Catylist ID:
#30834854
Back on Market | New Price 9.0% Cap | 100% Occupied
Shopping Center
for Sale
Also listed as Retail-Commercial
| Catylist Listing ID: | 30834854 |
| Property Subtypes: | Neighborhood Center, Strip Center |
| Building Size (RSF): | 14,000 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 1.34 Acres |
| Sale Price: | $1,833,333 |
| Unit Price: | $130.95 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Building Name: | Evangeline Shoppes |
| Sale Terms: | Cash to Seller, Owner Financing |
| Cap Rate: | 9.0% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 2/24/2023 |
Overview / Comments
|
INVESTMENT OVERVIEW Marcus & Millichap of Baton Rouge is pleased to offer the 14,000 SF Evangeline Shopping Center to your investors. The property is located at 1215 NW Evangeline Thruway in Lafayette, LA. The center is 100% occupied consisting of six tenants, all of which have excellent history at this location with some dating back to Year 2000. ALL tenants recently renewed and/or extended their respective leases. Five of the six tenants operate under NNN leases and are responsible for Taxes, Ins., CAM, and Mgmt./Admin fees. The property is professionally managed by local Mgmt Co. The property is situated on 1.34 acres and fronts NW Evangeline Thruway just 1.5 miles South of Interstate 10. Traffic Counts are +/- 55,000 on NW Evangeline and over 70,000 on I-10. Several prominent retailers surround the property including Home Depot, McDonald's, Planet Fitness, Hibbett Sports, Super 1 Foods, and Northgate Mall. Current ownership has taken excellent care of this property for many years. Their hands-on approach has removed future burdens from a potential buyer. Most recently, the roof was replaced in 2018, parking lot re-striped in July 2022, and several trees along the parking lot were trimmed in August 2022. INVESTMENT HIGHLIGHTS 100% Occupied | Long-Term Tenants | Recent Extensions Professionally Maintained | Excellent Condition | Roof Warranty thru 2033 Traffic Counts 50,000+ on NW Evangeline | Over 70,000 on I-10 ***Please See Offering Memo Below*** ***Contact Michael Derk w/ MMCC for Financing Options*** |
Attachments & Media
Additional Details
| Nearest MSA: | Lafayette |
| County: | Lafayette |
| Submarket/Township: | D |
| Tax ID/APN: | 6108469 |
| Traffic/Vehicle Count: | 55,000 |
| Highway Access: | I-10 just 1.5 miles to the North |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Property Condition: | Good |
| Year Built: | 1999 |
| Parking Type: | Surface |
| Land Ownership: | Fee Simple |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 14,029 | 69,383 | 128,867 |
| Median Age: | 32.79 | 32.98 | 34.54 |
| Households: | 4,993 | 27,928 | 52,486 |
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