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24630 Highway 1, Plaquemine, LA

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24630 Highway 1

Plaquemine, LA 70764-4122 - Iberville Parish Submarket

Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:1988
Building Size:2,757 SF Land Area:1.21 AC (52,708 SF)
For Sale Price:$1,995,000 Price/SF:$723.61
Cap Rate:5.38 %
Parking:Free Surface spaces are available; Ratio of 4.35/1,000 SF
Features:Corner Lot, Dedicated Turn Lane, Pylon Sign, Restaurant, Signage, Drive Thru

Sale Notes:
This property is priced to sell at an above market cap rate of 5.38% and there are 19 years left on the primary lease term.
Large 1.21 Acre Lot with 50 parking spaces.
GPS Hospitality group recently purchased 192 new Burger King locations including this one making them one of the top Burger King franchises. GPS currently operates 424 Burger King restaurants across 14 States.
There are 2% annual rent bumps throughout the primary term and option period offer a superior return to the typical 5-10% rent bumps every 5 years on other NNN properties.

The Solid Investments Group
Heather D Gogola
(954) 822-9282

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