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2820 S MacArthur Drive - Logan's Roadhouse, Alexandria, LA

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2820 S MacArthur Drive - Logan's Roadhouse

Alexandria, LA 71301-2923


Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:1998
Building Size:7,870 SF Land Area:.7 AC (30,492 SF)
For Sale Price:$4,752,796 Price/SF:$603.91
Cap Rate:7.60 %



Sale Notes:
Marcus & Millichap is pleased to exclusively market for sale the subject single-tenant net-leased Logan’s Roadhouse located at 2820 South MacArthur Drive in Alexandria, Louisiana. The property made up of a 7,870 square feet building and is situated on approximately 0.73 acres of land. This investment opportunity is subject to an absolute triple-net (NNN) lease which has nearly 9 years remaining. This is a corporate location and is guaranteed by Logan’s Roadhouse Inc. The lease commenced on November 30, 2006 and has a current rent of $361,212. The lease is subject to increases of 1.25x CPI annually, which is capped at 1.75%, in the base term and continuing throughout the first two option periods. In the third, fourth, and fifth option periods, rent for the first year shall be determined by the greater of (i) the amount of Base rent payable for the immediately preceding Lease Year and (ii) Fair Market Value. Rent for years 2-5 of each of the last three option periods shall be subject to increases of 1.25x CPI annually, which is capped at 1.75%.

The subject property benefits from its strategic location in a dense retailer corridor. This corridor contains both local and national retailers, which include: Walmart, Sam’s Club, Target, Office Depot, Home Depot, Lowes, Kroger, Hobby Lobby, Texas Roadhouse, Applebee’s, Chick-fil-A, Starbucks, Wendy’s, and many more. Alexandria Mall which contains over 25 national retailors, is located less than a mile away and contains: Kirkland’s, JC Penney, Bed Bath & Beyond, Champ Sports, GNC, Dillard’s, Foot Locker, Sears, among many others. There are approximately 45,002 individuals residing within a three-mile radius of the property and more than 59,100 individuals within a five-mile radius. The subject property is located on North Bluff Street, which is just off of Highway 71 and near Interstate-49. The average daily traffic counts for Highway 71 and Interstate-49 are roughly 37,353 and 34,054 respectively.

Logan’s Roadhouse is a leading casual dining steakhouse headquartered in Nashville, Tennessee. The sights, the sounds and the spirit of Music City roots can be felt through all 194 company-operated and 26 franchised restaurants in 23 states. Their passion for down-home flavor and straight-up satisfaction is as real as it gets.

Marcus & Millichap
Chris Shaheen
(225) 376-6800

  
Marcus & Millichap Inc
Glen Kunofsky
(212) 430-5100

Alex Marietto
(212) 430-5182

James Westerberg
(646) 805-1449




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