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9445 Greenwell Springs Road - KFC, Baton Rouge, LA

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9445 Greenwell Springs Road - KFC

Baton Rouge, LA 70814-2921 - East Baton Rouge Parish Submarket


Property Type:Retail Sub Type:Fast Food Status:Existing Year Built:1994
Building Size:3,200 SF Land Area:.58 AC (25,265 SF)
For Sale Price:$1,100,000 Price/SF:$343.75
Cap Rate:6.46 %
Parking:Free Surface spaces are available; Ratio of 4.69/1,000 SF
Features:Dedicated Turn Lane, Pylon Sign, Signage, Drive Thru


The subject property is located near the intersection of Greenwell Springs Road (39,269 Cars / Day) and Oak Villa Boulevard (29,561 Cars / Day). Greenwell Springs Road serves as one of the main east-west thoroughfares originating from Central Baton Rouge. The road is a parallel surface street approximately 6-miles to the north of Interstate 12. In addition, Greenwell Springs intersects with the northeast to southeast Airline Highway (51,776 Cars / Day) approximately 1.9 miles to the west of the subject property. The subject property is located on a retail pad of The Village Green Shopping Center and is adjacent to Monterrey Village Shopping Center. The adjacent retail includes Piggly Wiggly, O’Reilly Auto Parts, Autozone, Taco Bell, Wendy’s, CVS Pharmacy and Walgreen’s. In addition several national quick service restaurant brands such as McDonald’s and Popeye’s Chicken are nearby. A 1.4 million square-foot super regional mall, Cortana Mall, is located approximately 1.8-miles south along Oak Villa Boulevard. Macy’s, Sears, JCPenney, and Dillard’s currently anchor the Mall. Cortana Mall is also home to Virginia College, a trade college that serves over 1,200 students. The immediate trade area is predominantly single-family residential driven by light industrial buildings and centers. The area is one of the most densely populated areas in Louisiana and is considered a vital employment center. One of the largest employers in the area URS Corporation specializes in providing engineering, construction, and technical services for public and private sector organizations around the world.
BATON ROUGE, LA: Baton Rouge was incorporated in 1817, and today Baton Rouge has a population of
229,553 (2010 US Census), which makes the capital city of Louisiana the second-largest city in the state. One of the largest single employers in Baton Rouge is the state government, which recently consolidated all branches of state government downtown at the “Capitol Park” complex. In addition to Louisiana State University Baton Rouge is home to Our Lady of the Lake College. In 2010 Baton Rouge’s overall economic performance ranked in the top 20 among the country’s 100 largest metro areas. “Top 10 Places for Young Adults” Portfolio Magazine, 2010 “Top 20 Cities in North America for Economic Strength” Brookings, 2010 Ranked No 9 “Best Place to Start a New Business” CNN, 2009
GREATER BATON ROUGE: The Greater Baton Rouge Metropolitan Area, known as Greater Baton Rouge, is one of the fastest growing metropolitan areas in the U.S. The population as of the 2010 census was 802,484, a 33.1% 10-year increase. The city is home to the Shaw Group, a Fortune 500 company. The Shaw Group is a conglomerate with core competencies in engineering, procurement, piping, energy, chemical, and nuclear power. Lamar Advertising Company is also headquartered in Baton Rouge. The main campus of Louisiana State University (28,985 Students) is located in Baton Rouge.
Baton Rouge’s largest industry is petrochemical production and manufacturing. The ExxonMobil facility in Baton Rouge is the 2nd largest oil refinery in the country and is among the world’s 10 largest. Baton Rouge also has rail, highway, pipeline, and deep water access. Albemarle is headquartered in Baton Rouge. Dow Chemical Company has a large plant in Iberville Parish near Plaquemine. NanYa Technology Corporation has a large facility in North Baton Rouge that makes PVC and C-PVC pipes. Shaw Construction, Turner, and Harmony all started with performing construction work at these plants.
The research hospitals Our Lady of the Lake, Our Lady of the Lake Children’s Hospital (affiliated with the St. Jude Children’s Research Hospital), Mary Bird Perkins Cancer Center, and Earl K. Long are located in Baton Rouge. These facilities along with an emerging medical corridor are positioning Baton Rouge to eventually support a medical district similar to the Texas Medical Center in Houston. LSU and Tulane have both announced plans to construct satellite
medical campuses in Baton Rouge to partner with Our Lady of the Lake Medical Center and Baton Rouge General Medical Center, respectively. Louisiana State University’s Pennington Biomedical Research Center, which conducts clinical and biological research, also contributes to research-related employment in the area around the Baton Rouge medical district.
The film industry is a strong growth industry in Baton Rouge, which is now home to the Celtic Media Center a new and expanding movie 23-acre studio. Numerous films and movies are filmed in the Baton Rouge area every year.
Due largely to generous transferable tax credits, there has been significant development in post-production facilities and movie studios in the region.

Sale Notes:
Marcus & Millichap is pleased to present this 3,200-square foot Kentucky
Fried Chicken (KFC) located in Baton Rouge, the capital of Louisiana.
There are more than nine years remaining on this triple-net (NNN) lease
with zero landlord responsibilities. The lease features 1.5 percent annual rent
increases over the base term. The lease is guaranteed by Taci Investments,
Incorporated; as well as a strong personal guaranty from the operator. Taci
Investments is an asset development firm specializing in the management
of branded franchised restaurants. They operate more than 7 restaurants in
Louisiana.
The subject property features a drive-thru, and is across the street from
the Greenwell Springs Road and Monterey Boulevard intersection, a major
thoroughfare with more than 55,000 vehicles per day (VPD). Greenwell
Springs is a major connector with direct access to downtown Baton Rouge.
KFC is also nearby to Ronald Reagan Memorial Highway, a major United
States Highway between Louisiana and Texas, which sees more than 46,899
vehicles per day (VPD). This asset benefits from the strong retail corridor it
is located along. Within one mile, there is more than 330,000 square feet of
retail space.
KFC also benefits from strong demographics. There are more than 169,000
residents with an average household income greater than $61,000 within
five miles. Additional retailers in the immediate vicinity include: McDonald’s,
Popeyes, O’Reilly Auto Parts, Dollar General, Family Dollar, AutoZone, CVS,
Domino’s, Taco Bell, Fred’s Store, Rite Aid, RaceTrac, and many more.

Marcus & Millichap Inc
Daniel Corcoran
(212) 430-6145

Michael Grunberg
(212) 805-1438

Preet Sabharwal
(212) 430-5195




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