215 W Willow St - Storefront FOR SALE


Lafayette, LA 70501- Central Lafayette Parish
$4,200,000 USD
713-775-8899
215 W Willow St, Lafayette, LA for Sale
$4,200,000 USD
Storefront - FOR SALE
1/8
null | 6.83% Cap Rate

215 W Willow St
Lafayette, LA 70501
Central Lafayette Parish


HIGHLIGHTS

  • Super 1 Foods is a Top Performing Location Nationwide | Rent-to-Sales Ratio of 0.64 Percent
  • Super 1 Foods is Committed to This Proven Location
  • Significant Value Add Potential: Leasing the vacant space results in pro forma cap rate of 10.61 percent.
  • Priced Significantly Below Replacement Cost: $42/SF
  • Property is 84 Percent Occupied by Credit Tenants: Super 1 Foods and dd’s Discounts
  • Located at the Southwest Corner of West Willow Street and Evangeline Thruway: Approximately 75,000 VPD

OVERVIEW

Marcus & Millichap is pleased to exclusively list for sale West Willow Grocery-Anchored Shopping Center, a grocery-anchored retail center with 100,264 square feet of leasable area, located at 215 West Willow Street in Lafayette, Louisiana. West Willow Shopping Center is located at the southwest corner of West Willow Street and Evangeline Thruway, seeing approximately 75,000 vehicles per day. This intersection is an important retail hub in its submarket, evidenced by the property’s anchor tenant, Super 1 Foods, which ranks in the top 89 percent of foot traffic for locations nationwide, according to Placer AI. The subject property’s co-anchor, dd’s Discounts, ranks in the top 75 percent of locations in Louisiana for foot traffic, according to Placer AI. West Willow Shopping Center is offered at a price of $4,200,000 ($41.89 per square foot), which represents an 6.83 percent day one cap rate at 88 percent occupancy. An investor could add value by leasing the vacant space, which would result in a pro forma cap rate of 10.61 percent.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$42 USD /SF

CAP RATE

6.83%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Willow Grocery-Anchored Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

430

LAND DETAILS

LAND ACRES

9.5 AC

LAND SF

413,820 SF

ZONING

C

APN/PARCEL ID

6020237

ASK ABOUT THIS PROPERTY

Alex Wolansky, CCIMMarcus & MillichapMore Info
713-775-8899

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Alex Wolansky, CCIMMarcus & MillichapMore Info
713-775-8899

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.