301 Constitution Dr - Restaurant FOR SALE
West Monroe, LA 71292 |
$2,325,000 USD
713-540-9116
301 Constitution Dr
West Monroe, LA 71292
HIGHLIGHTS
- No Landlord Responsibilities -- Absolute Net Lease with 7.5 Years Remaining
- Strong Demographics and Trade Area (Mixed Retail/Hospitality) (Adjacent to Buffalo Wild Wings, Outback Steakhouse, Cracker Barrell & Harbor Freight)
- Excellent Credit Tenant - Brinker (NYSE: EAT)
- (4) additional 5 year lease renewal options at 1.5% annual rent increases
- Proven Location....Tenant recently (2 years ago) opted to exercise a 10 year renewal rather than than the regular 5 year option
- Asking $2,325,000 (6.06% CAP RATE) at closing NOI = $139,750
OVERVIEW
Great Opportunity to acquire a superior Absolute Net investment with a strong credit Tenant! This Chili's restaurant recently renewed their lease for 10 years. (7.5 Years Remaining) There are (4) additional 5-Year renewal options with 1.5% annual increases in Base Rent. Strong corporate credit..... Brinker (NYSE: EAT)
FOR SALE DETAILS
PRICE
$2,325,000 USD
PRICE/SF
$405 USD /SF
CAP RATE
6.01%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
ADD'L SUBTYPES
Bar, Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1997
SPRINKLERS
-
PARKING SPACES
110
LAND DETAILS
LAND ACRES
1.68 AC
LAND SF
73,236 SF
ZONING
Commercial
APN/PARCEL ID
103662
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
713-540-9116
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
713-540-9116
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
