3415 Burg Jones Ln - Freestanding FOR SALE


Monroe, LA 71202
$175,000 USD
305-206-1286
3415 Burg Jones Ln, Monroe, LA for Sale
$175,000 USD
Freestanding - FOR SALE
1/9
null | Request Cap Rate

3415 Burg Jones Ln
Monroe, LA 71202


HIGHLIGHTS

  • ABSOLUTE $1 AUCTION | Former Dollar General | Built 2011 | 7K VPD | AUCTION AUGUST 3-5
  • ±9,101 SF Freestanding Value-Add Retail on 0.98 Acres Available at Substantial Discount Below Replacement Cost
  • Former Dollar General with Open Floor, Rear Storage Room, and Side Door for Deliveries
  • Signalized Hard Corner of Reddix Lane and Standifer St with Traffic Counts of 7,224 VPD Combined | 0.5-Mi from US-165 (25K VPD) and 3-Mi from I-20
  • Nearby National Retailers: Family Dollar, McDonald’s, Burger King, KFC, Popeyes, Sonic, Super 8, Quality Inn
  • Attractive Demographics with ±58,364 People and Annual Household Income of ±$49,086 within 5-Mile Radius

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a vacant, free-standing retail building located at 3415 Reddix Lane in Richwood, Louisiana (the “Property”). Formerly occupied by Dollar General, the Property is offered significantly below replacement cost, presenting an exceptional opportunity for owner/users or investors to acquire a well-located commercial asset at a substantial discount. FIRST BID MEETS RESERVE! Constructed in 2011, the Property consists of a one-story, free-standing retail building totaling ±9,101 gross square feet situated on a ±0.98-acre parcel (±42,496 SF) with 30 surface parking spaces. Positioned on a signalized hard corner, the site benefits from dual curb cuts and ±295 feet of frontage along Reddix Lane, with ±3,663 vehicles per day (VPD), as well as ±152 feet of frontage along Standifer Street ±3,561 VPD. Previously operated under a triple net (NNN) lease by Dollar General, the Property presents a compelling value-add opportunity for repositioning and lease-up at long-term market rates (CoStar estimated asking retail rents of $14-18 /SF/year). Zoned Commercial District, the Property accommodates a broad range of retail, office, service, restaurant, and commercial uses, providing exceptional operational flexibility and long-term investment potential. The Property is strategically located in Richwood, Louisiana, within the Monroe Metropolitan Statistical Area (MSA) just 3-mi south of I-20, one of the region’s primary east-west transportation corridors connecting northern Louisiana with Dallas, Jackson, and the broader Southeast. the Property benefits from excellent visibility and accessibility within an established commercial corridor serving both local residents and the surrounding trade area and also just a half-mile from US Route 165 with over 25k cars passing through the area daily. Adjacent to Monroe’s primary retail and employment districts, Richwood provides convenient access to major healthcare providers, the University of Louisiana Monroe, Monroe Regional Airport, and numerous regional employers. The surrounding area is anchored by national retailers, restaurants, schools, and neighborhood services, reinforcing consistent consumer traffic and long-term commercial demand. The surrounding 5-mile trade area is home to more than 58,000 residents with an average household income approaching $50,000, providing a stable consumer base that supports a broad range of retail, commercial, restaurant, medical, and service-oriented uses, positioning the Property for owner occupancy, re-leasing, or long-term value-add repositioning.

FOR SALE DETAILS

PRICE

$175,000 USD

PRICE/SF

$19 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$1 Auction -REIT Sale | Former Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,684 SF

ZONING

-

APN/PARCEL ID

75891,75918

ASK ABOUT THIS PROPERTY

Philip KatesMarcus & MillichapMore Info
305-206-1286

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Philip KatesMarcus & MillichapMore Info
305-206-1286

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