Available For Sale - Retail

640 SF | Show Pricing $

AVAILABILITY DETAILS

Size
640 SF
Price/SF
Show Pricing $
Listing ID
SA416109
Notes
INVESTMENT HIGHLIGHTS

Brand New Construction; Store Opened August 2019!

Long-Term, 20-Year Absolute Triple Net (NNN) Lease With Over 19 Years Remaining

Twelve Percent (12.0%) Rental Increases in Year Six; Two and One-Half Percent (2.50%) Rental Increases Annually Thereafter

INVESTMENT OVERVIEW

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Farm Stores located at 700 Westgate Road in Lafayette, Louisiana. The newly constructed site consists of roughly 640 rentable square feet of building space on estimated 0.73-acre parcel of land. The subject property opened in August of 2019.

The Farm Stores property is subject to a brand new 20-year triple-net (NNN) lease, which has over 19 years remaining. The initial annual rent is $58,282 and will increase by twelve percent (12.0%) in year six (6), and then two and one-half percent (2.50%) annually thereafter, throughout the term of the lease and in each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 30 years
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Barry Wolfe, Wolfe-Lipsky Retail Group of Marcus & Millichap