Firestone – Denham Springs, LA

$3,891,200
Price
$175,104
Noi
4.50%
Cap Rate
6,262
Leasable Area
2022
Year Built

Fortis Net Lease is pleased to present this brand new 6,262 SF. Firestone Complete Auto Care store located in Denham Springs, Louisiana. This property will offer a brand new Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years during the primary term and including each five (5) year option to renew. The store successfully opened with rent commencing on March 28, 2022.

This Firestone store is highly visible as it is strategically positioned near a hard signalized corner on Juban Road which sees 24,436 cars per day, just off of I-12 which sees 78,887 cars per day. This site is across from Juban Crossing, a 471-acre, mixed-use community center which draws around 2.9 Million visitors annually – making it a top3% performer out of all shopping centers in the state of Louisiana! The major tenants are Rouses Market, Movie Tavern, Belk, Ross Dress for Less, TJ Maxx, Old Navy, Ulta Beauty, and many more. The five mile population from the site is 66,116 while the one mile average household income is $83,801 per year, which is ideal for a Firestone. This area is experiencing great growth with the one mile population growth rate at 4.20%.The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Firestone. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a cap rate of 4.50% based on NOI of $175,104.

INVESTMENT HIGHLIGHTS
• Absolute NNN 15 Year Lease | Zero Landlord Responsibilities
• 5% Rental Rate Increase Every 5 Years | Now Open!
• Brand New BTS 2022 Construction | Essential Business
• Hard Signalized Location | Just off the I-26 Exit
• Located in a Retail Hub | Across from Juban Crossing (2.9M Visits/year)
• Juban Crossing Performs in the Top 3% of all Shopping Centers in Louisiana (974/32,983)!
• 5 (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $83,801
• Five Mile Population 66,116
• One Mile Population Growth Rate 4.20%
• 78,887 Cars Per Day on I-12 | 24,436 Cars Per Day on Juban Road

 

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

DOWNLOAD LINKS

OFFERING MEMORANDUM