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2023 N Foster Dr
Baton Rouge, LA 70806 Mid City Baton Rouge

$2,621,000 USD

Department Store For Sale  •  4,545 SF

Property Details

  • Property Type Department Store
  • Total Building Size 4,545 SF
  • Lot Size 0.15 AC
  • Building Class C
  • Year Built 2022
  • Cap Rate 8.50 %
  • Tenancy Single
0 Transit Score
62 Walk Score

Highlights

Lease Structure: 12 Years Term Remaining on an Absolute Triple Net Lease With Zero Landlord Responsibility
Strong Personal Guarantee From the CEO of IMTAA: a Successful Grocery Store and Convenience Store Operator
High Yield Opportunity: Opportunity to Take Advantage of a High Yield Opportunity in a Higher Interest Rate Environment
Rental Increases: Strong Hedge Against Inflation With 2% Annual Rent Increases
Strong Demographics: Each Grocery Store is Strategically Located in Dense Residential Areas of Baton Rouge
Baton Rouge, The Capital of Louisiana, is Home to Louisiana State University Which Enrolls Over 37,000 Students Each Year
Cap Rate: 8.50 %

Major Tenants

Tenant SF Occupied Lease End Date
IMTAA 4,545 SF 4/18/2036

Amenities

  • Air Conditioning

Public Transportation

AirportDriveWalkDistance
Baton Rouge Metro Ryan Field 10 min - 5.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 20
Type: Surface
Included in Rent: Yes
Matt Sawyer 678-713-4959 Sands Investment Group Atlanta, LLC
Matt Sawyer 678-713-4959 Sands Investment Group Atlanta, LLC