For Sale
$449,333

210 Main StNew Iberia, LA 70563

Triple-Net Lease, Strong Tenant, High Cap Rate

Overview

Added:
Feb 11
Days on market:
51
This exceptional investment opportunity presents a 7,920 square foot retail property located at 210 N Main St, New Iberia, LA 70563. The property, built in 2001 and situated on a 0.45-acre lot, is currently 100% occupied by a triple-net (NNN) leased Dollar General, Dollar Tree, and Family Dollar store. The lease commenced March 8, 2001, and expires May 31, 2028, with two 5-year options remaining, each including a 10% rent increase. The current asking price is $449,333, offering a compelling 9.00% cap rate and a strong NOI of $40,440. The tenant boasts an investment-grade credit rating (BBB, S&P) and benefits from a corporate guarantee, ensuring consistent income. The property enjoys a prime location on Main Street, a major thoroughfare, and benefits from its proximity to complementary businesses such as an auto parts shop, bank, and high school. The average household income within a 10-mile radius is $76,540, aligning perfectly with Dollar General's target demographic. Landlord receives $1,300/month for CAM expenses. This is a rare opportunity to acquire a well-established, low-risk retail investment with significant upside potential. The property's long-term lease, strong tenant, and favorable location make it an ideal addition to any portfolio.

Highlights

  • $449,333 asking price for a Net Leased retail property.
  • 7,920 SF convenience store, grocery store, and pharmacy (Dollar General, Dollar Tree, Family Dollar) in New Iberia, LA.
  • 9.00% cap rate with a $40,440 NOI.
  • NN lease with a credit-rated, corporate guarantee; 3.3 years remaining with two 5-year options at 10% rent increases.
  • 100% occupancy; built in 2001 on a 0.45-acre lot.
  • Landlord receives $1,300/month for CAM expenses.

Property Details for 210 Main St

Property type
Retail properties, Drug stores
Square Feet
7,920 SF
Year Built
2001
Buildings
1
Lot Size (sq. ft)
19,602 SF

Location Insight

City
New Iberia
County
Iberia Parish
State
Louisiana
Latitude
30.0579221
Longitude
-91.7374291
210 Main St, New Iberia, Louisiana

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210 Main St
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