For Sale
$2,634,730

11297 Florida BlvdBaton Rouge, LA 70815

Baton Rouge, LA - High-Yield Retail

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 13,620 square foot Walgreens located at 11297 Florida Blvd, Baton Rouge, LA 70815. The property boasts a highly desirable absolute NNN lease structure, minimizing landlord responsibilities. Built in 1993, this single-story building sits on a 1.67-acre lot and enjoys a prime hard corner location within a dense retail market. The current lease, with Walgreens, a credit-rated tenant, has a remaining term of 5.2 years, expiring January 30, 2030, and includes four or five-year renewal options. The property generates a strong net operating income (NOI) of $219,999, resulting in an attractive 8.35% cap rate. The asking price is $2,634,730, translating to $193.45 per square foot. This strategically located asset benefits from its proximity to Louisiana State University and its position in Baton Rouge, Louisiana's capital city. The property's long-standing tenancy with a nationally recognized brand like Walgreens, coupled with its strong financial performance and minimal landlord responsibilities, makes it an ideal addition to any investment portfolio. The property's Class A designation further underscores its quality and desirability. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving market.

Highlights

  • Absolute NNN lease; no landlord responsibilities.
  • 1993 construction; long-term tenant with strong site commitment.
  • Hard corner location in a dense retail market.
  • Baton Rouge, LA location; Louisiana's capital and home to LSU.
  • Walgreens; second-largest US pharmacy chain with ~8,700 locations.
  • Hard corner location at a busy, signalized intersection.

Property Details for 11297 Florida Blvd

Property type
Lifestyle centers, Power centers
Square Feet
13,620 SF
Class
A
Year Built
1993
Buildings
1
Stories
1
Lot Size (sq. ft)
72,745 SF
Units
1

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.459196433602
Longitude
-91.058210844692
11297 Florida Blvd, Baton Rouge, Louisiana

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11297 Florida Blvd
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