For Sale
$2,300,000

3319 Texas St Bossier City, LA 71111

Gerber Collision & Glass, strong tenant, high ROI

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a 12,000 square foot, single-tenant net-leased auto shop in Bossier City, Louisiana. The property, built in 2006, is situated on a 1.39-acre lot and boasts a 100% occupancy rate with Gerber Collision & Glass, a subsidiary of the publicly traded Boyd Group Services, Inc. The current lease, commenced March 18, 2022, has a remaining term of 7.3 years with a 10-year initial term and includes 10% rental increases every five years. The property features a strong Net Operating Income (NOI) of $143,256, resulting in a compelling 6.23% cap rate and a price per square foot of $191.67. The asking price is $2,300,000. The property is zoned B-3 and benefits from a prime retail location. Gerber recently invested in new roofing systems with a 20-year warranty starting January 2024. This investment offers a secure, long-term lease with a financially stable and growing tenant in a desirable location, presenting significant potential for return. The low rent-to-sales ratio further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential.

Highlights

  • $2,300,000 asking price for a 12,000 square foot auto shop.
  • Net-leased property with a 6.23% cap rate.
  • Gerber Collision & Glass is the single tenant, with a 7.3-year remaining lease term (10-year initial term).
  • Located at 3319 E Texas St, Bossier City, LA 71111, on a 1.39-acre lot.
  • 100% occupancy since March 18, 2022, generating a $143,256 NOI.

Property Details for 3319 Texas St

Property type
Retail properties, Auto shops
Square Feet
12,000 SF
Year Built
2006
Buildings
1
Stories
1
Lot Size (sq. ft)
60,548 SF

Location Insight

City
Bossier City
County
Bossier Parish
State
Louisiana
Latitude
32.529685893967
Longitude
-93.695009911992

FAQs

What type of property is this?
Retail property - Gerber Collision & Glass, strong tenant, high ROI
Where is the retail property located?
The property is located at 3319 Texas St Bossier City, LA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: $2,300,000 asking price for a 12,000 square foot auto shop.; Net-leased property with a 6.23% cap rate.; Gerber Collision & Glass is the single tenant, with a 7.3-year remaining lease term (10-year initial term).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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3319 Texas St
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