For Sale
$2,300,000

3319 Texas StBossier City, LA 71111

Gerber Collision & Glass, strong tenant, high ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
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
3319 Texas St, Bossier City, Louisiana

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3319 Texas St
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