For Sale
$1,499,000

64107 La-41Pearl River, LA 70452

High-traffic location, strong tenant, long lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This 1,703 square foot Sonic Drive-In, built in 2019, is located on 0.89 acres at 64107 LA-41 in Pearl River, Louisiana, within the New Orleans MSA. The property boasts a 15.1-year remaining lease term (expiring 12/29/2039) with an absolute NNN structure, meaning the tenant is responsible for all property taxes, insurance, and maintenance. This significantly reduces landlord responsibilities and provides a stable income stream. The property's NOI is $97,433, resulting in a 6.50% cap rate. The asking price is $1,499,000. The site benefits from high visibility and accessibility due to its location along Louisiana Highway 41, which merges with US Highway 11, with Interstate 59 less than a mile away. This high-traffic area ensures significant exposure for the business. The single-tenant building is 100% occupied by the established Sonic Drive-In brand, offering a strong tenant profile and long-term income stability. The lease includes four consecutive five-year renewal options, further securing the investment. This fee-simple ownership opportunity presents a compelling investment in a prime location with a proven, stable tenant.

Highlights

  • Prime New Orleans MSA location with high visibility and major highway access.
  • Triple-net lease (NNN) provides a stable, predictable income stream with no landlord responsibilities.
  • Strong, established fast-food tenant with a proven track record and long-term commitment.
  • Competitive rental rates with escalations and a long-term lease with renewal options.
  • Triple-net lease minimizes risk and capital expenditures; property is well-maintained.

Property Details for 64107 La-41

Property type
Retail properties
Square Feet
1,703 SF
Year Built
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
38,768 SF
Units
1

Location Insight

City
Pearl River
County
St. Tammany Parish
State
Louisiana
Latitude
30.36052392
Longitude
-89.75163536
64107 La-41, Pearl River, Louisiana

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64107 La-41
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