For Sale
$3,928,000

3384 Government StBaton Rouge, LA 70806

Baton Rouge Retail Property - 8.25% CAP

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 10,908-square-foot CVS Pharmacy located at 3384 Government St, Baton Rouge, LA 70806. The property, built in 1998, sits on a 1.75-acre lot and features a single-story building with a net lease structure (NNN), offering zero landlord responsibilities. The current lease, with a corporate guarantee from CVS, expires December 2, 2023, but includes 3-5 year options with a 1.68% rent increase in each option period. The property boasts a strong 8.25% cap rate and a net operating income (NOI) of $323,869, with an asking price of $3,928,000. This location benefits from extended hours (until midnight), a unique advantage among Baton Rouge CVS stores. The property's strategic location is enhanced by recent city improvements to Government Street, creating a vibrant commercial environment. Nearby key employers include BlueCross BlueShield (2,400 employees), ExxonMobil (4,200 employees), and a significant Amazon fulfillment center under construction. The proximity to Louisiana State University (35,914 students) and Baton Rouge Metropolitan Airport (800,000+ annual travelers) further strengthens the property's investment potential. Liquor sales contribute to the property's recession-resistant qualities. This is a rare opportunity to acquire a high-performing, well-located CVS Pharmacy with significant upside potential.

Highlights

  • Extended hours operation until midnight (one of only four in Baton Rouge).
  • CVS corporate lease guarantee.
  • Pre-determined rent increase options.
  • Triple Net (NNN) lease; zero landlord responsibilities.
  • Recession-resistant liquor sales.
  • Government Street revitalization project ($11M+) boosting foot traffic and new businesses.

Property Details for 3384 Government St

Property type
Retail properties, Drug stores
Square Feet
10,908 SF
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
76,230 SF

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.4435132
Longitude
-91.154655
3384 Government St, Baton Rouge, Louisiana

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3384 Government St
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