For Sale
$3,690,000

900 Admiral Doyle DrNew Iberia, LA 70560

7,572 SF, 3-Tenant NNN Retail Pad

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7,572-square-foot, three-tenant retail pad building in New Iberia, Louisiana. The property, built in 2023, boasts a strong tenant lineup including Verizon Wireless, Mattress Firm, and Zeus Mediterranean Kitchen, all operating under long-term NNN leases with built-in rent increases. The property features a 7.00% cap rate and a Net Operating Income (NOI) of $258,275, with an asking price of $3,690,000 ($487.32/SF). Situated on a 1.15-acre lot (APN: 05 03908972A) in a high-traffic location at 900 E Admiral Doyle Dr (zip code 70560), this Class A property benefits from its proximity to major retailers such as Hobby Lobby, Rouses Market, and Ross Dress for Less. The property's strategic location within a thriving retail corridor ensures high visibility and consistent foot traffic. The NNN lease structure minimizes landlord responsibilities, while the strong creditworthiness of the tenants provides financial stability. This is a turnkey investment opportunity with significant potential for long-term growth and return. The permitted zoning is Commercial. High daily traffic counts on South Lewis Street (23,000 vehicles) and Admiral Doyle Drive (21,000 vehicles) further enhance the property's desirability. Over 74,000 people reside within a ten-mile radius, providing a substantial customer base.

Highlights

  • $3,690,000 asking price for a 7,572 SF retail pad in New Iberia, LA.
  • Triple-net (NNN) leased to Verizon Wireless, Mattress Firm, and Zeus Mediterranean.
  • Brand new (2023) construction with long-term leases and built-in rent increases.
  • 7.00% cap rate and $258,275 NOI.
  • Located in a high-traffic shopping center anchored by Rouses, Hobby Lobby, and Ross.

Property Details for 900 Admiral Doyle Dr

Property type
Retail properties, Retail space
Square Feet
7,572 SF
Class
A
Year Built
2023
Lot Size (sq. ft)
50,094 SF

Location Insight

City
New Iberia
County
Iberia Parish
State
Louisiana
Latitude
29.984947917845
Longitude
-91.821764739073
900 Admiral Doyle Dr, New Iberia, Louisiana

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900 Admiral Doyle Dr
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