For Sale
$3,428,000

1111 Boone StLeesville, LA 71446

Multi-tenant retail center, strong national tenants.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple, 52,179 square foot, single-story shopping center in Leesville, Louisiana. Built in 2016, the property boasts 100% occupancy with four tenants: Tractor Supply Co., NAPA Auto Parts, Goodwill, and an ATM. The property features a strong credit anchor in Tractor Supply, who recently renewed their lease for five years. NAPA and Goodwill have also extended their leases, demonstrating commitment to this location. All leases are NNN, minimizing landlord responsibilities. The current Net Operating Income (NOI) is $269,092, resulting in a 7.85% cap rate. The asking price is $3,428,000, translating to $65.70 per square foot. The property sits on a five-acre lot at 1111 Boone St, conveniently located off Highway 171, adjacent to Walmart and Lowe's, in the heart of Leesville's retail corridor. Leesville benefits from the economic activity generated by Fort Johnson and the Joint Readiness Training Center (JRTC), as well as the recreational opportunities offered by the nearby Toledo Bend Reservoir. The current lease term averages 3.6 years, with below-market rents, presenting a compelling opportunity for long-term growth and passive income. This property offers a stable, cash-flowing investment with significant upside potential.

Highlights

  • Strong Tractor Supply Co. anchor tenant with a recently renewed 5-year lease.
  • National brand co-tenancy with NAPA Auto Parts and Goodwill, both with extended leases.
  • Below-market rents averaging $4.64/SF, significantly below market average of $14.31/SF (Costar).
  • NNN leases minimize landlord responsibilities; landlord responsible for roof and structure.
  • Shadow-anchored by Walmart and Lowe's, offering high visibility on Highway 171 in Leesville's retail corridor.
  • Located in Leesville, benefiting from the economic activity of Fort Johnson, JRTC, and Toledo Bend Reservoir.

Property Details for 1111 Boone St

Property type
Lifestyle centers, Power centers
Square Feet
52,179 SF
Year Built
2016
Buildings
1
Stories
1
Lot Size (sq. ft)
217,800 SF

Location Insight

City
Leesville
County
Vernon Parish
State
Louisiana
Latitude
31.121860343702
Longitude
-93.271762181215
1111 Boone St, Leesville, Louisiana

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1111 Boone St
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