For Sale
$4,611,000

13505 Millerville Grn BlvdBaton Rouge, LA 70816

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fee-simple ownership of a 14,933 square foot, newly constructed (2022) Range USA facility in Baton Rouge, LA. Located at 13505 Millerville Greens Blvd, this property boasts a prime location with high visibility along Interstate 12, experiencing over 88,000 vehicles daily. The property sits on a 2.06-acre lot and benefits from a strong tenant, Range USA, the nation's leading indoor gun range and retail shop, operating under a 20.1-year absolute NNN lease with four, five-year renewal options. The lease commenced July 11, 2022, and includes a 5% rent increase every five years, providing significant long-term growth potential. The current lease term has 17.7 years remaining, and the property enjoys 100% occupancy, generating a substantial net operating income (NOI) of $322,744, resulting in a 7.00% cap rate. The asking price is $4,611,000. This investment is backed by a corporate guarantee and is situated in a densely populated area with over 150,000 people within a five-mile radius, including proximity to major retailers like Target, Best Buy, Lowe's, PetSmart, and Chick-fil-A. This presents a rare opportunity to acquire a high-performing, low-maintenance, long-term net lease investment with a strong, nationally recognized tenant.

Highlights

  • 17+ years remaining on a new, absolute net lease with built-in rent increases every 5 years.
  • Absolute net lease; zero landlord responsibilities.
  • Four, five-year option periods extend the lease to a potential 40 years.
  • Range USA, the nation's leading indoor gun range and retailer, occupies the property.
  • Range USA is a major firearms educator and retailer with a significant online presence.
  • High visibility at the Millerville Road and I-12 interchange in Baton Rouge, LA (88,000+ cars/day).

Property Details for 13505 Millerville Grn Blvd

Property type
Specialty properties, Retail properties
Square Feet
14,933 SF
Year Built
2022
Lot Size (sq. ft)
89,734 SF

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.4384787
Longitude
-91.0278171
13505 Millerville Grn Blvd, Baton Rouge, Louisiana

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13505 Millerville Grn Blvd
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