For Sale
$4,218,750

2345 O'neal Ln Baton Rouge, LA 70816

High-yield, NNN-leased car wash.

Overview

Added:
Dec 11, 2024
Days on market:
134
Exceptional Baton Rouge car wash investment opportunity boasting a 20-year absolute NNN lease with a corporate guarantee from a well-established, rapidly expanding national chain. The property, built in 2015 and renovated in 2022, features 4,000 square feet on a 1.18-acre lot in a high-traffic area with excellent visibility. The lease, commencing August 1, 2022, includes annual rent bumps of 1.25% and four 5-year renewal options, ensuring long-term income stability. The property enjoys a 6% cap rate and a substantial net operating income (NOI) of $253,125. Located on O'Neal Ln, with over 30,000 vehicles passing daily, and near Interstate 12 (over 115,000 vehicles daily), this location benefits from exceptional visibility and proximity to numerous national retailers, including Walmart, Target, and Best Buy. The tenant is responsible for all taxes, insurance, and maintenance, making this a truly passive investment opportunity. The asking price is $4,218,750, representing a price per square foot of $1,054.69. The property's strong tenant, backed by significant private equity investment, provides exceptional security and growth potential. This fee-simple ownership allows for bonus depreciation benefits. The current occupancy is 100%.

Highlights

  • 18+ years remaining on a corporate guaranteed Absolute NNN lease.
  • Fee simple ownership allows for bonus depreciation.
  • High visibility location on O'Neal Ln (30,000+ VPD) and near I-12 (116,500+ VPD).
  • Excellent location in Baton Rouge MSA, near numerous national retailers including Walmart, Target, and Best Buy.
  • 1.25% annual rent increases.
  • Strong corporate guarantor with 100+ locations, backed by Freeman Spogli & Co.

Property Details for 2345 O'neal Ln

Property type
Specialty properties, Car washes
Square Feet
4,000 SF
Year Built/Renovated
2015/2022
Lot Size (sq. ft)
51,401 SF
Units
1

Location Insight

City
Baton Rouge
County
East Baton Rouge Parish
State
Louisiana
Latitude
30.435722551625
Longitude
-91.006549877035

FAQs

What type of property is this?
Specialty property - High-yield, NNN-leased car wash.
Where is the specialty property located?
The property is located at 2345 O'neal Ln Baton Rouge, LA.
What is the asking price?
The asking price for this property is $4,218,750.
What are key features of this property?
This property features: 18+ years remaining on a corporate guaranteed Absolute NNN lease.; Fee simple ownership allows for bonus depreciation.; High visibility location on O'Neal Ln (30,000+ VPD) and near I-12 (116,500+ VPD).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2345 O'neal Ln
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