205 Edgewood DrPineville, LA 71360

Property Details for 205 Edgewood Dr

Year built

1982

Lot size

0.26 AC

Property size (Sq ft)

1,600 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a fee-simple ownership of a 1,600 square foot Jiffy Lube located at 205 Edgewood Dr, Pineville, LA 71360. The property boasts a strong absolute NNN lease with a prominent franchisee, Second Largest Jiffy Lube Franchisee Team Car Care LLC, operating over 490 locations nationwide. The current lease, initiated February 27, 1997, has a remaining term of approximately 2.3 years, followed by a single 5-year renewal option with a 12.5% rent increase. The property, built in 1982, sits on a 0.26-acre lot and enjoys 100% occupancy, generating a substantial net operating income (NOI) of $48,054, representing a 6.00% cap rate. The asking price is $800,902, translating to $500.56 per square foot. This location benefits from its position within a major retail corridor, surrounded by established businesses such as CVS Pharmacy, Walgreens, Dollar General, McDonald's, Burger King, Chase Bank, Circle K, O'Reilly's, and Advance Auto Parts. Proximity to significant residential areas, including Misty Hollow (176 units) and Parkchester (80 units) apartment complexes, further enhances the property's value and potential for long-term growth. This is a rare opportunity to acquire a well-established, passively managed investment with significant upside potential.

Location Insight

City

Pineville

County

Rapides Parish

State

Louisiana

Latitude

31.3352

Longitude

-92.3991

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