1950 Louisville AveMonroe, LA 71201

Property Details for 1950 Louisville Ave

Property size (Sq ft)

2,221 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This investment opportunity presents a 2,221 square foot Popeyes restaurant located at 1950 Louisville Ave, Monroe, LA 71201. The property is situated on a high-visibility site along Louisville Avenue, a primary retail thoroughfare with an average annual daily traffic count of 22,473. The absolute NNN ground lease boasts a new 10-year term commencing January 1, 2024, and expiring December 31, 2033, with built-in rent bumps every five years and three additional five-year renewal options. The lease is guaranteed by Carrols Corporation, a significant operator of over 1,000 Burger King and Popeyes restaurants. This presents a low-management, passive investment opportunity with no landlord responsibilities for maintenance. The property benefits from a strong tenant mix in the immediate vicinity, including major national retailers such as Walmart Supercenter and Brookshire's. The location enjoys excellent demographics, with 91,579 residents within a five-mile radius and proximity to several schools and the University of Louisiana Monroe. The asking price is $1,240,000, offering a 5.85% cap rate and a net operating income (NOI) of $77,500. This Popeyes location is ideally positioned to capture significant crossover shopping opportunities, given its proximity to a Walmart Supercenter anchored shopping center. The property is offered as a 1031 exchange opportunity.

Location Insight

City

Monroe

County

Ouachita Parish

State

Louisiana

Latitude

32.5188

Longitude

-92.1047

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