6130 La-129Monterey, LA 71354

  • Retail properties
  • 9,026 SF
For Sale
$1,109,000 View listing

Property Details for 6130 La-129

Year built
2017
Lot size
1.41 AC
Property size (Sq ft)
9,026 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a 9,026 square foot, single-tenant retail property in Monterey, Louisiana. The property, built in 2017, is currently 100% occupied by Dollar General under an absolute NNN lease with 7.5 years remaining on the primary term, extending to May 30, 2032. The lease includes three, 5-year options with a 10% rent increase in each. The property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $77,622. Located at 6130 LA-129, the property sits on a 1.41-acre lot and offers 30 parking spaces. The asking price is $1,109,000, translating to $122.87 per square foot. This is a highly desirable investment due to the tenant's investment-grade credit rating, the long-term lease, and the property's strategic location as the only dollar store within a 21-mile radius. Dollar General's impressive growth trajectory, including plans for continued expansion, further solidifies this investment's potential. The property's Class B construction and excellent visibility from Townline Road add to its appeal. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth prospects.

6130 La-129, Monterey, Louisiana

Location Insight

City
Monterey
County
Concordia Parish
State
Louisiana
Latitude
31.4527
Longitude
-91.718

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