6130 La-129Monterey, LA 71354

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

Retail space

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.

Location Insight

City

Monterey

County

Concordia Parish

State

Louisiana

Latitude

31.4527

Longitude

-91.718

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