2575 70Th StShreveport, LA 71105

Property Details for 2575 70Th St

Year built

2000

Lot size

1.29 AC

Property size (Sq ft)

12,720 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a 12,720 square foot, single-tenant net-leased retail property occupied by Gerber Collision & Glass. Located at 2575 E 70th St, Shreveport, LA 71105, on a 1.29-acre lot, this property boasts a strong 6.48% cap rate and a substantial net operating income (NOI) of $149,055. The building, constructed in 2000, is a single-story structure with C-3 zoning. Gerber Collision & Glass, a subsidiary of Boyd Group Services Inc., a publicly traded Canadian corporation, holds a 10-year lease commencing March 18, 2022, with a remaining term of approximately 7.3 years. The lease includes a 10% rental increase every five years, extending through option periods. The property's price per square foot is $180.82, and the asking price is $2,300,000. The tenant recently completed roof replacements with a 20-year warranty starting January 2024. This investment offers a secure, high-performing asset with significant long-term growth potential in a prime retail location. The property's occupancy is 100%, with an occupancy date of March 18, 2022. This is a rare opportunity to acquire a well-established, high-performing asset in a stable market.

Location Insight

City

Shreveport

County

Caddo Parish

State

Louisiana

Latitude

32.452

Longitude

-93.6941

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