7305 La-182Morgan City, LA 70380

Property Details for 7305 La-182

Property size (Sq ft)

3,037 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased Wendy's restaurant located at 7305 LA-182 in Morgan City, Louisiana, 70380. The property boasts 3,037 square feet situated on a 39,184 square foot lot. The current lease, with a remaining term of approximately 4.4 years (commencing May 3, 2024, and expiring April 30, 2029), offers a strong 6.24% cap rate and a substantial net operating income (NOI) of $105,000. The asking price is $1,750,000, translating to a price per square foot of $554.06. The property benefits from 100% occupancy and a personal guarantee from the franchisee, who has an extensive history with Wendy's, spanning 29 years and currently operating nine stores, with plans to open two more in late 2024 and 2025. The restaurant underwent significant renovations in 2023. This is a 1031 exchange eligible investment, ideal for qualified buyers seeking a secure, high-performing net lease asset. Detailed financial information on the franchisee and lease documents are available upon execution of a non-disclosure agreement.

Location Insight

City

Morgan City

County

St. Mary Parish

State

Louisiana

Latitude

29.694

Longitude

-91.1873

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