106 Oil Patch RdBroussard, LA 70518

Property Details for 106 Oil Patch Rd

Year built

2023

Lot size

0.96 AC

Property size (Sq ft)

12,000 SF

Property type

Industrial properties

Property subtype

Other industrial properties

Description

This fee-simple industrial property in Broussard, Louisiana, offers a compelling investment opportunity. The 12,000-square-foot distribution center is currently 100% occupied by M&J Valve Services under an absolute NNN lease with a corporate guarantee. The lease commenced April 1, 2023, and has a remaining term of approximately 3.4 years, with two 5-year renewal options at 4.15% rental increases each. This provides a stable income stream and built-in inflation protection. The property boasts a strong net operating income (NOI) of $144,000, resulting in a 7.50% cap rate. Located at 106 Oil Patch Rd, Broussard, LA 70518, on a 0.96-acre lot, the building was constructed in 2023 and features 17 parking spaces. The property is zoned for light industrial use and benefits from its location near US Hwy 90, a major thoroughfare with high daily traffic volume. The building includes two five-ton cranes and HVAC. The property's location within a thriving industrial corridor, alongside established businesses like Sysco, Weatherford, FedEx, and UPS, further enhances its value and potential for future growth. The surrounding area demonstrates strong demographics, with a significant population and high average household income within a 5-mile radius. The asking price is $1,920,000, representing a price per square foot of $160. The property's APN is 6154407.

Location Insight

City

Broussard

County

Lafayette Parish

State

Louisiana

Latitude

30.1646

Longitude

-91.9656

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