509 Hospital RdNew Roads, LA 70760

Property Details for 509 Hospital Rd

Year built

2023

Lot size

0.70 AC

Property size (Sq ft)

1,421 SF

Property type

Retail properties

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a fee-simple ownership of a Take 5 Oil Change in New Roads, Louisiana. The property boasts a 1,421 square foot building situated on a 0.7-acre lot at 509 Hospital Rd, 70760. Built in 2023, this single-tenant retail property operates under a 20-year absolute triple-net (NNN) lease with a corporate guarantee from Driven Brands Funding, LLC. The current annual net operating income (NOI) is $90,000, representing a 6.50% capitalization rate. The lease features a strong rent of $974.39 per square foot and includes attractive annual rent increases of 1.50% starting in year two, further enhancing the investment's long-term value. Four, five-year tenant renewal options provide additional security and predictable income growth. The property's 100% occupancy and strong tenant covenant make this a compelling investment for discerning buyers seeking a stable, high-yield asset in a desirable location. This is a sale-leaseback transaction, closing upon escrow. The asking price is $1,384,615.

Location Insight

City

New Roads

County

Pointe Coupee Parish

State

Louisiana

Latitude

30.6863

Longitude

-91.466

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].