210 Main StNew Iberia, LA 70563

Property Details for 210 Main St

Year built

2001

Lot size

0.45 AC

Property size (Sq ft)

7,920 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 7,920 square foot retail property located at 210 N Main St, New Iberia, LA 70563. The property, built in 2001 and situated on a 0.45-acre lot, is currently 100% occupied by a triple-net (NNN) leased Dollar General, Dollar Tree, and Family Dollar store. The lease commenced March 8, 2001, and expires May 31, 2028, with two 5-year options remaining, each including a 10% rent increase. The current asking price is $449,333, offering a compelling 9.00% cap rate and a strong NOI of $40,440. The tenant boasts an investment-grade credit rating (BBB, S&P) and benefits from a corporate guarantee, ensuring consistent income. The property enjoys a prime location on Main Street, a major thoroughfare, and benefits from its proximity to complementary businesses such as an auto parts shop, bank, and high school. The average household income within a 10-mile radius is $76,540, aligning perfectly with Dollar General's target demographic. Landlord receives $1,300/month for CAM expenses. This is a rare opportunity to acquire a well-established, low-risk retail investment with significant upside potential. The property's long-term lease, strong tenant, and favorable location make it an ideal addition to any portfolio.

Location Insight

City

New Iberia

County

Iberia Parish

State

Louisiana

Latitude

30.0579

Longitude

-91.7374

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