1637 Martin Luther King BlvdHouma, LA 70360

Property Details for 1637 Martin Luther King Blvd

Year built

1997

Lot size

0.92 AC

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a single-tenant, net-leased Burger King property located at 1637 Martin Luther King Blvd, Houma, LA 70360. The 2,800 square foot building, constructed in 1997 and renovated in 2017, sits on a 0.92-acre lot. The property boasts a strong 6.58% cap rate and a current NOI of $72,473, with a lease expiration date of June 24, 2027 (3 years remaining). The lease is an absolute NNN lease, meaning the tenant is responsible for all operating expenses, providing a passive income stream for the investor. Rent increases are structured with a 10% bump every five years. The property benefits from a ground lease ownership structure. This Burger King is operated by GPS Hospitality, a highly experienced operator of over 400 Burger King restaurants, named Burger King Developer of the Year in 2023. The location is exceptional, situated near numerous national retailers including Walmart, Target, Home Depot, Lowe's, and many popular restaurants. Houma, LA's robust economy, significantly driven by the oil industry, further enhances the property's investment potential. The asking price for this turnkey investment is $1,101,413. This is a rare opportunity to acquire a well-performing, established Burger King in a thriving market.

Location Insight

City

Houma

County

Terrebonne Parish

State

Louisiana

Latitude

29.6099

Longitude

-90.7516

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