310 Main StGramercy, LA 70052

Property Details for 310 Main St

Year built

1800

Property type

Other commercial real estate

APN

100059900

APU

100059900

Description

This exceptional investment property, located at 310 E Main Street in Gramercy, Louisiana, presents a rare opportunity to acquire a stabilized, single-tenant NNN investment. The nearly 15,000 square foot building is currently leased to Variety Wholesalers (operating as Roses Express), a national retailer with a long-standing presence at this location since 1989. The tenant recently extended their lease for a five-year term in 2021 and shows no signs of relocating, further solidifying the investment's stability. Variety Wholesalers' recent announcement of acquiring additional stores nationwide underscores their continued growth and commitment to this location. The property boasts ample off-street parking and excellent street visibility on Main Street. Significant improvements have been made, including a new roof installed around 2022 and extensive renovations following Hurricane Ida to modernize and repair the building. The current annual lease payment is $38,500 plus NNN expenses, supplemented by an average annual percentage rent of approximately $1,200. Situated in Gramercy, between New Orleans and Baton Rouge, directly on the Mississippi River, this property serves as a vital shopping destination in the area. This is a strong, cash-flowing investment with a proven track record and significant upside potential.

Location Insight

City

Gramercy

County

Saint James

State

Louisiana

Latitude

30.048

Longitude

-90.6879

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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