5044 Ambassador Caffery PkwyLafayette, LA 70508

Property Details for 5044 Ambassador Caffery Pkwy

Year built

2011

Lot size

1.69 AC

Property size (Sq ft)

13,257 SF

Property type

Commercial real estate

APN

6013310

APU

6013310

Description

This exceptional investment opportunity presents a fee-simple ownership of a CVS Pharmacy located at 5044 Ambassador Caffery Pkwy, Lafayette, LA 70508. The property boasts a 13,037 square foot building situated on a 1.69-acre lot, featuring a convenient drive-thru pharmacy. Built in 2008, this single-story structure enjoys 100% occupancy under an absolute NNN lease with a corporate guarantee from CVS Pharmacy, a credit tenant rated BBB+ by Standard & Poor's. The lease, expiring January 31, 2035, provides a remaining term of 11 years with two 5-year renewal options. The property generates a substantial net operating income (NOI) of $444,607, resulting in an attractive 9.00% cap rate. The asking price is $4,940,077, translating to a price per square foot of $378.93. This prime retail location benefits from high traffic counts exceeding 28,000 vehicles daily on Ambassador Caffery Parkway, and is strategically positioned near numerous national retailers and hotels, including Costco, Target, Courtyard Marriott, Popeyes, Chick-fil-A, and TopGolf. The property's proximity to large residential communities, with over 57,662 people residing within a 3-mile radius, further enhances its appeal. This is an ideal passive investment opportunity offering long-term stability and significant return.

Location Insight

City

Lafayette

County

Lafayette

State

Louisiana

Latitude

30.1456

Longitude

-92.0334

CBSA code

29180

CBSA name

LAFAYETTE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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