1204 Elton RdJennings, LA 70546

Property Details for 1204 Elton Rd

Lot size

1.49 AC

Property type

Other commercial real estate

APN

221864409

APU

221864409

Description

This exceptional investment opportunity presents a fee-simple interest in a 13,348-square-foot CVS Pharmacy located at 1204 Elton Rd, Jennings, LA 70546. The property, built in 2015, sits on over 1.5 acres and is an outparcel to a Dollar General-anchored retail center, less than one mile from Jennings American Legion Hospital. The property benefits from a strong location with high traffic counts, boasting approximately 34,500 cars per day at the intersection. The CVS Pharmacy operates under a 25.3-year absolute NNN lease, commencing October 16, 2015, and expiring January 31, 2041, leaving over 16 years remaining on the initial lease term. The lease includes ten (10) five (5)-year renewal options and features a drive-thru window. The annual net operating income (NOI) is $237,506, representing a 6.00% cap rate and a price per square foot of $296.55. The asking price is $3,958,400. CVS Pharmacy, a credit-rated tenant with a corporate guarantee, provides significant financial stability and minimal landlord responsibilities. Jennings is conveniently located 40 minutes from Lafayette and 90 minutes from Baton Rouge, LA. This is a rare opportunity to acquire a high-quality, long-term, net-leased investment with a nationally recognized tenant. There are no rent holidays.

• Alternative Use

  Use

  Valuation

  Residential

  $20,422,178

  Hospitality

  $18,706,606

  Educational

  $15,563,676

  Medical

  $16,098,935

  Retail

  $24,210,164

Location Insight

City

Jennings

County

Jefferson Davis

State

Louisiana

Latitude

30.2321

Longitude

-92.663

CBSA code

27660

CBSA name

JENNINGS, LA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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