506 Main StCankton, LA 70584

Property Details for 506 Main St

Lot size

0.97 AC

Property type

Commercial real estate

APN

0200670000A

APU

0200670000A

Description

This exceptional investment opportunity presents a 8,320-square-foot retail property located at 506 Main St, Cankton, LA 70584, featuring a Dollar Tree store under a triple-net (NNN) lease. The property boasts a 6.25% cap rate and a substantial net operating income (NOI) of $67,946. Built in 2016, this single-tenant building sits on a 0.97-acre lot and enjoys 100% occupancy. The lease, commencing April 6, 2016, has a remaining term of 6.9 years, extending to September 29, 2031. The lease includes significant rent bumps of 10% in year 11 and at each option renewal. The tenant, Dollar Tree, Inc., is a Fortune 200 company with a strong credit rating (BBB/Stable from Standard & Poors) and a substantial annual revenue. This investment offers a secure, long-term lease with a financially stable corporate guarantor, making it an attractive addition to any portfolio. The property's price per square foot is $130.65, and the lease includes six, five-year renewal options. This is a rare opportunity to acquire a high-performing, well-located retail asset with a proven track record. The property is situated in St. Landry Parish, Louisiana.

• Alternative Use

  Use

  Valuation

  Residential

  $6,655,225

  Hospitality

  $6,096,150

  Educational

  $5,071,926

  Medical

  $5,246,357

  Retail

  $7,889,662

Location Insight

City

Cankton

County

Saint Landry

State

Louisiana

Latitude

30.3437

Longitude

-92.1091

CBSA code

36660

CBSA name

OPELOUSAS-EUNICE, LA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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