58010 Main StPlaquemine, LA 70764

Property Details for 58010 Main St

Property type

Other commercial real estate

APN

300499600

APU

300499600

Description

This exceptional investment opportunity presents a 7,838 square foot Anytime Fitness storefront in Plaquemine, Louisiana, situated on a 0.24-acre lot at 58010 Main St, 70764. The property boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $105,600. The absolute net lease (NNN) features a 13-year remaining term (with two 5-year renewal options) commencing July 1, 2022, and expiring September 30, 2037. Rent escalates 10% every five years, providing significant long-term growth potential. The tenant is responsible for all property taxes, insurance, common area maintenance (CAM), and building upkeep. This location benefits from its proximity to numerous national retailers, including Walmart Supercenter, Dollar Tree, Walgreens, McDonald's, Sonic, and Sherwin-Williams, ensuring high visibility and foot traffic. The building was constructed in 1955. This is a passive investment with substantial upside potential, offering a secure and lucrative return for the discerning investor. The property is strategically located in a high-traffic area, benefiting from strong demographics and a thriving retail environment. This is a rare opportunity to acquire a well-established, high-performing retail property with a long-term lease in place.

Location Insight

City

Plaquemine

County

Iberville

State

Louisiana

Latitude

30.291

Longitude

-91.2374

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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