5295 Highland RdBaton Rouge, LA 70808

Property Details for 5295 Highland Rd

Property type

Land

Property subtype

Commercial land

APN

610003

APU

610003

Description

This exceptional investment opportunity presents a 2,900 square foot, free-standing Cava restaurant in Baton Rouge, Louisiana. Located at 5295 Highland Rd, 70808, this 2023-built property sits on a 0.9-acre lot and benefits from a hard corner location with excellent visibility at the intersection of Highland Road and Lee Drive (21,709 vehicles per day). The property features a drive-thru and is situated within a thriving retail corridor adjacent to Highland Village Shopping Center, anchored by a Walmart Neighborhood Market, and near other national retailers such as The UPS Store, CVS, Walgreens, and Raising Cane's. The tenant, Cava, a publicly traded company, signed a new 15.1-year NNN lease commencing January 3, 2024, and expiring January 31, 2039, with four 5-year renewal options. The lease includes 10% rental increases every five years. The current net operating income (NOI) is $197,199, resulting in a 5.50% cap rate. The asking price is $3,585,453 ($1,236.36 per square foot). The property's strategic location, just one mile from Louisiana State University (over 37,000 students), contributes to its strong performance. The surrounding area boasts a population exceeding 146,000 within a 5-mile radius and an average household income over $90,000. The property offers a long-term, secure investment with significant upside potential due to Cava's growth trajectory (72 new locations in 2023 and 50 in 2024, aiming for 1,000 units by 2032) and the lease's built-in rent escalations. The 20-year roof warranty has 19 years remaining. This is a rare opportunity to acquire a high-performing, corporately guaranteed net lease investment in a prime location.

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.3944

Longitude

-91.1598

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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