1545 Millerville RdBaton Rouge, LA 70816

Property Details for 1545 Millerville Rd

Lot size

1.18 AC

Property type

Investment properties

Property subtype

Retail residential properties

APN

2502895

APU

2502895

Description

Exceptional investment opportunity in Baton Rouge, Louisiana, featuring a 3,600 square foot, net-leased retail property currently occupied by a credit-rated pharmacy. Built in 2022, this single-tenant building boasts a 15-year lease commencing December 15, 2022, and expiring October 15, 2037, leaving a substantial 12.9 years remaining. The property enjoys a 100% occupancy rate since its opening date of December 15, 2022, generating a strong net operating income (NOI) of $152,676 and a 6.25% cap rate. Located at 1545 Millerville Rd, Baton Rouge, LA 70816, this prime retail space benefits from its strategic location near major anchors such as Super Target, Lowe's, Best Buy, Office Depot, Chili's, Chick-fil-A, and PetSmart, all situated just off Interstate 12. The asking price is $2,442,816, translating to $678.56 per square foot. The lease includes escalations every five years, providing built-in rent growth and a high barrier to entry for competitors. This NNN lease structure minimizes landlord responsibilities, making it an attractive investment for those seeking passive income and long-term stability. The property is ideally suited for a 1031 exchange.

Location Insight

City

Baton Rouge

County

East Baton Rouge

State

Louisiana

Latitude

30.446

Longitude

-91.0239

CBSA code

12940

CBSA name

BATON ROUGE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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