3319 Texas StBossier City, LA 71111

Property Details for 3319 Texas St

Year built

2006

Lot size

1.39 AC

Property size (Sq ft)

12,000 SF

Property type

Industrial properties

Property subtype

Loft space

APN

162574

APU

162574

Description

This exceptional investment opportunity presents a 12,000 square foot, single-tenant net-leased auto shop in Bossier City, Louisiana. The property, built in 2006, is situated on a 1.39-acre lot and boasts a 100% occupancy rate with Gerber Collision & Glass, a subsidiary of the publicly traded Boyd Group Services, Inc. The current lease, commenced March 18, 2022, has a remaining term of 7.3 years with a 10-year initial term and includes 10% rental increases every five years. The property features a strong Net Operating Income (NOI) of $143,256, resulting in a compelling 6.23% cap rate and a price per square foot of $191.67. The asking price is $2,300,000. The property is zoned B-3 and benefits from a prime retail location. Gerber recently invested in new roofing systems with a 20-year warranty starting January 2024. This investment offers a secure, long-term lease with a financially stable and growing tenant in a desirable location, presenting significant potential for return. The low rent-to-sales ratio further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential.

Location Insight

City

Bossier City

County

Bossier

State

Louisiana

Latitude

32.53

Longitude

-93.6955

CBSA code

43340

CBSA name

SHREVEPORT-BOSSIER CITY, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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