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

Mixed-use properties

Property subtype

Other industrial properties

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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