2968 Texas StBossier City, LA 71111

Property Details for 2968 Texas St

Year built

1993

Lot size

1.99 AC

Property size (Sq ft)

8,296 SF

Property type

Retail space

APN

128504

APU

128504

Description

This exceptional 8,500-square-foot restaurant building, situated on a 1.977-acre lot, presents a remarkable investment opportunity in Bossier City, Louisiana. Formerly a Red Lobster, this single-story, 1993-built structure is zoned B-3, offering versatility for various uses. The property boasts a prime location on Pierre Bossier Mall, a high-traffic outparcel near the intersection of Airline Drive and East Texas Street, experiencing over 31,000 daily vehicle counts. Its strategic placement benefits from proximity to major retailers and restaurants including Dillard's, JCPenney's, Chili's, Starbucks, IHOP, Burger King, and more. Significant traffic generators such as Barksdale Air Force Base (over 11,000 employees), Bossier Parish Community College, and the Bossier City Civic Center/Police Department further enhance its appeal. The asking price is $2,200,000, translating to $258.82 per square foot. The property is available for lease under a NNN (Triple Net) lease agreement. The lot size is 86,131 square feet, and the property will be vacant on May 13, 2024, with an available date of June 25, 2024. This is a rare chance to acquire a well-positioned, substantial commercial property in a thriving Louisiana market.

• CAP approach

  CAP return

  Valuation

  6%

  $3,352,410

  6.5%

  $3,094,532

  7%

  $2,873,494

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,948,704

  Geo Method

  $1,495,400

• Alternative Use

  Use

  Valuation

  Residential

  $2,610,354

  Hospitality

  $2,391,070

  Educational

  $1,989,342

  Medical

  $2,057,759

  Retail

  $3,094,532

Location Insight

City

Bossier City

County

Bossier

State

Louisiana

Latitude

32.5282

Longitude

-93.7031

CBSA code

43340

CBSA name

SHREVEPORT-BOSSIER CITY, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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