Conn’s HomePlus Baton Rouge,Louisiana

$4,875,000
Under Contract
Property type:Single-Tenant Net Lease

The space

  • Price: $4,875,000
  • Cap Rate: 8.75%
  • Rentable Square Feet: 53,315
  • Annual Rent: $426,520
  • Price PSF: $91.43
  • Year Built/Renovated: 1981 / 2018
  • Lease Guarantor: Conn’s Inc.
  • Lease Type: NNN
  • Option Periods: 4, 5-Year Options
  • Rent Increases: In Option Periods
  • Lease Expiration: 11/30/2028

Description

8888 Airline Highway
Baton Rouge, LA 70815

Investment Highlights

  • Long-Term Tenant (20+ yrs) | 10 Yr Lease Extension in 2018
  • NNN Lease | Four (5-Yr) Options w/ Increases
  • Complete Corporate Remodel in 2018 (New Roof, Parking Lot + 4,000 SF added)
  • Excellent Demographics | Over 212,000 people within 5-miles
  • Traffic Counts exceed 50,000 vpd on Airline Hwy.
  • Good Performing Store | See Agent for Details

 

Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire the fee-simple interest (land & building) in a NNN-leased, Corporate-Guaranteed Conn’s HomePlus investment property located in Baton Rouge, LA. The tenant, Conn’s Appliances Inc., has over 7 years remaining on their 3rd Extension of 10 yrs. Additionally, Conn’s has Four (5-Yr) Options to extend with rental increases. The Lease is guaranteed by Conn’s Inc. (NASDAQ: CONN) who operate 145+ locations throughout the South, and is NNN with limited landlord responsibilities.

Conn’s HomePlus is located along Airline Hwy (US Hwy 61), which is a major artery averaging over 50,000 vpd. Additionally, the property benefits from a lighted access. The site is North of I-12 (155,000+ vpd) and just South of Florida Blvd (53,000+ vpd) where Amazon is currently building a 2.8M sqft distribution facility at the corner of Airline/Florida. The property is positioned in one of the densest areas of Baton Rouge with numerous retailers including Amazon, Wal-Mart, Home Depot, Lowe’s supported by over 212,000 people living within a 5-mile radius, and over 278,500 daytime employees.


PRIMARY POINT OF CONTACT:

Ken Jacobsmeyer

(225) 376-6724

If new browser tab does not open to download the OM, make sure to check that your pop-up blocker is disabled.
You may also contact us at: 954-245-3592 or Click Here to Send Email

For More Information, Download OM:

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card

[contact-form-7 404 "Not Found"]