El Paso Mexican Grill Lake Charles, Louisiana

$1,715,000
Cap Rate: 7.17
Closed
SKU: 2638 Derek Drive, Lake Charles, Louisiana 70607
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 7.17
Year Built: 2003.2017
NOI: $122,939
Building Size: 6,532 sq. ft.
Lot Size: 1.57 Acres
Lease Expiration: 6/30/2027
  • Surrounded by national retailers including a Walmart Supercenter, Lowe’s, and Home Deport among others
  • 10-Year NN lease with one five-year option period
  • Rental increases built-in

El Paso Mexican Grill is located between Houston, Texas to the West, and New Orleans, Louisiana to the East. El Paso Mexican Grill is surrounded by national retailers including Walmart Supercenter, Lowe’s, Home Depot, Academy Sports, Old Navy, PetSmart, Michael’s, Ashley Home Store, Hobby Lobby, Dollar Tree, Outback Steakhouse, Logan’s Roadhouse, Taco Bell, Wendy’s, Chili’s Grill & Bar and many more. It is conveniently located less than four miles from Chennault International Airport and Mcneese State University, with an enrollment of more than 16,000 students and 1,150 staff members. El Paso Mexican Grill is within close proximity to Interstate 20.

Investment highlights include a new 10-Year double net (NN) lease with one, five-year option period. Plus the advantage of rental increases throughout the base term and option period. El Paso has 21 locations throughout the state of Florida and Louisiana, with plans for five new locations to open soon.

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