Investment Overview

Marcus & Millichap is pleased to exclusively list Bluebonnet Square, a 38,594-square-foot shopping center located at 10330 Airline Highway in Baton Rouge, Louisiana. The property is situated on the hard-corner of the signalized intersection of Airline Highway and Bluebonnet Boulevard (Coursey Boulevard) with exceptional access and visibility, and traffic counts exceeding 66,000 vehicles per day. The area has a high population density, with over 192,978 residents within a five-mile radius. With a day one CAP rate of 7 percent at 93 percent occupancy, Bluebonnet Square presents a promising investment opportunity, providing a value-add opportunity to lease the remaining 2,842 square feet. At a conservative rental rate of $18 per square foot plus triple net reimbursements, an investor could increase the CAP rate to 7.52 percent. Further value-add components available to an investor include developing an additional 2,200-square-foot-suite on the pad site and incorporating the ability to reimburse for management fees into the current leases. Bluebonnet Square is located in a thriving submarket, adjacent to major retailers such as Costco, The Home Depot, McDonald’s, Floor & Décor, Dollar Tree, Burger King, Volvo, John Deere, and many others. The area also continues to see new developments as medical offices and apartments are scheduled for construction across the street from Bluebonnet Square.