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Shopping Strip

Scott Oaks Plaza

5505 Cameron St, Scott, LA 70583

Listing Price: $5,660,000

Cap Rate
8.51%
Gross SF
70,405
Rentable SF
70,405
Price/Gross SF
$80.39
Lot Size
6.00 acres
Year Built
1985

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Scott Oaks Shopping Center, which is located at 5505 Cameron Street, Scott, Louisiana 70583. Scott Oaks Shopping Center is a Piggly Wiggly grocery-anchored retail center, totaling 70,405 square feet of gross leasable area on six acres of land.

Scott Oaks Shopping Center is available to be purchased for $5,660,000, which is a 8.51 percent cap rate day one, and the price per square foot of the building is $80.39, which is significantly below replacement cost. A purchaser may add value by leasing vacant space, totaling 3,000 square feet (4.26 percent of the shopping center). By leasing the vacancy at a rate of $11 per square foot plus triple-nets, the cap rate would increase to 9.22 percent.

The shopping center has been well-maintained, including a brand-new roof with a 20-year manufacturer’s warranty and two-year labor warranty for a significant amount of the shopping center, further outlined in the Offering Memorandum.

Scott Oaks Shopping Center is anchored by Piggly Wiggly grocery store, whose location at this site performs in the top 20 percent of Piggy Wiggly stores across the nation and is ranked second in the State of Louisiana in terms of foot traffic. Foot traffic data provided by Placer AI is outlined in the Offering Memorandum.

Investment Highlights

  • Anchored by Piggy Wiggly Grocery Store
  • Price Significantly Below Replacement Cost: $80.39 Per Square Foot
  • Affordable Rents with Room to Increase Rents for Upside
  • Upside Potential by Leasing Vacancies totaling 3,000 Square Feet (4.26 Percent Vacancy)
  • Brand New Roof on Large Portion of Shopping Center

Exclusively Listed By

Financing By

Shopping Strip

Scott Oaks Plaza

Listing Price: $5,660,000

Cap Rate
8.51%
Gross SF
70,405
Rentable SF
70,405
Price/Gross SF
$80.39
Lot Size
6.00 acres
Year Built
1985

Investment Highlights

  • Anchored by Piggy Wiggly Grocery Store
  • Price Significantly Below Replacement Cost: $80.39 Per Square Foot
  • Affordable Rents with Room to Increase Rents for Upside
  • Upside Potential by Leasing Vacancies totaling 3,000 Square Feet (4.26 Percent Vacancy)
  • Brand New Roof on Large Portion of Shopping Center

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Scott Oaks Shopping Center, which is located at 5505 Cameron Street, Scott, Louisiana 70583. Scott Oaks Shopping Center is a Piggly Wiggly grocery-anchored retail center, totaling 70,405 square feet of gross leasable area on six acres of land. Scott Oaks Shopping Center is available to be purchased for $5,660,000, which is a 8.51 percent cap rate day one, and the price per square foot of the building is $80.39, which is significantly below replacement cost. A purchaser may add value by leasing vacant space, totaling 3,000 square feet (4.26 percent of the shopping center). By leasing the vacancy at a rate of $11 per square foot plus triple-nets, the cap rate would increase to 9.22 percent. The shopping center has been well-maintained, including a brand-new roof with a 20-year manufacturer’s warranty and two-year labor warranty for a significant amount of the shopping center, further outlined in the Offering Memorandum. Scott Oaks Shopping Center is anchored by Piggly Wiggly grocery store, whose location at this site performs in the top 20 percent of Piggy Wiggly stores across the nation and is ranked second in the State of Louisiana in terms of foot traffic. Foot traffic data provided by Placer AI is outlined in the Offering Memorandum.

Exclusively Listed By

Financing By

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