Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Aaron’s and vacant tenant property located at 301 North Washington Street in Bastrop, Louisiana. This investment is being offered at $442,105 which represents a 9.50% capitalization rate. The subject property is a 13,140 square-foot building, originally constructed in 1960. Aaron’s occupies 11,000 square-feet and the currently vacant tenant space occupies the remaining 2,140 square-feet. There are 3-years remaining on the lease term which expires on June 30th, 2027. Accompanied are two, five-year options, each with 10% rental increase. This double net lease structure calls for landlord responsibilities of roof, structure, and parking lot. Tenant responsibilities include the reimbursement of taxes and insurance. Aaron’s will provide up to $750 per occurrence for common area maintenance and HVAC expenses. This building is situated on the hard corner signalized intersection of North Washington Street and West Cypress Avenue with approximately 7,000 vehicles passing by daily. In recent years, population counts have been steadily increasing and continue to increase through 2028 in the 1, 3, and 5-mile radii. The current 5-mile population sits at 17,722 residents. This site is situated in center Bastrop with retail corridors directly to the north and east. Bastrop, Louisiana is located in the northern part of the state about 25-miles north of Monroe, Louisiana.