Investment Overview

Marcus and Millichap is pleased to exclusively offer for sale the Aaron’s and The Ugly Peacock located at 3255 West Oak Street in Jena, Louisiana. This investment is being offered at $336,000 which represents a 10.00% capitalization rate. The subject property is a 11,250 square-foot building, originally build in 1970. Aaron’s occupies 6,000 square feet and The Ugly Peacock occupy 5,250 square feet. There are 2.8-years remaining on the Aaron’s lease term which expires on February 26th, 2027. Accompanied are two, five-year options, each with 10% rental increase. The Ugly Peacock, a consignment store, are currently on a month-to-month lease. 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 site is located along West Oak Street, which is the main east/west roadway through the city of Jena and sees approximately 8,800 vehicles passing by daily. The current 5-mile population sits at 7,783 residents. Trends indicate an increase in population in the 1, 3, and 5-mile radii through 2028. Aaron’s and The Ugly Peacock are positioned in reach of both major retail hubs in the area to the north and south with over 13,000 vehicles feeding through the center of town daily.