Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a stabilized 9,540-square-foot, multi-tenant retail center located in Morgan City, Louisiana. Bayou Vista Plaza is currently 100 percent occupied, and all leases are triple-net providing limited landlord responsibilities. The tenant base is a complementary mix of retailers, and 81 percent of the gross leasable area is leased to national tenants. Anchored by CATO, other tenants include GameStop and Twisted Exotic Tobacco. Additional income is derived from a lease with Action Advertising billboard, America's Thrift Stores donation recycle bin, and a Gulf Ice kiosk located in the parking lot. Constructed in 2014, the building is situated on 0.99 acres with a double-sided pylon sign providing additional exposure to the center. The subject property is located on U.S. Highway 90 (U.S. Route 90), a major east-west thoroughfare. Traffic counts are approximately 32,285 vehicles per day in front of the property. Bayou Vista Plaza is shadow-anchored by Walmart Supercenter, driving approximately 1.9 million visits annually. Numerous other national and regional tenants are in the surrounding area, including Harbor Freight Tools, O'Reilly Auto Parts, Tractor Supply Co., Burger King, McDonald's, Taco Bell, Hibbett Sports, Dollar Tree, Shoe Dept., T-Mobile, Anytime Fitness, and more. The subject property is also in close proximity to multiple hotels and school campuses providing additional traffic to the area. The 10-mile population is approximately 32,443 residents having an average household income of $61,346.