Investment Overview

Marcus & Millichap is pleased to present the fee-simple interest in a 2,500-square-foot Verizon store at 1330 Gause Boulevard in Slidell, Louisiana, offered at $1,575,000 — a 7.14% capitalization rate on $112,500 of net operating income. The property is a 2016 build-to-suit on 0.86 acres with frontage on US-190 / Gause Boulevard, Slidell's dominant retail corridor, carrying 22,900 vehicles per day. The tenant, Cellular Sales of Louisiana, LLC, has operated continuously at the location for a decade and exercised its first five-year renewal option in May 2026, extending the term through November 30, 2031. One additional five-year option remains at $125,023.50 annually — a 7.94% cap on the offering price — which would extend potential occupancy to November 2036. There is no tenant early-termination or kick-out right. The lease is guaranteed by Cellular Sales of Knoxville, Inc., the tenant's parent corporation, under an unconditional and absolute guaranty that survives the tenant's insolvency and continues through the entire term and any renewal or extension, with no cap on amount and no time limit. Cellular Sales is one of the nation's largest authorized retailers of Verizon Wireless, operating nearly 850 stores across 45 states. The lease is double net: the tenant reimburses real estate taxes and insurance and maintains the interior, HVAC, landscaping and parking areas, holding net operating income equal to base rent. Slidell anchors the New Orleans MSA's Northshore at the I-10 / I-12 / I-59 interchange. St. Tammany Parish grew 5.5% between 2020 and 2025 to 279,108 residents, with a median household income of $81,202 — roughly 34% above the Louisiana median.