Shopping Strip

Crowley Plaza

725 and 753 Odd Fellows Road, Crowley, LA 70526

Listing Price: $4,116,000

Cap Rate
8.00%
Gross SF
27,228
Rentable SF
27,228
Price/Gross SF
$151.17
Lot Size
2.20 acres
Year Built
1999

Investment Overview

Marcus & Millichap is pleased to present the value-add opportunity to acquire two Walmart shadow-anchored retail centers in Crowley, Louisiana. Crowley Plaza consists of two multi-tenant buildings totaling 27,288-square feet. The center is currently 78 percent leased with 70 percent of the gross leasable area on triple-net leases, providing significant upside potential. Tenants consist of a complementary mix of service-oriented business, including Hibbett Sports, Check into Cash, Cricket Wireless, GameStop, Advance America Cash, AT&T, Republic Finance, Sally Beauty, Express Urgent Care, Novacare-Physical Therapy, and US Agencies Insurance. The buildings are situated on two parcels totaling approximately 2.2 acres and were constructed in 1999. The subject property is located at the hard corner, signalized intersection of Odd Fellows Road and Tower Road just south of Interstate 10. Cumulative traffic counts in front of the property exceed 22,200 vehicles per day. The center is shadow-anchored by Walmart Supercenter and surrounded by many national and regional retailers including Lowe's Home Improvement, Walgreens, Chili's, Wendy's, Chevron, Tractor Supply Co., Aaron's, Little Caesars Pizza, McDonald's, Valero, Dollar General, Subway, Goodwill, Kentucky Fried Chicken, Pizza Hut, Days Inn, and more.

Investment Highlights

  • Prime Opportunity to Acquire Two Walmart Shadow-Anchored Retail Centers Totaling 27,228 Square Feet
  • 78% Cumulative Occupancy | 70% of the Gross Leasable are has Triple-Net Leases | Tremendous Upside Potential | Pro Forma Cap Rate is 10.95%
  • Strong Tenant Base Comprised of a Complementary Mix of Retail and Service-Oriented Businesses | Approximately 59% of the Gross Leasable Area has Credit Tenants
  • 35% of the Gross Leasable Area has Been in the Center for 20 Years

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

Listing Price: $4,116,000

Cap Rate
8.00%
Gross SF
27,228
Rentable SF
27,228
Price/Gross SF
$151.17
Lot Size
2.20 acres
Year Built
1999

Investment Highlights

  • Prime Opportunity to Acquire Two Walmart Shadow-Anchored Retail Centers Totaling 27,228 Square Feet
  • 78% Cumulative Occupancy | 70% of the Gross Leasable are has Triple-Net Leases | Tremendous Upside Potential | Pro Forma Cap Rate is 10.95%
  • Strong Tenant Base Comprised of a Complementary Mix of Retail and Service-Oriented Businesses | Approximately 59% of the Gross Leasable Area has Credit Tenants
  • 35% of the Gross Leasable Area has Been in the Center for 20 Years

Investment Overview

Marcus & Millichap is pleased to present the value-add opportunity to acquire two Walmart shadow-anchored retail centers in Crowley, Louisiana. Crowley Plaza consists of two multi-tenant buildings totaling 27,288-square feet. The center is currently 78 percent leased with 70 percent of the gross leasable area on triple-net leases, providing significant upside potential. Tenants consist of a complementary mix of service-oriented business, including Hibbett Sports, Check into Cash, Cricket Wireless, GameStop, Advance America Cash, AT&T, Republic Finance, Sally Beauty, Express Urgent Care, Novacare-Physical Therapy, and US Agencies Insurance. The buildings are situated on two parcels totaling approximately 2.2 acres and were constructed in 1999. The subject property is located at the hard corner, signalized intersection of Odd Fellows Road and Tower Road just south of Interstate 10. Cumulative traffic counts in front of the property exceed 22,200 vehicles per day. The center is shadow-anchored by Walmart Supercenter and surrounded by many national and regional retailers including Lowe's Home Improvement, Walgreens, Chili's, Wendy's, Chevron, Tractor Supply Co., Aaron's, Little Caesars Pizza, McDonald's, Valero, Dollar General, Subway, Goodwill, Kentucky Fried Chicken, Pizza Hut, Days Inn, and more.

Exclusively Listed By

Broker of Record

  • Chris Shaheen

    Associate

    License(s): LA: BROK.0995692662-ACT

    Louisiana

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