Grocery Store

Farm Stores

Listing Price: $749,000

Cap Rate
7.78%
Tenant Name
LA Service Solutions, LLC*
Years Remaining On Lease
19.00
Gross SF
640
Guarantor
Corporate Guarantee
Rentable SF
640
Price/Gross SF
$1,170.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$91.07

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Farm Stores located at 700 Westgate Road in Lafayette, Louisiana. The newly constructed site consists of roughly 640 rentable square feet of building space on estimated 0.73-acre parcel of land. The subject property opened in August of 2019. The Farm Stores property is subject to a brand new 20-year triple-net (NNN) lease, which has over 19 years remaining. The initial annual rent is $58,282 and will increase by twelve percent (12.0%) in year six (6), and then two and one-half percent (2.50%) annually thereafter, throughout the term of the lease and in each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 30 years

Investment Highlights

  • Brand New Construction; Store Opened August 2019!
  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease With Over 19 Years Remaining
  • Twelve Percent (12.0%) Rental Increases in Year Six; Two and One-Half Percent (2.50%) Rental Increases Annually Thereafter

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Barry M. Wolfe

    Senior Managing Director Investments

    (954) 245-3493

    Email Barry

    License(s): FL: SL702613

    Fort Lauderdale

Listing Price: $749,000

Cap Rate
7.78%
Tenant Name
LA Service Solutions, LLC*
Years Remaining On Lease
19.00
Gross SF
640
Guarantor
Corporate Guarantee
Rentable SF
640
Price/Gross SF
$1,170.31
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$91.07

Investment Highlights

  • Brand New Construction; Store Opened August 2019!
  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease With Over 19 Years Remaining
  • Twelve Percent (12.0%) Rental Increases in Year Six; Two and One-Half Percent (2.50%) Rental Increases Annually Thereafter

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Farm Stores located at 700 Westgate Road in Lafayette, Louisiana. The newly constructed site consists of roughly 640 rentable square feet of building space on estimated 0.73-acre parcel of land. The subject property opened in August of 2019. The Farm Stores property is subject to a brand new 20-year triple-net (NNN) lease, which has over 19 years remaining. The initial annual rent is $58,282 and will increase by twelve percent (12.0%) in year six (6), and then two and one-half percent (2.50%) annually thereafter, throughout the term of the lease and in each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 30 years

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Barry M. Wolfe

    Senior Managing Director Investments

    (954) 245-3493

    Email Barry

    License(s): FL: SL702613

    Fort Lauderdale

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