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Historical Retail Sale Listing - 11% cap rate absolute NNN

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11% cap rate absolute NNN

9829 Airline Drive, Baton Rouge, LA 70816

11% cap rate absolute NNN
  • N/A
  • 65,000 SF
  • Retail
  • Free Standing Bldg
  • Net Lease Investment with 10+ years left on lease
  • 11%
  • 100%
  • 1
  • Single
  • 1982
  • 6.20 AC
Last Verified  6/7/2010 Listing ID  16124296

Highlights

  • Single Tenant Operating successfully for 27 Years
  • Absolute 15 year NNN lease with 2 5 year options
  • Totally renovated and modernized from 2003 thru 1st Qtr 2009
  • Existing assumable Mortgage at 6.25%
  • Premium Location at very busy intersection
  • Long Term Management Team in place receiving performance bonuses

Description

OUTSTANDING RETURN FOR THIS EXCEPTIONAL PROPERTY TOTALLY MODERNIZED AND RENOVATED TO LIKE NEW WITH 15 YEAR NNN LEASE PLUS 2, FIVE YEAR OPTIONS. THIS IS A SALE LEASE BACK FOR A PROFITABLE BOWLING CENTER IN CONTINUING OPERATION FOR PROX 27 YEARS. LIMITED PARTNERSHIP OWNER WITH FOUR GENERAL PARTNERS WILL SELL TO A NEW BUYER WITH THREE GENERAL PARTNERS LEASING BACK WITH 15 YEAR ABSOLUTE NNN LEASE AND CONTINUE TO OPERATE AS A FAMILY BOWLING AND ENTERTAINMENT CENTER. GP's SELECTED THE PROPERTY, DEVELOPED IT AND OVERSAW CONSTRUCTION 27 YEARS AGO. THE GENERAL PARTNERS EACH HAVE OVER 30 YEARS EXPERIENCE IN BOWLING CENTER OPERATIONS. PLEASE REFER TO THE ATTACHMENTS FOR LOTS OF DETAILS AND FINANCIAL PERFORMANCE. PLEASE EXECUTE THE CA TO RECEIVE ADDITIONAL ATTACHED CONFIDENTIAL INFORMATION

PRIME, MAJOR CLOVER LEAF INTERSECTION AT ONE OF THE BUSIEST MAJOR HIGHWAY INTERSECTIONS IN THE CITY. THIS IS IN THE STATE CAPITAL AND HOME OF TOP RANKED UNIVERSITIES INCLUDING LSU. ROBUST POPULATION GROWTH IN RECENT YEARS. ATTACHEMENTS INCLUDE SEVERAL LOCATION MAPS.

Map of 9829 Airline Drive, Baton Rouge, LA 70816 (East Baton Rouge County)

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Created 2/27/2009

Additional Information for 9829 Airline Highway, Baton Rouge, LA 70816

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. TB-P