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Browse More Listings in Retail For Sale, Baton Rouge, LA or Louisiana

Retail Property For Sale

IDEAL 1031 PROPERTY NNN LEASED

9829 Airline Drive, Baton Rouge, LA 70816

Price:
$6,750,000
Building Size:
65,000 SF
Price/SF:
$103.85
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Property Use Type:
Net Lease Investment with 10+ years left on lease
Cap Rate:
10%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
1982
Lot Size:
6.20 SF
Find Out More...

Last Verified 10/27/2009 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.

Debt & Equity Information

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

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Bert Freehof (561) 901-1031

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Created 2/27/2009

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

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 2 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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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.

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Retail Property For Sale - IDEAL 1031 PROPERTY NNN LEASED

9829 Airline Drive, Baton Rouge, LA, 70816