Log In/Sign Up
Your email has been sent.
Herc Rentals 129 Banks Ave 14,400 SF Retail Building Lafayette, LA 70506 $2,800,000 ($194.44/SF) 7.29% Cap Rate
INVESTMENT HIGHLIGHTS
- •Corporate Lease with Herc Rentals, Inc | NYSE: HRI - 3rd Largest Equipment Rental Company in the U.S.
- •Former Business Acquired by Herc October 2024 - Nearly 30 Years of Successful Operating History
- •Newer Construction | 2015 Build to Suit - Layout Optimizes Functionality of the Warehouse/Yard
- •5-Year NN Lease with Minimal LL Responsibilities - 4+ Years of Term Remaining with Two 5-Year Options
- •Favorable 3.5% Rental Increases Every Two Years - Upcoming Bumps in November 2026 and 2028
- •Newer Construction | 2015 Build to Suit - Layout Optimizes Functionality of the Warehouse/Yard
EXECUTIVE SUMMARY
The property is secured by a corporate lease with Herc Rentals, Inc., which is publicly traded on the New York Stock Exchange under the ticker symbol HRI. Herc Rentals is the third-largest equipment rental company in the United States. The lease is a five-year NN structure with minimal landlord responsibilities. There are more than four years remaining on the current term, along with two additional five-year renewal options. The tenant acquired the former business in October 2024, which had nearly 30 years of successful operating history prior to the acquisition. The lease includes favorable rental increases of 3.5% every two years, with the next scheduled adjustments in November 2026 and November 2028. Constructed in 2015 as a build-to-suit, the property features a layout designed to optimize the functionality of the warehouse and yard. Herc Rentals recently completed a $5.3 billion merger, acquiring H&E Equipment Services in June 2025, further strengthening its market position. The site offers quick access to Interstate 10 and U.S. Highway 90, both less than a 10-minute drive from the property. The surrounding area boasts strong demographics with consistent year-over-year growth, including more than 252,000 residents within a 10-mile radius.
DATA ROOM Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,400 SF
Building Class
C
Year Built
2015
Price
$2,800,000
Price Per SF
$194.44
Cap Rate
7.29%
NOI
$204,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
2.38 AC
Zoning
Industrial Light
Frontage
108’ on Banks Ave
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6157274 | Improvements Assessment | $137,022 |
| Land Assessment | $36,340 | Total Assessment | $173,362 |
PROPERTY TAXES
Parcel Number
6157274
Land Assessment
$36,340
Improvements Assessment
$137,022
Total Assessment
$173,362
CONTACTS
-
Rory Shelby -
Scott Gould -
Spencer Koch -
Christopher Biuso -
Caitlin Lancaster -
Marcus & Millichap
1 of 4
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Herc Rentals | 129 Banks Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.