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19151 Florida Blvd 2,009 SF Retail Building Albany, LA 70711 $795,000 ($395.72/SF) 6.58% Cap Rate
INVESTMENT HIGHLIGHTS
- Popular national tenant
- JJB Brands is successful franchisee
EXECUTIVE SUMMARY
This income-producing investment property features a 12-year primary term lease with a nationally recognized tenant. The 2,008-sf modern building was built in 2020 and features a drive thru as well as ample parking on the 0.883-acre parcel. It is located at 19151 Florida Blvd, a high traffic corridor with excellent visibility.
The building features a drive thru window, which is a relatively new concept for Pizza Hut. The drive thru is meant to be more efficient and convenient for customers in the area.
The tenant is JJB Pizza, LLC, a franchisee of Pizza Hut, an established brand with a long history of success. The long-term NNN lease commenced in November 2020 with an attractive rent schedule. A NNN structure results in minimal landlord responsibilities. This property qualifies for a 1031 Exchange.
The building features a drive thru window, which is a relatively new concept for Pizza Hut. The drive thru is meant to be more efficient and convenient for customers in the area.
The tenant is JJB Pizza, LLC, a franchisee of Pizza Hut, an established brand with a long history of success. The long-term NNN lease commenced in November 2020 with an attractive rent schedule. A NNN structure results in minimal landlord responsibilities. This property qualifies for a 1031 Exchange.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,009 SF
Building Class
B
Year Built
2020
Price
$795,000
Price Per SF
$395.72
Cap Rate
6.58%
NOI
$52,311
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
0.88 AC
Parking
12 Spaces (5.97 Spaces per 1,000 SF Leased)
Frontage
102’ on Florida Blvd
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0292771 | Improvements Assessment | $44,200 |
| Land Assessment | $3,000 | Total Assessment | $47,200 |
PROPERTY TAXES
Parcel Number
0292771
Land Assessment
$3,000
Improvements Assessment
$44,200
Total Assessment
$47,200
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19151 Florida Blvd
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