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b1BANK - Monroe, LA 2271 Tower Dr 3,500 SF Retail Building Monroe, LA 71201 $2,680,000 ($765.71/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- 2023 build-to-suit b1BANK relocation site that features state-ofthe- art design and Class A construction, along with three drivethru lanes.
- Long-term net lease with over 7 years remaining, featuring 1.2% rent increases annually, providing a strong hedge against inflation.
- Surrounding new construction homes highlight the strength of the immediate submarket.
- Corporately guaranteed lease by Business First Bancshares (NASDAQ: BFST) — $250 million in revenue in 2024 and a market cap of over $824 million.
- 6 banks are positioned within 1/2 mile of the subject property, demonstrating the strategic nature of the site for b1BANK.
- This property is shadow anchored by a top-performing Walmart; according to Placer.ai, this Walmart is in the 77th percentile in Louisiana.
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale the brand new construction, build-to-suit b1BANK located at 2271 Tower Dr in Monroe, LA. The initial 10-year corporate guaranteed lease features two 5-year options to extend, and 1.2% rental increases annually throughout the initial term and both option periods. This site is a strategic relocation for b1BANK, which benefits from a Walmart shadow anchor, one of the top-performing Walmarts in Louisiana. This offering presents the opportunity to acquire a 2023 construction, corporate tenant with a growing NOI, making it an ideal, low-management opportunity for an investor.
In Cooperation With Sands Investment Group Louisiana, LLC - Lic. #BROK.0995702111-CORP BoR: Andrew Ackerman - Lic. LA #BROK.0995700567-ACT
In Cooperation With Sands Investment Group Louisiana, LLC - Lic. #BROK.0995702111-CORP BoR: Andrew Ackerman - Lic. LA #BROK.0995700567-ACT
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,500 SF
Building Class
B
Year Built
2023
Price
$2,680,000
Price Per SF
$765.71
Cap Rate
6.65%
NOI
$178,201
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.68 AC
Parking
17 Spaces (4.86 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- b1BANK
- Administrative and Support Services
- 3,500 SF
- -
- Double Net
- Jun 2033
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| b1BANK | Administrative and Support Services | 3,500 SF | - | Double Net | Jun 2033 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 113484 | Improvements Assessment | $149,799 |
| Land Assessment | $27,420 | Total Assessment | $177,219 |
PROPERTY TAXES
Parcel Number
113484
Land Assessment
$27,420
Improvements Assessment
$149,799
Total Assessment
$177,219
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b1BANK - Monroe, LA | 2271 Tower Dr
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