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- LoopNet Team
700 Westgate Rd
Lafayette, LA 70506
Farm Stores · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Brand New Construction; Store Opened August 2019!
- Twelve Percent (12.0%) Rental Increases in Year Six; Two and One-Half Percent (2.50%) Rental Increases Annually Thereafter
- Farm Stores performing very well in spite of current challenges. See articles linked to this page.
- Long-Term, 20-Year Absolute Triple Net (NNN) Lease With Over 19 Years Remaining
- Two (2), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 30 Years
PROPERTY FACTS
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Drive Thru
ABOUT 700 WESTGATE RD , LAFAYETTE, LA 70506
Marcus & Millichap is pleased to present the exclusive listing for a brand-new Farm Stores located at 700 Westgate Road in Lafayette, Louisiana. The newly constructed site consists of roughly 640 rentable square feet of building space on estimated 0.73-acre parcel of land. The subject property opened in August of 2019. The Farm Stores property is subject to a brand new 20-year triple-net (NNN) lease, which has over 19 years remaining. The initial annual rent is $58,282 and will increase by twelve percent (12.0%) in year six (6), and then two and one-half percent (2.50%) annually thereafter, throughout the term of the lease and in each option period. There are two (2), five (5)-year tenant renewal options, extending the total possible lease term to 30 years Please refer to articles linked on this page.
PROPERTY TAXES
| Parcel Number | 6162771 | Improvements Assessment | $4,800 |
| Land Assessment | $11,201 | Total Assessment | $16,001 |
PROPERTY TAXES
