310 W Main St - Storefront FOR SALE


Gramercy, LA 70052
$525,000 USD
504-301-1002
310 W Main St, Gramercy, LA for Sale
$525,000 USD
Storefront - FOR SALE
1/3
null | 7.56% Cap Rate

310 W Main St
Gramercy, LA 70052


OVERVIEW

Available for sale, 310 E Main Street offers a stabilized single tenant NNN investment property with strong tenancy history. The tenant, Variety Wholesalers (operating as Roses Express), has hundreds of stores nation wide and has roots at this site since 1989. Additionally, Variety Wholesalers recently announced that they will be purchasing an additional 200-400 former Big Lots stores throughout the nation. The lease was most recently extended for a new 5 year term in 2021, and tenant has no plans of relocating. The property, standing at nearly 15,000 SF, features ample off-street parking, strong street presence along Main Street, new roof c. 2022, and major renovation after Hurricane Ida to modernize and repair the building. The tenant is currently paying $38,500/year + NNN in addition to a percentage rent (which in recent years has been averaged ±$1,200/year). The site is located in Gramercy and provides one of the only shopping outlets in the area. Gramercy is located between New Orleans and Baton Rouge and sits right on the Mighty Mississippi.

FOR SALE DETAILS

PRICE

$525,000 USD

PRICE/SF

$35 USD /SF

CAP RATE

7.56%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Super 10

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

100059900

ASK ABOUT THIS PROPERTY

Ben Jacobsonben + burkaMore Info
504-301-1002

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Ben Jacobsonben + burkaMore Info
504-301-1002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.