5578 LA-1 - Convenience Store FOR SALE


Lockport, LA 70374
$1,709,000 USD
678-808-2762
5578 LA-1, Lockport, LA for Sale
$1,709,000 USD
Convenience Store - FOR SALE
1/3
null | 7% Cap Rate

5578 LA-1
Lockport, LA 70374


OVERVIEW

NEW RELOCATION DOLLAR GENERAL WITH LOWER RENT & PRICE POINT • This Dollar General is a relocation and expansion of an existing store in Lockport which shows Dollar Generals commitment and confidence in the Market. • The subject property has a low rent which equates to a low price point of $1.7M. This price point is lower than most newer construction Dollar Generals. 15 YEAR CORPORATE NNN LEASE WITH INCREASES IN INITIAL TERM AND OPTIONS • This property features a 15-year corporate-guaranteed NNN lease with Dollar General, with 5% rent increases every five years. • The store opened and rent commenced in August 2023. There are 13.5 years remaining on the 15 Year NNN Lease. • The tenant is 100% responsible for all expenses, including parking lot maintenance, taxes, insurance, roof, and structure. • There are 5% rent increases in each of the five, 5-year option periods. LOCATED ON CONNECTOR HIGHWAY TO THE LARGEST EMPLOYER IN COASTAL LOUISIANA • This Dollar General is positioned on Highway 1 (10,587 VPD), the primary highway connecting Lockport and New Orleans to Port Fourchon. • Port Fourchon services over 90% of the Gulf of Mexico’s deepwater oil production and supports over 250 companies and 10,804 employees statewide. • Every month, over 24,000+ commercial trucks pass this Dollar General on Highway 1 delivering equipment and supplies to the port. • This port contributes $3.4 billion to Louisiana’s economy, including $2.8 billion in sales and $657 million in household earnings. • Port Fourchon handles over 270 vessels daily and generates $4.5 billion in revenue for the U.S. Treasury. • The average 5 mile income which is $91,061 and this superior to most than most Dollar General locations NEAR NEW ORLEANS | LARGEST CITY IN LA • The subject property is located 50 miles away from downtown New Orleans. • New Orleans is the largest MSA in Louisiana, with a population of approximately 1.2 million residents. • The city is known for its tourism, port operations, energy sector, and a growing technology & healthcare industry. • Headquarters of major companies such as Entergy, Smoothie King, Tidewater Inc., and Pan-American Life Insurance Group are located in New Orleans. • Over ten universities and colleges are in New Orleans, educating approximately 50,000 students. • Top employers include Ochsner Health System, Tulane University, the City of New Orleans, and LCMC Health. • The Port of New Orleans is one of the largest ports in the U.S., supporting international trade and logistics with a significant economic impact on the region. INVESTMENT-GRADE TENANT (S&P: BBB) WITH 21,000 LOCATIONS • Dollar General is a publicly traded (NYSE: DG) Fortune 500 company with an S&P investment-grade credit rating of BBB. • Currently, there are over 21,000 locations, with plans to open 575 new stores in 2025. • Dollar General has been in business for 80 years and has a current net worth of over $18.16 billion.

FOR SALE DETAILS

PRICE

$1,709,000 USD

PRICE/SF

$161 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General | Rare Relocation Store

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Don McMinnMarcus & MillichapMore Info
678-808-2762

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Don McMinnMarcus & MillichapMore Info
678-808-2762

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