76435 LA-437 - Freestanding FOR SALE


Covington, LA 70435
$1,936,210 USD
312-957-7212
76435 LA-437, Covington, LA for Sale
$1,936,210 USD
Freestanding - FOR SALE
1/7
null | 7% Cap Rate

76435 LA-437
Covington, LA 70435


HIGHLIGHTS

  • Long Term Tenant
  • Attractive Rent Increases
  • Zero Management Responsibilities
  • Investment Grade Credit
  • Strategic Location
  • Limited Competition

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a new construction freestanding Dollar General investment property located at 76435 Highway 437 in Covington, Louisianna (the “Property”). Constructed in 2024, Dollar General has 14 years remaining on their Absolute NNN Lease with five (5), 5-year renewal options. The lease features attractive 5% rent increases every five years throughout the primary lease term and at the start of each renewal option. The new construction Property is positioned along LA Route 437, the area’s primary commuter corridor. The Property is five miles north of Downtown Covington and offers convenient access to the area’s main roads including LA Routes 1081, 21, 25, and 40, and US Highway 190. The Property is across the street from Tammany Terrace, a newer residential development featuring more than 75 attractive single-family homes and is close to several other residential neighborhoods. Covington is situated in southern Louisianna on the north shore of Lake Pontchartrain and is approximately 50 miles north of New Orleans.

FOR SALE DETAILS

PRICE

$1,936,210 USD

PRICE/SF

$183 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,476 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Michael MintzHorvath & TremblayMore Info
312-957-7212

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Michael MintzHorvath & TremblayMore Info
312-957-7212

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