Investment Offering
Morse, LA - Dollar General
456 N. Jackson Ave | Morse, LA 70559
$1,659,000
Price6.5%
Cap Rate$107,809
NOI10,640
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, newly constructed, free standing Dollar General located in Morse, Louisiana. The tenant, Dollar General, recently signed a brand new 15 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is an absolute NNN with no landlord responsibilities making it an ideal, management free investment opportunity for a passive, out of state investor.
Location
The investment is located near the hard corner intersection of Lafosse Road and State Highway 91. The state highway intersects with U.S. Highway 90 (3,800 VPD) and provides direct access to the property from Midland High School, Estherwood Elementary, and the remainder of the surrounding community. The retail property represents an affordable, easily accessible, all-in-one solution for virtually any consumer need for those comprising the immediate population. Furthermore, the every day low prices offered by the retailer assimilates seamlessly within a community which does not have access to a wide variety of retail options. Beyond the immediate population, the area does have a consistent flow of consumers passing through via the U.S. Highway 90, State Highway 91, and the Le Gros Memorial Airport located just 2.5 miles from the property. The 5 mile trade area consists of over 2,600 residents with an average household income of $63,890.