Investment Offering
Sunset, LA - Dollar General
3204 Highway 754 | Sunset, LA 70584
$1,915,000
Price6.5%
Cap Rate$124,500
NOI12,687
± 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 Sunset, 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 investor.
Location
The property is located at the hard corner intersection of State Highway 754 and State Highway 182 with a combined 10,300 vehicles passing daily. The asset is equipped with highway-facing signage to the primary retail thoroughfare of Sunset, Louisiana. State Highway 182 intersects with the Interstate Highway 49 (45,700 VPD) 2 miles east of the property and provides access from Lafayette, one of the most populous cities in the state, directly to the town of Sunset. The heavily traveled area offers the ideal opportunity for an affordable, easily accessible, all-in-one solution for any consumer need for those in 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, and consumers passing through nearby highways, the asset benefits from access to Red Oak Landing Airport (1.9 miles), Sunset Middle School (2.2 miles), and Bloomfield Apartment Complex (2.3 miles). The 5 mile trade area consists of over 15,700 residents with an average household income of $82,862.