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La Place, LA - Winn-Dixie
1830 W. Airline Highway | La Place, LA 70068
$9,335,000
Price7.25%
Cap Rate$676,780
NOI62,297
± SF Offering GLA7
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN leased, corporate guaranteed, Winn-Dixie, investment property located in LaPlace, Louisiana. The tenant, Winn-Dixie Stores, Inc., has recently signed a new 10-year extension. The NNN lease is corporate guaranteed with zero landlord responsibilities. The store has strong sales of over $300 per square foot. The subject property was recently remodeled by the tenant with $500,000 in landlord contributions. The building has a new roof with a 20 year guaranty. The subject property also includes a 35,722 sf pad to Winn-Dixie, adjacent to Chili’s Grill & Bar, in which Winn-Dixie would allow the property owner to build a 3,000 sf building. The use and tenant would need to be approved by Winn-Dixie.
Location
Winn-Dixie is strategically located at the signalized, hard corner intersection of Belle Terre Boulevard and West Airline Highway with 56,800 combined vehicles passing by each day. There are several access points off of Belle Terre Boulevard and West Airline Highway. The site is directly adjacent to a Walmart Supercenter anchored center and is situated in the primary retail corridor. Other nearby national/credit tenants include The Home Depot, PetSmart, Dollar General, Walgreens, and more, increasing consumer draw the trade area. The 5-mile trade area is supported by a population of 35,000 and an average household income of $73,000.
Documents & Links
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 Offering Memorandum |  |  |