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Net Leased investment Located on Government at Acadian adjacent to Rite Aid on Hard Corner Ample Parking. Near the proposed Westmoreland development Leased to Koolsmiles, a national dental clinic with excellent credit. 7 yr NNN Lease commences November 1, 2009.
NOI for 2013 is $108,895, with good bumps per yr. 8% cap,
Located on major signalized hard corner next to Rite Aid between downtown Baton Rouge and Baton Rouge Community College in Mid City Area retailers include Rite Aid, Walgreens, CVS, Albertsons, Piccadilly, Family Dollar, Radio Shack, Subway.
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The typical asking rate per listing is in the $10's per square foot per year. The Mid City South submarket is seeing a a rise in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 15% rise in rent.
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