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13900 Highway 23 10,640 SF Retail Building Belle Chasse, LA 70037 $2,521,131 CAD ($236.95 CAD/SF) 6.30% Cap Rate
EXECUTIVE SUMMARY
Long Term Occupancy + Extended Lease – Currently there is still
10 years of term remaining with 3 additional 5-year renewals with
rental increases of 10%.
Passive Ownership – The lease requires minimal landlord
responsibilities, offering a both a passive and reliable source of
income.
Corporate Guaranty – As of 2022, Dollar General a $36 Billion
company, has also reported same store sales growth for 33
consecutive years. The retailer continues to prove its resiliency
boasting an investment grade credit rating of BBB (S&P) with
continued growth plans for the future.
10 years of term remaining with 3 additional 5-year renewals with
rental increases of 10%.
Passive Ownership – The lease requires minimal landlord
responsibilities, offering a both a passive and reliable source of
income.
Corporate Guaranty – As of 2022, Dollar General a $36 Billion
company, has also reported same store sales growth for 33
consecutive years. The retailer continues to prove its resiliency
boasting an investment grade credit rating of BBB (S&P) with
continued growth plans for the future.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,640 SF
Building Class
B
Year Built
2019
Price
$2,521,131 CAD
Price Per SF
$236.95 CAD
Cap Rate
6.30%
NOI
$158,831 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.47
Lot Size
0.52 AC
Zoning
A-2
Parking
28 Spaces (1.4 Spaces per 1,000 SF Leased)
Frontage
218’ on River View Drive
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $141,715 CAD | |
| Land Assessment | $13,588 CAD | Total Assessment | $155,303 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$13,588 CAD
Improvements Assessment
$141,715 CAD
Total Assessment
$155,303 CAD
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13900 Highway 23
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