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1798 Martin Luther King Jr Blvd 4,261 SF 100% Leased Retail Building Houma, LA 70360 $3,628,371 CAD ($851.53 CAD/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare dual drive-thru asset.
- 11 Hotels along the Martin Luther King Blvd corridor.
- Strong access that includes left hand turns in and out from Martin Luther King Blvd.
- Prime retail corridor with Walmart, The Home Depot, Lowe’s, Target, Petco, Hobby Lobby, Academy Sports, and Five Below.
- Synergistic tenancy.
- 1 of 42 corporate-run New Orleans Original Daiquiris.
EXECUTIVE SUMMARY
Bellagio Real Estate Partners, in conjunction with Bang Realty, Inc., is pleased to present a rare two-tenant asset with dual drive-thrus located at 1798 Martin Luther King Blvd in Houma, Louisiana. Occupied by Dairy Queen and New Orleans Original Daiquiris the property features long-term leases and strong built-in rental increases. Positioned along Houma’s primary retail corridor, the site is surrounded by major national retailers including Walmart, Target, Lowe’s, and The Home Depot. The asset benefits from excellent access, prominent visibility, a pylon sign, and ample shared parking. Dairy Queen is operated by a franchisee with 33 units across 5 states. New Orleans Original Daiquiris is a corporately operated unit by 190 Octane Marks LLC which operates both Fat Tuesdays and New Orleans Original Daiquiris which has 75 total locations, 42 of which are corporate. This offer presents a stabilized, passive investment with e-commerce and recession proof tenants.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,261 SF
Building Class
C
Year Built
2021
Price
$3,628,371 CAD
Price Per SF
$851.53 CAD
Cap Rate
6.65%
NOI
$241,284 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.00 AC
Zoning
C2 - Commercial
Parking
46 Spaces (10.8 Spaces per 1,000 SF Leased)
Frontage
260’ on MLK Blvd
AMENITIES
- Bus Line
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 65435 | Improvements Assessment | $162,791 CAD |
| Land Assessment | $73,076 CAD | Total Assessment | $235,867 CAD |
PROPERTY TAXES
Parcel Number
65435
Land Assessment
$73,076 CAD
Improvements Assessment
$162,791 CAD
Total Assessment
$235,867 CAD
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1798 Martin Luther King Jr Blvd
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