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Walgreens - Baker, LA

Located east of the Mississippi River in a quiet suburb of Baton Rouge, LA. This newly constructed and rare 25-year NNN lease is built in front of a childcare center and across the street from a newly constructed Super WalMart Center which is also home to a GameStop, Payless Shoe Source, CATO Fashions, the Athlete's Foot, and Wings-N-More.

 

Other national retailers in the immediate area include: KFC, Taco Bell, Dollar General, Popeye's, Advance Auto, Sonic Drive Thru and an Exxon Gas Station.Baker is a small city in East Baton Rouge Parish, Louisiana. It is the 3rd largest city in East Baton Rouge Parish.

 

Baker is home to the 926th Mobility Augmentation Company (National Guard). Baker is also known for the Baker Buffalo Festival which is held on the last full weekend of September. It started in 1993 as a fund raiser for the local public schools, but since has blossomed into an annual parade, queen's pageant, and a car show. Bethany College, a spiritual and residential community campus is located less than one-half mile from the site to the south.

 

With limited national dedicated drug store presence in the region (Rite Aid and CVS located more than one-and-onehalf miles away from the site), this Walgreens services the surrounded immediate community almost exclusively. With its proximity to the WalMart, it also serves as destination retail for the outlying parishes, making this passive investment highly attractive for a long term hold.

Additional Info

  • Address: : Plank Road & Groom Road Baker, LA 70714
  • Price: : 6,431,734
  • Net Rentable Area: : 13,650
  • Lot Size (Acres): : 1.51
  • CAP Rate: : 5.14%
  • Price Per Sqft: : $461.83
  • NOI: : $331,000
  • Year Built: : 2014
  • Status: : Available