For Sale
$1,087,000

506 Main StCankton, LA 70584

High-yield retail investment, strong tenant.

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 8,320-square-foot retail property located at 506 Main St, Cankton, LA 70584, featuring a Dollar Tree store under a triple-net (NNN) lease. The property boasts a 6.25% cap rate and a substantial net operating income (NOI) of $67,946. Built in 2016, this single-tenant building sits on a 0.97-acre lot and enjoys 100% occupancy. The lease, commencing April 6, 2016, has a remaining term of 6.9 years, extending to September 29, 2031. The lease includes significant rent bumps of 10% in year 11 and at each option renewal. The tenant, Dollar Tree, Inc., is a Fortune 200 company with a strong credit rating (BBB/Stable from Standard & Poors) and a substantial annual revenue. This investment offers a secure, long-term lease with a financially stable corporate guarantor, making it an attractive addition to any portfolio. The property's price per square foot is $130.65, and the lease includes six, five-year renewal options. This is a rare opportunity to acquire a high-performing, well-located retail asset with a proven track record. The property is situated in St. Landry Parish, Louisiana.

Highlights

  • 10% rent increase in Year 11 and each option period.
  • Six, five-year renewal options available.
  • Tenant is Dollar Tree, headquartered in Chesapeake, VA.
  • Tenant operates over 16,000 locations (Dollar Tree and Family Dollar).
  • Tenant's annual revenue exceeds $26.31 billion (Dollar Tree and Family Dollar combined).
  • Dollar Tree, Inc. has a BBB/Stable credit rating.

Property Details for 506 Main St

Property type
Lifestyle centers, Power centers
Square Feet
8,320 SF
Year Built
2016
Lot Size (sq. ft)
42,253 SF

Location Insight

City
Cankton
County
St Landry Parish
State
Louisiana
Latitude
30.3436008
Longitude
-92.1090133
506 Main St, Cankton, Louisiana

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Contacts

Robby Pfeiffer
Robby Pfeiffer
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506 Main St, Cankton, Louisiana, 70584

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

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506 Main St
  • Robby Pfeiffer
    Robby Pfeiffer
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