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DOM: 188 Updated: 01.25.24 Posted: 06.14.23 Status: Sold 12.19.23

Summary

Price $1,986,207
Built/Renov 2004
Tenant Fast Stop
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,670
Lease Start 04-03-2023
#Units 23
Price/SF $425.31
Expiration 07-03-2043
Tenant Type Convenience/Gas
NOI $144,000
R. Term 18.1
Ownership Fee Simple
Rent/SF $30.84
Increases 2.0%/1/yrs
Pop 5Mi 149,594
Lot/AC 0.68
Options 4/5yrs/2%
AHHI 5Mi $66,383

Lease Highlights

  • Fast Stop recently signed a brand new 20-year lease with 4 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and during each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Fast Stop

Location Description

This 4,670 square foot Fast Stop is situated on .68 acres along Florida Boulevard with access to 21,807 vehicles per day. The site is equipped with 4 fueling stations with 8 pumps as well as a convenience store onsite. The location is within a dense retail corridor with many local businesses and residential neighborhoods. The 5-mile trade area is supported by over 149,500 residents earning an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Fast Stop
  • Guarantor:Corporate
  • Company:Fast Stop
  • # Units:23
  • Stock:Private

About Tenant

Founded in 2015, Fast Stop is a privately held chain of gas stations and convenience stores throughout Louisiana. Fast Stop is not just a gas and fuel company, as they also have their own brand of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,188 68,381 149,248
2023 Total Population : 9,065 68,662 148,993
2023 Employed Civilian Pop : 4,633 30,893 68,426
2023 Total Businesses : 1,925 4,927 9,938
2023 Average Household Income : $ 57,187 $ 64,954 $ 70,670
2023 Total Consumer Spending : $ 228 M $ 1536 M $ 3859 M
2023 Median Age : 37 31 31
2023 Total Households : 4,527 26,880 62,147
2023 Pop Age 25+: Bachelor's Degree : 1,312 7,850 18,476
2023 Average Home Value : $ 258,765 $ 258,071 $ 302,334
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 61 Business;US 19 N 15th St 2021 12,208 0.08 mi
Florida Blvd N 12th St 2011 16,592 0.10 mi
US0061-X N 12th St 2020 11,272 0.10 mi
North Boulevard S 14th St 2021 6,050 0.17 mi
North Boulevard S 11th St 2021 4,907 0.21 mi
North 10th Street Convention St 2021 4,085 0.27 mi
US 61 Business;US 19 I- 110 2021 3,692 0.27 mi
South 10th Street North Blvd 2021 5,911 0.29 mi
I- 110 Convention St 2020 996 0.32 mi
North 9th Street North Blvd 2021 3,747 0.32 mi

Listing Broker

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