10251 Prejean Highway, Opelousas, LA
CAP RATE: 7.50%
NET OPERATING INCOME: $82,476
LOT SIZE: 1.00 AC
YEAR BUILT: 2014
The Kase Group is pleased to offer the opportunity to acquire the 100% fee simple interest in an absolute NNN Family Dollar lease. This 8,320 square foot Family Dollar, in Opelousas, Louisiana has eight years remaining on the initial term. The 100% fee simple interest in the underlying land and building is being offered. The tenant has four five-year options to renew with 10% increases in rent every five years.
Opelousas is a small city in and the parish seat of St. Landry Parish, Louisiana. It lies at the junction of Interstate 49 and U.S. Route 190. Opelousas is the principal city for the Opelousas-Eunice Micropolitan Statistical Area, which had an estimated population of 92,178 in 2008. Opelousas is also the 3rd largest city in the Lafayette-Acadiana Combined Statistical Area, which has a population of 537,947.
The city calls itself the spice capital of the world, with production and sale of seasonings such as Tony Chachere’s products, Targil Seasonings, Savoie’s cajun meats and products, and LouAna Cooking Oil. Opelousas was also home to one of the nation’s two Yoohoo Factories until their closing.