Shoney's | 420 Westbank Expy
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Shoney's 420 Westbank Expy
5,702 SF Retail Building Gretna, LA 70053 £1,883,978 (£330/SF) 7% Net Initial Yield
Investment Highlights
- Long-Term, Absolute Triple Net (NNN) Lease
- The lease features a corporate guarantee from Shoney's North America LLC. Shoney's operates over 55 locations throughout 17 states.
- The lease will feature 10% increases every 5 years, in both the base term and tenant renewal options.
- The subject investment property is situated in an affluent community where the average household income within a five-mile radius exceeds $79,000.
Executive Summary
NNN Pro is pleased to present the exclusive listing for a Shoney's
located at 420 Westbank Expwy, Gretna, LA 70053. The site
consists of roughly 5,693 rentable square feet of building space
on an estimated 0.87-acre parcel of land. This Shoney's is subject
to a 20-year Triple Net (NNN) lease, which commenced 1/2/2007.
The current annual rent is $168,000 and has scheduled increases
of 10.00% every 5 years.
located at 420 Westbank Expwy, Gretna, LA 70053. The site
consists of roughly 5,693 rentable square feet of building space
on an estimated 0.87-acre parcel of land. This Shoney's is subject
to a 20-year Triple Net (NNN) lease, which commenced 1/2/2007.
The current annual rent is $168,000 and has scheduled increases
of 10.00% every 5 years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,702 SF
Building Class
C
Year Built
1969
Price
£1,883,978
Price Per SF
£330
Net Initial Yield
7%
NOI
£131,878
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Land Acres
0.87 AC
Zoning
R1A - Low Density Residential
Parking
55 Spaces
Frontage
123 ft on Westbank Expy
Amenities
- Bus Route
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (86)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0100002034 | Improvements Assessment | £152,456 |
| Land Assessment | £59,725 | Total Assessment | £212,181 |
PROPERTY TAXES
Parcel Number
0100002034
Land Assessment
£59,725
Improvements Assessment
£152,456
Total Assessment
£212,181
-
Power Broker Glen Kunofsky -
Ken Johnson -
NNN Pro Group
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Shoney's | 420 Westbank Expy
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