CVS | 3754 Moss St
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CVS 3754 Moss St
10,908 SF Retail Building Lafayette, LA 70507 $3,526,000 ($323/SF) 6.45% Cap Rate
Executive Summary
Long Term Operating History: CVS has been operating at this location for 25 years and recently exercised a 15-year extension in 2018, further showing their long-term commitment to this location.
Reported Sales: The tenant reports sales at this location. Contact agent for more details.
Top MSA: Lafayette is the 3rd largest MSA in Louisiana with approximately 450,000 residents and is projected to continue to grow at a rate of roughly 4.50% over the next 5 years.
Strategic Location: The property is situated on Moss Street, a primary retail corridor in the northern part of the city, and benefits from high visibility and convenient access. The site experiences traffic counts of approximately ±20,000 vehicles per day (VPD), driving consistent customer flow and enhancing store performance. Additionally, the property is less than a mile from Interstate-10, one of the largest highways in the region which connects Baton Rouge to Houston and many other major cities.
Strong Community Synergy: The store is surrounded by several other national retailers, large apartment and housing communities, and schools, which contribute to strong foot traffic and a steady flow of customers. Neighboring tenants include Planet Fitness, Circle K, Dollar Tree, Advanced Auto Parts, and Burger King.
Passive Ownership: CVS is operating on a NNN lease, with no landlord responsibilities, offering a passive income stream.
Key Developments: The Ambassador Town Center (ATC) Lafayette, located just under ten miles from the subject property, will feature a 252-unit apartment complex with amenities such as a fitness center and clubhouse, set to begin leasing by the end of 2024. This development is expected to attract new residents, significantly boosting local traffic. Additionally, the Cypress Trails Apartments, located 2.5 miles away, will further enhance the area with its modern design and proximity to essential services. Together, these projects will elevate residential activity and economic growth, increasing the investment appeal of surrounding properties.
Corporate Guarantee: Lease is corporately guaranteed by CVS (NASDAQ: CVS).
Broker of Record
Donnie Jarreau
License No. BROK.995704351-CORP (LA)
Reported Sales: The tenant reports sales at this location. Contact agent for more details.
Top MSA: Lafayette is the 3rd largest MSA in Louisiana with approximately 450,000 residents and is projected to continue to grow at a rate of roughly 4.50% over the next 5 years.
Strategic Location: The property is situated on Moss Street, a primary retail corridor in the northern part of the city, and benefits from high visibility and convenient access. The site experiences traffic counts of approximately ±20,000 vehicles per day (VPD), driving consistent customer flow and enhancing store performance. Additionally, the property is less than a mile from Interstate-10, one of the largest highways in the region which connects Baton Rouge to Houston and many other major cities.
Strong Community Synergy: The store is surrounded by several other national retailers, large apartment and housing communities, and schools, which contribute to strong foot traffic and a steady flow of customers. Neighboring tenants include Planet Fitness, Circle K, Dollar Tree, Advanced Auto Parts, and Burger King.
Passive Ownership: CVS is operating on a NNN lease, with no landlord responsibilities, offering a passive income stream.
Key Developments: The Ambassador Town Center (ATC) Lafayette, located just under ten miles from the subject property, will feature a 252-unit apartment complex with amenities such as a fitness center and clubhouse, set to begin leasing by the end of 2024. This development is expected to attract new residents, significantly boosting local traffic. Additionally, the Cypress Trails Apartments, located 2.5 miles away, will further enhance the area with its modern design and proximity to essential services. Together, these projects will elevate residential activity and economic growth, increasing the investment appeal of surrounding properties.
Corporate Guarantee: Lease is corporately guaranteed by CVS (NASDAQ: CVS).
Broker of Record
Donnie Jarreau
License No. BROK.995704351-CORP (LA)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,908 SF
Building Class
B
Year Built
1998
Price
$3,526,000
Price Per SF
$323
Cap Rate
6.45%
NOI
$227,253
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
2.37 AC
Zoning
Commercial
Parking
62 Spaces (5.68 Spaces per 1,000 SF Leased)
Frontage
224 FT on Moss St
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 6104820 | Improvements Assessment | $151,200 |
| Land Assessment | $41,295 | Total Assessment | $192,495 |
PROPERTY TAXES
Parcel Number
6104820
Land Assessment
$41,295
Improvements Assessment
$151,200
Total Assessment
$192,495
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CVS | 3754 Moss St
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