Shoney's | 420 Westbank Expy
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Shoney's 420 Westbank Expy
5,702 SF Retail Building Gretna, LA 70053 $2,400,000 ($421/SF) 7% Cap Rate
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
$2,400,000
Price Per SF
$421
Cap Rate
7%
NOI
$168,000
Tenancy
Single
Building Height
1 Story
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 Line
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
Walk Score ®
Very Walkable (86)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0100002034 | Improvements Assessment | $192,980 |
| Land Assessment | $75,600 | Total Assessment | $268,580 |
PROPERTY TAXES
Parcel Number
0100002034
Land Assessment
$75,600
Improvements Assessment
$192,980
Total Assessment
$268,580
-
Power Broker Glen Kunofsky -
Ken Johnson -
NNN Pro Group
1 of 3
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Shoney's | 420 Westbank Expy
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