Cap Rate: 6.50%
Net Operating Income: $108,000
This is an absolute net leased C-Store offering in Baton Rouge, LA. This BP Petroleum branded station has a new 20 year absolute NNN lease and calls for 1.75% annual increases in rent. The lease is corporately guaranteed by a leading 462-unit operator.
Baton Rouge is the capital city of the U.S. state of Louisiana. On the eastern bank of the Mississippi River, it is the parish seat of East Baton Rouge Parish, the most-populous parish in Louisiana. Since 2019, the city of Baton Rouge has been the 100th-most-populous city in the United States, and second-largest city in Louisiana after New Orleans. It is also the 16th-most-populous state capital. As of the U.S. Census Bureau’s July 2019 estimate, Baton Rouge had a population of 220,236, down from 229,493 at the 2010 U.S. census. The city of Baton Rouge is the center of the Greater Baton Rouge area, the second-largest metropolitan area in Louisiana, with a population of 834,159 as of 2017, up from 802,484 in 2010 and 829,719 in 2015.