Cap Rate: 5.25%
Net Operating Income: $78,000
Square Footage: 2,826
This is an absolute net leased C-Store offering in Lafayette, LA. This BP 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 700-unit operator.
Lafayette is a city in southern Louisiana. Downtown, the Alexandre Mouton House, also known as the Lafayette Museum, has 1800s furnishings. The Paul and Lulu Hilliard University Art Museum features folk art, Japanese prints and mid-20th-century works by artist Henry Botkin. Southwest of town, LARC’s Acadian Village recreates 19th-century settler life, with reconstructed homes and a general store set along a bayou.