Cap Rate: 5.50%
Net Operating Income: $60,000
Square Footage: 2,419
This is an absolute net leased C-Store offering in Rayne, LA. This Shell 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.
Rayne is a city in the U.S. state of Louisiana, in Acadia Parish. With a population of 7,326 at the 2020 United States census, it is nicknamed the “Frog Capital of the World”, as well as the “Louisiana City of Murals”. Rayne is part of the Crowley micropolitan statistical area, and within the Lafayette metropolitan statistical area in Acadiana.