Marcus & Millichap is pleased to present the opportunity to acquire a value-add, 66,684-square-foot, multi-tenant retail center located in Minden, Louisiana. The property is currently 59 percent occupied with a mix of triple-net and gross leases, providing significant upside potential. Anchored by a top performing Dollar General, the tenant base is a complementary mix of national, regional, and local service-oriented businesses including Advance America, Minden Medical Center, H&R Block, Cricket Wireless, Home A1, Security Finance of Louisiana, Max Donuts, Smokers and Vapers, A First Name Basis, and Metro Financial Services. Originally constructed in 1985, the building is situated on 4.91 acres with paved parking and a pylon sign that provides additional exposure to the center.
Park City Shopping Center is located on Homer Road (U.S. Route 79), one of the city’s major thoroughfares. The property is easily accessible from multiple ingress and egress points. Traffic counts in front of the property exceed 10,290 vehicles per day. Nearby national and regional retailers include Brookshire’s, McDonald’s, Wendy’s, Advance Auto Parts, Ace Hardware, O’Reilly Auto Parts, Tractor Supply Co., Taco Bell, CATO, T-Mobile, Hibbett Sports, Walmart Supercenter, and many others. The average household income is $42,617 within three miles; $44,968 within five miles; and $47,747 within ten miles.
- Value-Add, 66,684-Square-Foot, Multi-Tenant Retail Center
- 59% Occupied | Mix of Triple-Net and a Gross Lease
- Significant Future Upside Potential in Leasing Vacancy and Converting Leases to Triple-Net | Pro Forma Cap Rate is 10.63%
- Anchored by Top Performing Dollar General (NYSE: DG) | Long-Term Tenant for 21+ Years | Dollar General at this Location is Ranked in the Top 95th Percentile in Louisiana and Top 94th Percentile in the Nation, Compared to Other Locations Based on Traffic (source: Placer Labs)
- Diversified Tenant Base Comprised of National, Regional, and Local Retailers and a Medical Center
- Priced at $93 Per Square Foot | Well Below Replacement Cost
- Well Positioned on Homer Road (U.S. Route 79), the Town’s Primary North-South Thoroughfare | Traffic Counts in Front of the Property are Approximately 10,290 Vehicles Per Day
- Neighboring National and Regional Retailers Include Brookshire’s, McDonald’s, Wendy’s, Advance Auto Parts, Ace Hardware, O’Reilly Auto Parts, Tractor Supply Co., Taco Bell, CATO, T-Mobile, Hibbett Sports, Walmart, and Many Others
- Minden is a Small City and the Parish Seat of Webster Parish | Located Approximately 28 Miles East of Shreveport
