Plaza 28

Price: $3,890,000
Sq. Ft.: 36,098
Cap Rate: 9.72%
Built: 1994

Marcus & Millichap is pleased to present the opportunity to acquire a Walmart shadow-anchored, multi-tenant retail center located in Alexandria, Louisiana. The total square footage of the building is 42,084 square feet, of which 36,138 square feet is leasable area.  The remaining 5,946 square feet is designated common areas, such as hallways and public restrooms. Storefronts and building entrances are located on all sides of the building.  Plaza 28 is currently 100 percent leased with gross leases, providing significant upside potential by converting leases to triple-net. The tenant base is a complementary mix of internet-resistant and service-oriented businesses, including Anytime Fitness, Sport Clips, Happy Nails, Studio 28 Salon, Steps by Stephanie Dance Studio, Light of Mine Playhouse Cafe, Office of Senator John Kennedy, Specialty Infusions, CHRISTUS Health Central, Goodwill Industries, Sunflower Van Geaux Art and Louisiana Home Care. The building was constructed in 1994 and is situated on 4.5 acres with paved parking on all sides of the building.

Plaza 28 is located near the signalized intersection of Coliseum Boulevard/Leesville Highway and Cloverleaf Boulevard. Coliseum Boulevard is one of the city’s major east/west thoroughfares and has traffic counts of approximately 52,196 vehicles per day. The subject property is shadow-anchored by Walmart Supercenter and located near many other retailers, including Panda Express, Sonic Drive-In, Subway, Whataburger, AutoZone Auto Parts, Golden Corral Buffet & Grill, Starbucks, Raising Cane’s, Chick-fil-A, Texas Roadhouse, Petco, Kroger, and more. The average household income is $76,018 within a one-mile radius; $75,261 within a three-mile radius; and $64,284 within a five-mile radius.

  • Walmart Shadow-Anchored, Multi-Tenant Retail Center
  • Total Building Size is 42,084 Square Feet | 36,138 Square Feet is Leasable Area | 5,946 Square Feet is Designated Common Areas (Hallways and Restrooms)
  • 100% Leased | All Gross Leases | Significant Upside Potential by Converting All Leases to Triple-Net Leases
  • Tenant Base is a Complementary Mix of Internet-Resistant and Service-Oriented Businesses
  • 38% of the Gross Leasable Area is Leased to Medical Tenants
  • Majority of the Leases have Personal Guarantees
  • Building Features Storefronts, Building Entrances and Parking Spaces on All Sides | Situated on 4.5 Acres  | Large Pylon Signage at the Entrance Provides Additional Exposure to the Center
  • Priced at $108 per Square Foot | Well Below Replacement Cost
  • Located on Coliseum Boulevard (Leesville Highway), One of the City’s Major East/West Thoroughfares | Cumulative Traffic Counts are Approximately 52,196 Vehicles Per Day
  • Close Proximity to Numerous National and Regional Retailers
  • Average Household Income is $76,018 within One Mile; $75,261 within Three Miles; $64,284 within Five Miles
  • Alexandria is the Ninth-Largest City in Louisiana | Parish Seat of Rapides Parish