3
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$525,000
Est. payment /mo
14,000 SqFt
Active
310 E Main Street Gramercy, LA 70052
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Key Details
Property Type Commercial
Sub Type Retail,Shopping Center
Listing Status Active
Purchase Type For Sale
Square Footage 14,000 sqft
Price per Sqft $37
MLS Listing ID NO2483503
Property Sub-Type Retail,Shopping Center
Property Description
Available for sale, 310 E Main Street offers a stabilized single tenant NNN investment property with strong tenancy history. The tenant, Variety Wholesalers (operating as Roses Express), has hundreds of stores nation wide and has roots at this site since 1989. Additionally, Variety Wholesalers recently announced that they will be purchasing an additional 200-400 former Big Lots stores throughout the nation. The lease was most recently extended for a new 5 year term in 2021, and tenant has no plans of relocating. The property, standing at nearly 15,000 SF, features ample off-street parking, strong street presence along Main Street, new roof c. 2022, and major renovation after Hurricane Ida to modernize and repair the building. The tenant is currently paying $38,500/year + NNN in addition to a percentage rent (which in recent years has been averaged +-$1,200/year). The site is located in Gramercy and provides one of the only shopping outlets in the area. Gramercy is located between New Orleans and Baton Rouge and sits right on the Mighty Mississippi.
Location
State LA
Zoning comm.
Building
Sewer Public Sewer
Water Public
Level or Stories 1
Others
Tax ID 123
Listed by Ben & Burka