5620 Cameron Street, Scott, LA 70583

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5620 Cameron Street is located in Scott, LA.

Net Leased Investment Property! Well-located Family Dollar in Scott. The store was constructed in 2002-2003 and is in excellent condition. The seller entered a lease with Family Dollar Stores on 11/21/2002, with a 10 initial term, with six (6) five (5) year options to renew. The lease is currently in the first option term, with current renat at $4,400 per month, plus 3% of the sales proceeds over $1,760,000.00. Each 5 year option has a rent increase. Store sales for the period ending 12/31/2013 were $1,625,331, so the percentage rents clause is close to kicking in. Current annual rent without the percentage rents is $52,800 annually. A copy of the lease and sales figures are attached to this listing. The lease is a triple net lease, with the tenant being responsible for property insurance and real estate taxes. The landlord has the typical responsibilities regarding the structure. The listed price is based upon an 8% return on the purchase price.