Retail Space For Lease @ 5905 Florida Blvd

This exceptionally well-located shopping center on the highly traveled US Hwy 190 (Florida Blvd) is 100% leased and offers an excellent opportunity for future development. The main shopping center building is fully leased to three tenants: Roses Discount Store, Furniture Gallery, and a Flea Market user. Each of these tenants occupy 30,000+ SF, and all three have signed new 5 year leases or renewed in 2020. These solid anchor tenants have business models that are especially well positioned for the current economic environment.

In addition to the anchor tenants, two outparcels are leased. The outparcel building on the corner of US Hwy 190 and Ardenwood Drive is leased to Tiger Tire Shop through 2028. Another outparcel was ground leased in 2020 to Bright Side Coffee Company for a drive-thru coffee shop concept (building set to be completed and open for business in 2021).

With stable, strong cash flows in place this great investment opportunity becomes an even better deal for a purchaser that unlocks the untapped value of the 1.5 acres of undeveloped outparcels fronting US Hwy 190/Florida Blvd and the 3.3 acres of surplus land behind the shopping center on N Ardenwood Dr.

This shopping center boasts significant traffic counts with ±46,210 vehicles passing per day along US Hwy 190, a major thoroughfare for residents and commuters traveling throughout Mid City and between Downtown and Baton Rouge’s suburbs. The center sits amidst a large employment base including its immediate neighbors, the headquarters of the Louisiana Department of Agriculture and Forestry to the West and the headquarters of the Baton Rouge Recreation and Parks Commission (BREC) to the East.

Please see the offering memorandum for more information including a financial summary.

- Cap Rate: 8.93%
- 100% Leased
- Signalized Intersection of US Hwy 190 at Ardenwood Drive
- 3 Main Big-Box Tenants Signed for ±5 Years
- Undeveloped Outparcels and Surplus Land for Future Development / Disposition This space offers accomodations for: street retail.