Lake Charles, LA - Goodman Distribution

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased Goodman Distribution investment property located in Lake Charles, Louisiana. The tenant, Goodman Distribution, Inc., has approximately 5 years remaining on its 10-year lease with 2 (7-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and FMV increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located near the signalized, hard-corner intersection of E McNeese St and State Highway 14, combining to average over 48,100 vehicles passing by daily. E McNeese St is a major retail thoroughfare serving the city of Lake Charles. The site is located in close proximity to McNeese State University, which has over 5,000 students currently enrolled. The property is also located within 2 miles of Lake Charles Power Centre, a 188,000+ square foot shopping center that includes national/credit tenants such as Old Navy, Michael’s, Bath & Body Works, and many more. Adjacent to Lake Charles Power Centre is a Walmart Supercenter, Lowe’s Home Improvement, and a Home Depot. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Academy Sports + Outdoors, TJ Maxx, Tractor Supply Co, Harbor Freight Tools, Dollar Tree, Outback Steakhouse, Raising Cane’s, Starbucks, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 98,200 with an average household income of $83,446.