New Iberia, LA - Former Restaurant

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 5,038 SF, freestanding former restaurant located in New Iberia, Louisiana. The property is a former Ruby Tuesday, a popular family restaurant which served the city of New Iberia and its many visitors. The site is located on a C-2 (General Commercial) zoning district, providing for a wide range of potential uses. The site presents an excellent lease-up or redevelopment opportunity in a highly desirable location.

The property is conveniently located along State Highway 14, which averages 23,000 vehicles per day. The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Hobby Lobby, Advance Auto Parts, Dollar General, Family Dollar, Office Depot, Aldi, O’Reilly Auto Parts, Walgreens, McDonald’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. In addition, the subject property is located in close proximity to Iberia Middle School (495 students) and Westgate High School (959 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 41,000 residents and 23,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property have an average household income of $67,556.