Oak Grove Plaza
$2,850,000
17188 Airline Hwy, Prairieville, LA 70769
Cap Rate
7.18%/9.90%
Square Feet
17741
Year Built/Renovated
2000
INVESTMENT HIGHLIGHTS
• Prime Location on Airline Highway: Strategically located just on one of the area’s major thoroughfares, the property sees over 51,000 vehicles per day.
• Significant Value-Add Opportunity: Potential through leasing up vacancies, as current occupancy is at 78 percent.
• Fast Growing Suburb: Prairieville is one of Baton Rouge’s fastest growing areas and has experienced strong residential growth, top-rated schools, and low crime rates.
• Main Retail Corridor: Positioned in a heavily trafficked area near national retailers, including McDonald’s, Walmart, Aldi, and CVS.
• Residential Development Underway: A massive luxury 21-home community is being built to the south of the subject property, while a subdivision of more than 130 homes is being built to the east.
• Affluent Demographics: Within a 3-mile radius, the average household income is $142,395, and the population within a 5-mile radius totals 82,838, providing a strong customer base.
PROPERTY DESCRIPTION
Marcus & Millichap is pleased to exclusively offer for sale Oak Grove Plaza, a 17,741-square-foot shopping center located on one of the greater Baton Rouge area’s major thoroughfares.
Prairieville is one of Baton Rouge’s fastest growing suburbs, with massive luxury home communities and subdivisions under construction in the area. Within a 3-mile radius, the average household income is $142,395, providing a strong customer base. Also, the subject property is positioned in a heavily trafficked area near Walmart and Aldi, seeing over 51,000 vehicles per day.
With an occupancy of 78 percent, this property offers significant upside potential through leasing up vacancies.
Cole Voyles
ASSOCIATE INVESTMENTS
713-452-4352
Gus N. Lagos
SENIOR MANAGING DIRECTOR INVESTMENTS
713-452-4257
Alex Wolansky, CCIM
MANAGING DIRECTOR INVESTMENTS
