$4,855,000

975 N. Hwy 190 Service RoadCovington, LA 70433Status: Active

Overview
Location
Features

This is a build to suit 14,000 square foot facility on a 2 acre site on Hwy 190 Service Road .2 miles south of I-12. The lease is with PetSuites of America and is guaranteed by National Veterinary Associates (NVA, Inc.). The lease is an absolute Net, Net, Net lease with a primary term of 20 years with five - 5 year options to renew. The initial rental is $332,598.96 per year. The asking price is a 6.85% cap rate of the first year rent. The rent increases every 5 years by the increase in CPI capped at 12%. The building completion and rent commencement are expected to be in June 2018. The property is well situated and highly visible in a high demographic market.

Catylist ID30171656
Listing typeCommercial
Property subtypeFree-Standing Building
StatusActive
List price$4,855,000
ConditionEXCELLENT
Open house details
Full address975 N. Hwy 190 Service Road Covington LA 70433
ParishSaint Tammany
Car storageSurface

Additional Info

Listing Courtesy Of Talbot Realty
Attachment975 Hwy 190 PetSuites Brochure
Attachment975 Hwy 190 Plans
AttachmentPetSuites Building Elevation