Contacts
Property Details
- Property Type Retail
- Property Size 4,576 SF
- Lot Size 2.44 SF
- Additional Rent Contact for pricing
- Year Built 2004
- Date Updated Dec 17, 2024
Colliers is pleased to offer qualified investors the opportunity to acquire a seasoned, single-tenant absolute net leased Casa Ole restaurant in the town of Sulphur in the Lake Charles, Louisiana MSA. Casa Ole has been at this location for 21 years and has five years of term remaining before the Tenant can execute their options. The lease which contains annual lease escalations of 1.5% to help protect the income stream against inflation. Investors will benefit as this lease is structured as absolute NNN, with zero Landlord responsibilities (mailbox money). The lease is guaranteed by Mexican Restaurants, Inc. MRI has a successful combined operating history of 150 years, four brands across four states, and 30+ locations.
The 4,576 SF building fronts Ruth Street, a busy four lane road, and sits on a large 2.44-acre parcel with an ample parking ratio. The subject property allows an attractive opportunity to acquire an oversized parcel which could be utilized to create arbitrage. The size of the building and the flexibility afforded due to the parcel size offers an investor great downside protection in this investment. The subject property benefits from being located within the Lake Charles MSA which has a population of 240,000 people. Sulphur benefits from its uniquely advantageous infrastructure, including I-10, Highway 90, and the Port of Lake Charles.
Reach out to the broker for more info on lease terms and amenities
Getting around
-
61/100
Walk Score ®
-
50/100
Bike Score ®
Location
- City Sulphur, LA
- Zip Code 70663
- Market Lafayette Lake Charles
Points of Interest
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Lake Charles
9.52 miles
-
Chevron
0.46 miles
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Circle K
1.03 miles
-
Conoco
1.64 miles
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Exxon
2.37 miles
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Phillips 66
3.81 miles
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Shell
5.82 miles
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Tesla Supercharger
7.78 miles
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Popeyes
0.06 miles
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McDonald's
0.08 miles
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Hollier's Cajun Kitchen
0.09 miles
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Joe"s Pizza and Pasta Itallian Restaurant
0.13 miles
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Mr. Gatti's Pizza
0.16 miles
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Tate Cove Seafood II
0.18 miles
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Wendy's
0.29 miles
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Hong Kong
0.30 miles
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Burger King
0.34 miles
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LeBleu's Landing Restaurant and Oyster Bar
0.43 miles
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Brookshire Brothers
0.09 miles
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Kroger
0.89 miles
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B & O Kitchen & Grocery
2.62 miles
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Walmart Supercenter
2.94 miles
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Market Basket
7.38 miles
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Albertsons
7.55 miles
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Ross
7.79 miles
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Marshalls
7.85 miles
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Target
7.91 miles
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Dillard's
8.93 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
