West Willow Grocery-Anchored Shopping Center — Sale in Lafayette, LA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Lafayette, LA 70501
  • Year built: 1998

Photos

West Willow Grocery-Anchored Shopping Center — Sale in Lafayette, LA, photo 1 of 4
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West Willow Grocery-Anchored Shopping Center — Sale in Lafayette, LA, photo 4 of 4

Investment Figures

Cap rate
6.83%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively list for sale West Willow Grocery-Anchored Shopping Center, a grocery-anchored retail center with 100,264 square feet of leasable area, located at 215 West Willow Street in Lafayette, Louisiana. West Willow Shopping Center is located at the southwest corner of West Willow Street and Evangeline Thruway, seeing approximately 75,000 vehicles per day. This intersection is an important retail hub in its submarket, evidenced by the property’s anchor tenant, Super 1 Foods, which ranks in the top 89 percent of foot traffic for locations nationwide, according to Placer AI. The subject property’s co-anchor, dd’s Discounts, ranks in the top 75 percent of locations in Louisiana for foot traffic, according to Placer AI. West Willow Shopping Center is offered at a price of $4,200,000 ($41.89 per square foot), which represents an 6.83 percent day one cap rate at 88 percent occupancy. An investor could add value by leasing the vacant space, which would result in a pro forma cap rate of 10.61 percent. Investment Highlights: • Super 1 Foods is a Top Performing Location Nationwide: • Tenant Boasts an Extremely Healthy Rent-to-Sales Ratio of 0.64 Percent. • Top 11 Percent Performer, Per Placer AI • Super 1 Foods is Committed to This Proven Location: • Tenant Since 1998 • Tenant Completed Renovation of Approximately $7 Million in 2023. • Significant Value Add Potential: Leasing the vacant space results in pro forma cap rate of 10.61 percent. • Priced Significantly Below Replacement Cost: $42/SF • Property is 84 Percent Occupied by Credit Tenants: Super 1 Foods and dd's Discounts • Located at the Southwest Corner of West Willow Street and Evangeline Thruway: Approximately 75,000 Vehicles Per Day

Market Context

This retail in Lafayette, LA is listed for sale. It is offered at an approximate 6.8% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1998. Compare it against other retail listings for sale in Lafayette, LA — view the full market.

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