magraham, Author at Mike Graham Real Estate

April 11, 2019April 11, 2019

Sold: Office on Oliver Road in Monroe, LA

Sold: 2309 Oliver Road, Monroe, Louisiana

Sale Date: March 12, 2019

Price: $875,000

Seller: John Clyde Morris III

Buyer: CA3 Properties, LLC

Land Size: 1.39 acres (OP Assessor)

Sources: Ouachita Parish Assessor’s website, Legal Recorder, Conveyance Record

Disclaimer: The above information is for reference only and should not be relied upon without proper verification

March 7, 2019March 7, 2019

SOLD: Super 8 Motel at Glenwood Dr. & I-20 in West Monroe, LA

Note: A previous blog post indicated a transfer of both the motel and the neighboring restaurant. This transfer includes the motel only.

Sold: 1101 Glenwood Drive in West Monroe, LA

Sale Date: March 4, 2019

Price: $2,250,000

Seller: Sanchez-4, LLC

Buyer: Sai Krupa Lodging, LLC

Land Size: 2.109 acres

Sources: Ouachita Parish Assessor’s website, Legal Recorder, Conveyance Record

Disclaimer: The above information is for reference only and should not be relied upon without proper verification.

February 27, 2019February 27, 2019

SOLD: Hixson Automotive Dealership at 6300 Frontage Road in Monroe, LA

Sold: 6300 Frontage Road in Monroe, Louisiana

Sale Date: February 22, 2019

Price: $10,500,000

Seller: Hixson Automotive Group, L.L.C.

Buyer: Flick Properties, L.L.C.

Land Size: 24.87 acres (Conveyance Record)

Sources: Ouachita Parish Assessor’s website, Legal Recorder, Conveyance Record

Disclaimer: The above information is for reference only and should not be relied upon without proper verification.

February 21, 2019February 21, 2019

SOLD: Vision Center at 19th & Glenmar Ave. in Monroe, LA

Sold: 1310 N. 19th Street in Monroe, Louisiana

Sale Date: February 13, 2019

Price: $730,000

Seller: John C. Cooksey et al

Buyer: Tupelo Development, L.L.C.

Land Size: 0.765 acres (OP Assessor)

Sources: Ouachita Parish Assessor’s website, Legal Recorder, Conveyance Record

Disclaimer: The above information is for reference only and should not be relied upon without proper verification.

December 17, 2018December 17, 2018

Sold: Sherwin Williams / Ruston, LA

Sold: 1502 Farmerville Highway, Ruston, LA (Sherwin Williams Paint Store)

Ruston Enterprises, LLC to Direct Business Center, LLC

Date: 12/7/2018

Price: $1,000,000

Note: For reference only: This information should not be relied upon without further verification.

December 14, 2018December 14, 2018

Sold: 2113 Farmerville Hwy., Ruston, LA (Texaco / Arby’s)

Sold: 12/10/2018 (Convenience store / restaurant)

Ruston Petro Partners, LLC to Vikram Vijay, LLC

Price: $2,519,500

Southwest corner of Highway 33 and Kentucky Avenue.

Source: Lincoln Parish COC, Assessor Website

December 11, 2018December 11, 2018

Transfer: Dairy Queen, 1600 Highway 165 North, Monroe, LA

Sold: 1600 Sterlington Road, Monroe, LA (Dairy Queen Restaurant)

Date: 12/7/2018

Price: $1,774,000

Seller: Frauenshuh Hospitality Group of AL LLC

Buyer: USVP Commercial NNN LLC

Note: This is thought to be a NNN lease transfer from the operator to an investment LLC. Frauenshuh Hospitality Group, dba Fourteen Foods, is an owner / operator of over 200 DQ restaurants. All information is for reference only and should not be relied upon without further verification.

Update: Per Loopnet – DQ Grill & Chill has a brand new 20-year Absolute NNN lease with 8% rental escalations every 5 years with three 5-year renewal options. The tenant, Frauenshuh Hospitality Group KY/IN, LLC (a subsidiary of Fourteen Foods – largest Dairy Queen Franchisee in the U.S. with 216 locations in 13 states) has 110 DQ locations backing the performance of the lease. The unit level performance of this asset is well above the DQ national average with an attractive 7.25% rent-to-sales ratio, helping to ensure long term profitability at this location.

Size: 3,283 SF (2015 construction)