Popeyes on Burbank Sold for 5.35% Cap Rate
The November 16, 2020 issue covers seven commercial sales recorded across Baton Rouge the previous week, totaling $11.2M in disclosed volume. The headline deal: Priceco West, L.C., the Price LeBlanc auto dealership, paid $5.08M ($1.31/Land SF) for acreage off Airline Highway near Antioch Road. A New Jersey-based investor bought the net-leased Popeyes off Burbank Drive near Bluebonnet Boulevard for $3.4M, a 5.35% cap rate, and an Alabama-based company paid $1.52M for the 84-unit Elm Grove Garden Apartments near I-110 and Scotland Avenue.
Commercial Sales Recorded Last Week 7 sales
Tract B-2-C-1-A-1 Airline Hwy
$5,077,000 $1.31 / Land SF
Price LeBlanc auto dealership purchases acreage off Airline Hwy near Antioch Rd.
BuyerPriceco West, L.C.
10613 Burbank Dr
$3,399,551 $1,555 / SF
New Jersey-based investor purchases net-leased Popeyes off Burbank Dr near the Bluebonnet Blvd intersection. This represents a 5.35% cap rate.
BuyerTandem Columbus Equities, LLC
8770 Elm Grove Garden Dr
$1,517,773 $18,069 / unit
Alabama-based company purchases 84-unit Elm Grove Garden Apartments near the I-110 and Scotland Ave intersection.
BuyerTBF Development, LLC
7246 Perkins Rd
$425,000 $15.49 / Land SF
Local real estate broker purchases vacant land behind former Shrimp Basket, adjacent to the Perkins Rd Recreation Center/Velodrome Skate Park.
BuyerP-4, L.L.C.
4320 Jeffrey Dr
$360,000 $55 / SF
Local Geaux Clean Express Car Wash company purchases office/warehouse off Airline Hwy near Coursey Blvd.
BuyerComplete Car Wash Systems, LLC
Lot S-2 Coursey Blvd
$204,671 $5.75 / Land SF
Hammond-based investor purchases 0.82-acre vacant parcel off Coursey Blvd. This property is connected to the vacant land purchased by Kumar LLC last month.
BuyerKumar LLC
8388 S Choctaw Dr
$200,000 $12 / SF
Local investor purchases warehouse off S Choctaw Dr.
BuyerSBC Investments, LLC
Upcoming Planning Commission Cases 1 case
Revised Concept Plan for the Greens at Millerville
Revise permissible uses in Areas A, B, C, and D to include multi-family residential, and an indoor shooting range with an educational center and club, on property located on the west side of Millerville Road and north of Interstate 12, on Parcels 1-A; 2; 3-A, B, C, and D; 5 and 6 of the Greens at Millerville Subdivision.
Commercial Permits Issued Last Week 57 permits
| Address | Type | Value | Description | Owner / Applicant / Contractor |
|---|---|---|---|---|
| 1255 W MOUNT PLEASANT RD ZACHARY LA 70791 | Demolition | N/A | A demolition to the top floor slab of former papermaking additive plant | O — |
| 7517 VICE-PRESIDENT DR BATON ROUGE LA 70817 | Electrical | N/A | Change out panel per inspection report and bring to code | O Daniel Midyett |
| 4512 EARL GROS AVE BATON ROUGE LA 70820 | Occupancy | N/A | New owner of existing 4-plex with house meter and security lights. electric only. | O Henry Beard |
| 3457 NORTH ST BATON ROUGE LA 70802 | Demolition | N/A | A demolition to a 2 story building | O Lonnie Dixon |
| 7710 FLORIDA BLVD BATON ROUGE LA 70806 | Electrical | N/A | 100 AMP SERVICE AND 3 CIRCUITS FOR LIGHTING | O AHMAD KAYED |
| 5160 CORPORATE BLVD BATON ROUGE LA 70808 | Electrical | N/A | Replace all lighting with Led style lights in retail store | O Jason Van Halen |
| 5315 LANIER DR BATON ROUGE LA 70812 | Electrical | N/A | Change out receptacles | O Micheal Hilton |
| 3457 NORTH ST BATON ROUGE LA 70802 | Demolition | N/A | A demolition to a 2 story building | O Lonnie Dixon |
| 12204 FAIRCREST AVE BATON ROUGE LA 70816 | Solar | N/A | Solar installation 8.16kw on existing roof | O Marc Jones |
| 2041 S Brightside View Dr Baton Rouge LA | Electrical | N/A | Change out 6 pack meter center. Entergy will disconnect power 11/17/20. Will need to do work and restore power same day. Thank you! Brian J. Biggers | O — |
| 5829 McCann dr Baton Rouge LA 70809 | Electrical | N/A | Trailer pole to be set in a lay down yard. Equipment has been stolen 2 times from the property. Pole will be set to run camera systems to watch over the property | O Kyle Cox |
| 2339 ASPENWOOD DR BATON ROUGE LA 70816 | Electrical | N/A | Correct wiring replace undeground riser pipe | O Howard Hughes, Jr. |
| 1818 OAK VILLA BLVD BATON ROUGE LA 70815 | Occupancy: Clean | N/A | Clean and show for warehouse building. | O Brad Gore |
| 804 O’NEAL LN Baton Rouge LA 70816 | Occupancy | N/A | Massage therapy/spa. | O Ting Song |
| 10557 BLUEBONNET BLVD BATON ROUGE LA 70810 | Commercial: Addition | N/A | Adding a 1976 sq ft dome shade over existing HOA playground | O Kate Cook |
| 4675 INNISWOLD RD BATON ROUGE LA 70809 | Plumbing | N/A | Inspect a water heater. | O Mark Hermann |
| 7277 EXCHEQUER DR BATON ROUGE LA 70809 | Commercial: Addition | N/A | Expansion/Addition of 23,818 sf warehouse space to existing 81,655 sf warehouse/office space to create new 105,473 s.f. sprinklered S-1 use bldg. (SP-5-20) | O Mark Emonet |
| 11959 NICHOLSON DR BATON ROUGE LA 70810 | Electrical | N/A | checked out lift station | O — |
| 7089 SIEGEN LN BATON ROUGE LA 70809 | Mechanical | N/A | remove and replace two 5 ton split systems | O — |
| 9376 GREENWELL SPRINGS RD BATON ROUGE LA 70814 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 11263 FLORIDA BLVD BATON ROUGE LA 70815 | Occupancy | N/A | Insurance agency/office use. | O James |
| 5275 GOVERNMENT ST BATON ROUGE LA 70806 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 3535 STE 200 PERKINS RD BATON ROUGE LA 70808 | Occupancy: Clean | N/A | Clean and show for mercantile space. | O Jenny Ledel |
| 2137 STARING LN BATON ROUGE LA 70808 | Occupancy | N/A | Existing Popeye's Restaurant | O Zach Fetcko |
| 5946 AIRLINE HWY BATON ROUGE LA 70805 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 5120 JONES CREEK RD BATON ROUGE LA 70817 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 1930 O'NEAL LN BATON ROUGE LA 70816 | Occupancy | N/A | Existing Popeye's Restaurant | O Zach Fetcko |
| 3033 STE A PERKINS RD BATON ROUGE LA 70808 | Occupancy | N/A | Retail store. | O Nathan Lott |
| 3777 CHOCTAW DR BATON ROUGE LA 70805 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 9135 Florida Blvd Baton Rouge LA 70815 | Demolition | N/A | A demolition to an existing cellular tower | O — |
| 4320 JEFFREY DR BATON ROUGE LA 70816 | Occupancy | N/A | Car wash equipment supplier. | O Stuart Carter |
| 4105 PERKINS RD BATON ROUGE LA 70808 | Commercial: Remodel | N/A | Interior renovation of existing 180 s.f. area for food service preparation within existing convenience store, continued Mercantile use. | O DAVID SCHUMAKER |
| 11959 NICHOLSON DR BATON ROUGE LA 70810 | Occupancy | N/A | New owner of existing apartment building. | O — |
| 2688 N ARDENWOOD DR BATON ROUGE LA 70805 | Occupancy | N/A | Existing business (new name) in warehouse – gas and electric. | O Rene Weaver |
| 18281 HIGHLAND RD BATON ROUGE LA 70810 | Occupancy | N/A | Existing Popeyes Restaurant. | O Zach Fetcko |
| 2245 GLENDALE AVE BATON ROUGE LA 70808 | Electrical | N/A | Changing service to 200amps to accommodate new electric heat | O Amanda Talbot |
| 11552 CEDAR PARK AVE BATON ROUGE LA 70809 | Occupancy | N/A | One stylist hair salon/storage warehouse. | O Cheryl Fondino |
| 10652 ALCO AVE BATON ROUGE LA 70816 | Occupancy | N/A | Office / Warehouse for household moving company. | O Mark Breaux |
| 16216 MAGNOLIA TRACE PKWY BATON ROUGE LA 70817 | Fence | N/A | Wooden Fence | O Mark Johnson |
| 3579 VICTORIA DR BATON ROUGE LA 70805 | Occupancy | N/A | existing trailer | O Lorenzo Herrera |
| 10613 BURBANK DR BATON ROUGE LA 70810 | Occupancy | N/A | Existing Popeye's Restaurant. | O Zach Fetcko |
| 4021 W E. HECK CT BATON ROUGE LA 70816 | Commercial: New | N/A | New construction of Bldg. D of 3,684 s.f. for Business office use, to have 4 suites: D-1 (893 s.f.), D-2 (917 s.f.), D-3 (917 s.f.) and D-4 (893 s.f.). | O — |
| 4750 EARL GROS AVE BATON ROUGE LA 70820 | Occupancy | N/A | House meter/electrical only. | O Ezetta Saulny |
| 965 N 18TH ST Baton Rouge LA 70802 | Occupancy | N/A | Job trailer, Drop-tank. | O — |
| 938 W GARFIELD ST BATON ROUGE LA 70802 | Demolition | N/A | Demolition of a metal storage shed approximate 12 x 12 | O Robert & Shirley Jones |
| 12524 STE G JEFFERSON HWY BATON ROUGE LA 70816 | Commercial: Remodel | N/A | Remodel to build out 1200s.f. tenant space, Suite G for tea nutrition shop. | O Dawn Colon |
| 411 BEN HUR RD BATON ROUGE LA 70820 | Commercial: Remodel | N/A | (Expedited) Interior Tenant Buildout for Cheba Hut restaurant in an existing 2,300 SF tenant space. The new occupant is a toasted/warming sandwhich restaurant with no greasy waste. The project consists of a new bar, new outdoor seating, renovated dining area, renovated cook line/kitchen, renovated dishwashing and storage area, and renovated restrooms. | O Tommy Wiggins |
| 2211 Beaumont Dr Baton Rouge LA | Occupancy: Clean | N/A | Clean and show. | O Andy McCall |
| 16169 PERKINS RD BATON ROUGE LA 70810 | Commercial: New | N/A | New construction of a 2992 SQFT, V-B Business Occupancy building to house BREW Agency, located in the Perkins Road Business Park. Parking Lot Permit 85178. | O Marie Powell |
| 7141 CALUMET ST BATON ROUGE LA 70805 | Electrical | N/A | meter box change out (4-pack) units A,B,C,D | O Theodore & Shirley Johnson |
| 23360 LIBERTY RD ZACHARY LA 70791 | Occupancy | N/A | Existing Dollar General store. | O Sarah Spicer |
| 12547 SHERBROOK AVE BATON ROUGE LA 70815 | Solar | N/A | Install 8.14 kW solar panel system on existing home – no structural changes. | O Jasma Williams |
| 23030 SUNNYSIDE LN ZACHARY LA 70791 | Electrical | N/A | Emergency disconnect/ reconnect. Tree fell on power line and pulled riser off wall | O Edith Roberie |
| 5131 GREENWELL SPRINGS RD BATON ROUGE LA 70806 | Mechanical | N/A | 80 ton Air Cooled Chiller Replacement. | O — |
| 9433 N PARKVIEW DR BATON ROUGE LA 70815 | Electrical | N/A | storm damage to home. need to rebuild the service. | O patrick kahn |
| 411 N 48TH ST BATON ROUGE LA 70806 | Occupancy: Clean | N/A | Clean and show. | O Andy McCall |
| 5555 STE A ESSEN LN BATON ROUGE LA 70809 | Occupancy | N/A | New owner of existing insurance agency – Allstate. | O Mike Stone |