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CAVA | Baton Rouge, LA 5295 Highland Rd
2,900 SF Retail Building Baton Rouge, LA 70808 $5,082,272 CAD ($1,753 CAD/SF) 5.50% Cap Rate
Investment Highlights
- Lease is corporately guaranteed by CAVA, a publicly traded company with a 300% stock increase since its June 2023 IPO.
- 15-year NNN lease with 10% rent increases every 5 years and four renewal options.
- CAVA is rapidly expanding, aiming for 1,000 units by 2032, with 72 new locations in 2023.
- The property is located 1 mile from Louisiana State University, providing access to over 37,000 students.
- Newly constructed in 2023, featuring a drive-thru and 20-year roof warranty.
- Positioned at a signalized hard corner near a dominant retail area with strong local demographics.
Executive Summary
CAVA is ideally situated and has excellent visibility at the signalized hard corner on Lee Dr (21,709 VPD), and approximately 1,000 feet from Burbank Dr (23,225 VPD). It’s strategically located adjacent to the Highland Village Shopping Center that is anchored by Walmart Neighborhood Market. Additional surrounding national retailers include The UPS Store, CVS Pharmacy, Walgreens, Raising Cane’s, Circle K and numerous local uses and tenants. The subject property is strategically positioned just 1 mile southeast of Louisiana State University, offering unparalleled convenience for the state’s largest student body, comprising over 37,000 students.
Baton Rouge, the capital city of Louisiana, is a vibrant hub situated along the Mississippi River and sits approximately 80 miles northwest of New Orleans. Known for its dynamic economy, the city hosts prominent industries including petrochemical, medical, tech, and film. The subject property is located within a strong demographic area of Baton Rouge boasting an average population of over 68,800 within 3 miles and an average population of over 145,800 within 5 miles of the site. It is also a highly affluent area with the average household incomes exceeding $90,000 in both the 3- and 5-mile radius of the property.
Property Facts
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 2,900 SF
- -
- Net
- Jan 2039
Cava's mission is to bring heart, health, and humanity to food. They believe in: serving delicious food that helps more people eat well and live well, taking care of the people and things that feed them: the earth, farmers, purveyors, and team members, and food as a unifier, for a more diverse yet inclusive world, where all are welcome. Ike Grigoropoulos, Chef Dimitri Moshovitis, and Ted Xenohristos have known each other since they were six. They were often found goofing off in their Greek church’s Sunday School class, before heading to their respective parents’ homes for a big Sunday lunch, typically full of slow-roasted lamb, lemony potatoes, lots of olives, and bowls of tzatziki. Food and hospitality was always coursing through their veins, thanks to growing up as sons of first-generation immigrants who all valued making room at the table for all their family and friends.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 2,900 SF | - | Net | Jan 2039 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00610003 | Improvements Assessment | $0 CAD |
| Land Assessment | $24,992 CAD | Total Assessment | $24,992 CAD |
PROPERTY TAXES
Presented by
CAVA | Baton Rouge, LA | 5295 Highland Rd
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