Scott Oaks Plaza

Marcus & Millichap is pleased to exclusively offer for sale Scott Oaks Shopping Center, which is located at 5505 Cameron Street, Scott, Louisiana 70583. Scott Oaks Shopping Center is a Piggly Wiggly grocery-anchored retail center, totaling 70,405 square feet of gross leasable area on six acres of land.

Scott Oaks Shopping Center is available to be purchased for $5,089,000, which is an 7.96 percent cap rate day one, and the price per square foot of the building is $72.28, which is significantly below replacement cost. A purchaser may add value by leasing vacant space, totaling 5,000 square feet (7.10 percent of the shopping center). By leasing the vacancies, the cap rate would increase to 9.92 percent.

The seller reports that the shopping center has been well-maintained, including a new roof with a 20-year manufacturer’s warranty and two-year labor warranty for a significant amount of the shopping center, further outlined in the Offering Memorandum.

Scott Oaks Shopping Center is anchored by Piggly Wiggly grocery store, whose location at this site performs in the top 20 percent of Piggy Wiggly stores across the nation and is ranked second in the State of Louisiana in terms of foot traffic. Foot traffic data provided by Placer AI is outlined in the Offering Memorandum. Its Health Ratio is very healthy with rent only ~2.5 percent of store sales.