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Algiers Plaza Shopping Center

$36,750,000

4100 General De Gaulle Dr., New Orleans, LA 70131

Active
Last Updated: 01/11/2023

227,814 sqft

Building Size

23.56 acres

Lot Area

Details:
Building Size:    227,814 sqft
Lot Area:    23.56 acres
Occupancy:    99%
Year Built:    1973
Highlights:
  • Grocery & Drug Anchored Shopping Center Investment with Approx. 75% of the Income Stream through National Tenants
  • Potential Break-Up Strategy As the Entire Shopping Center Is On One Parcel
  • Located On the Core Retail Corridor with Excellent Visibility | +50,000 VPD
  • Chick-Fil-A Is Currently Under Construction with an Opening Date Projected In 2023
  • Regional Daily Needs Shopping Center
  • High Yield (7%) In-Place Investment with Future Upside | Projected Double-Digit Cash on Cash Return Of 8.85% by Year 3
  • Algiers Plaza Is Below Replacement Cost | $161 PSF
  • Recent Renovations Completed In the Last 10 Years
  • Infill New Orleans Demographics | 5 – Mile: Estimated Population 235,188 /
  • AHHI $72,684 / Daytime Population 138,898
Description:

Faris Lee Investment is pleased to announce the opportunity to acquire a grocery and drug anchored shopping center in New Orleans, LA

The shopping center is located on the core retail corridor with excellent visibility | +50,000 VPD infill New Orleans, LA

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