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Convenience Store | New Orleans, LA

$2,015,171

5855 Chef Menteur Hwy, New Orleans, LA 70816

Active
Last Updated: 01/04/2021

7

Cap Rate

141,062

NOI

Details:
Cap Rate:    7%
NOI:    $141,062
Building Size:    676 sqft
Lot Area:    0.52 acres
Lease Type:    Absolute Net
Year Built:    1960
Year Last Renovated:    1996
Highlights:
  • Brand New 17 Year Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities
  • 2% Annual Rent Increases With Four 5-Year Options
  • Established Operator of Convenience Stores in Louisiana & Texas That Currently Operates 40+ Locations
  • Strong Store Performance – 2.30x Rent Coverage
  • Excellent Visibility From Chef Menteur Hwy and Downman Road With Multiple Points of Ingress and Egress
  • Over 33,300 VPD Travel Along Chef Menteur Hwy
  • Signalized Corner Location Located in Dense Trade Area
  • Strong Demographics – Over 200,700 Residents Live Within a 5-Mile Radius
  • Close Proximity and Access to Major Thoroughfares – I-510, I-10 and U.S. Route 90
  • Located Less Than 5-Miles From the French Quarter and Superdome Which are Major Tourist Attractions in New Orleans ; More That 19 Million Visitors Travel to New Orleans Annually
  • Nearby Tenants Include: Domino's, Super 8, Rainbow, Wendy’s, Taco Bell, Walmart, Raising Cane’s, Burger King, McDonald’s, Popeyes, Dollar General and More
Description:

Sands Investment Group is Pleased to Exclusively Offer For Sale the 676 SF Convenience Store at 5855 Chef Menteur Highway in New Orleans, Louisiana. This Brand New 17 Year Absolute Triple Net Lease With Zero Landlord Responsibilities and Annual Rent Increases, Provides For a Secure Stable Income Stream.

In Cooperation With Sands Investment Group Louisiana, LLC
Lic. # BROK.0995702111-CORP

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