www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
23473501
23473500

3621 General De Gaulle Dr, New Orleans, LA 70114

RB
CA CA 01826517
Lee & Associates San Diego - Carlsbad
DO
CA CA 02049653
Lee & Associates San Diego - Carlsbad
JN
CA CA 02205115
NNN Investment Group
MG
CA CA 01359892
Lee & Associates San Diego - Carlsbad
Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group
$5,330,000
510 days on market
Updated 30 days ago

CVS - New Orleans, LA

Details
APN 5-13-6-149-06
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,013
Units 1
Cap Rate 8.50%
NOI $452,988
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Term 22.1
Lease Expiration 07/30/2031
Remaining Term 9.7
Rent Bumps Yes
Lease Options 10 - 5 Yr Options
Price per SqFt $410
Broker Co-Op Yes
Class A
Year Built 2008
Buildings 1
Acreage 2.250
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 06/25/2009
Occupancy Date 06/25/2009
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange

Retail | 8.50% CAP | 13,013 SqFt

Marketing description

We are pleased to present an exceptional investment opportunity with a well-established, fully leased property in the heart of New Orleans, Louisiana. This offering includes a prime real estate asset with 9.7 years remaining on the lease and a tenant backed by investment-grade credit, ensuring long-term stability and cash flow. The property is strategically located in a high-traffic area of New Orleans, benefiting from strong local demand and proximity to key commercial and residential areas, ensuring continued success for the tenant. This location is ideal for businesses looking for long-term stability, offering the security of an absolute NNN lease, which places all responsibility for property expenses on the tenant, making this a truly hands-off investment for the owner. With nearly 10 years of lease term remaining, this property provides a secure, reliable income stream backed by a high-quality tenant in a robust and growing market. It represents a unique opportunity for investors seeking a stable, low-risk addition to their portfolio in one of the most dynamic cities in the U.S. For more details on this investment, please contact us directly.

Investment highlights

  • CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) | Largest Pharmacy in the US | Revenues of $357.8 Billion | #6 on Fortune 500
  • Over 9.7 Years Remaining on Lease Term | Long-Term Passive Income Stream | Absolute NNN Lease
  • Central Location to Medical Centers | Proximity to Senior Living Facilities | Provides Consistent Customer Base & Drives Profitable Prescription Business
  • Real Estate Advantage | Frontage to General de Gaulle Drive (30,000 CPD) | Affluent Demographics | Minutes to Downtown New Orleans
  • Major Retail/Travel Corridor | Only 4 Miles from US Hwy 90 (60,000+ CPD) | Direct Access to Downtown New Orleans | Dense Retail Trade Area
  • Located in City of New Orleans | Economic Hub for the Gulf Coast Region | Diverse Economy | New Development in Downtown Bismarck

Listing Contacts

RB
CA CA 01826517
Lee & Associates San Diego - Carlsbad
DO
CA CA 02049653
Lee & Associates San Diego - Carlsbad
JN
CA CA 02205115
NNN Investment Group
MG
CA CA 01359892
Lee & Associates San Diego - Carlsbad
Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$452,988.00
$37,749.00/mo

Valuation Metrics

0
DSCR
8.5%
Cap Rate
8.5%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591