Listed by The Goldstein Group
$1,580,000
Family Dollar, Greater New Orleans, LA
Details
Property Type Retail
Sub Type Grocery Store
Square Footage 9,180
Net Rentable (SqFt) 9,180
Units 1
Cap Rate 8.01%
NOI $126,500
Occupancy 100%
Tenancy Single
Brand/Tenant Family Dollar
Lease Type NN
Lease Term 18
Lease Expiration 05/31/2032
Remaining Term 5.9
Rent Bumps Yes
Lease Options 5 at 6 years each
Pro-Forma Cap Rate 8.57%
Pro-Forma NOI $135,355
Price per SqFt $172
Broker Co-Op Yes
Class B
Year Built 2014
Year Renovated 2020
Buildings 1
Stories 1
Acreage 1.000
Zoning C-1
Parking Spaces 3 per 1,000 sq ft
Investment Type Net Lease
Lease Commencement 06/01/2014
Ownership Fee simple
Retail | 8.01% CAP | 9,180 SqFt
Marketing description
•Strong 8% cap rate, NN
•One of the region’s highest performing locations
•Lease on this location just renewed through June 2032, guaranteed by Family Dollar
•5 REMAINING RENEWAL OPTIONS WITH 7.5% BUMPS EACH
•172’ Frontage on Ames Blvd
•Founded in 1959, Family Dollar remains a key part of the US retail landscape, operating over 8,000 locations throughout the country, with 264 currently in Louisiana alone.
•Formerly a sister brand of Dollar General, Family Dollar is now a standalone brand under distinct ownership.
Location underwent interior renovation in 2020
Investment highlights
-Lease on this location just renewed through 2032
-Among the region's strongest performing locations
-Recent full renovation in 2020
Listing Contacts
Listed by The Goldstein Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$126,500.00
$10,541.67/mo
Valuation Metrics
0
DSCR
8.01%
Cap Rate
8.01%
ROI
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Property History
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