CAP Rate: 6.00%
Net Operating Income: $139,224
Lot Size: 1.099 AC
Year Built: 2018
The Kase Group is pleased to offer the opportunity to acquire the 100% fee simple interest in a brand new absolute net leased Family Dollar with new high quality updated construction.
The 9,180 square foot Family Dollar, in New Orleans, Louisiana has a new 15-year absolute nnn lease with zero landlord obligations. The tenant has six five-year options to renew with 10% increases in rent in year 11 of the initial term and during the option periods. The property is right off of West Bank Expressway and benefits from traffic counts of 60,000 VPD. The surrounding area is a well built marketplace and there is no other developable land around the corridor.
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The population of the city was 343,829 as of the 2010 U.S. Census. The New Orleans metropolitan area (New Orleans–Metairie–Kenner Metropolitan Statistical Area) had a population of 1,167,764 in 2010 and was the 46th largest in the United States. The New Orleans–Metairie–Bogalusa Combined Statistical Area, a larger trading area, had a 2010 population of 1,452,502.
It is well known for its distinct French and Spanish Creole architecture, as well as its cross-cultural and multilingual heritage. New Orleans is also famous for its cuisine, music (particularly as the birthplace of jazz), and its annual celebrations and festivals, most notably Mardi Gras, dating to French colonial times. The city is often referred to as the “most unique” in the United States.