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12150 I-10 Service Rd
New Orleans, LA 70128

$1,570,247 USD

Restaurant For Sale  •  5,141 SF

Property Details

• Property Type Restaurant
• Total Building Size 5,141 SF
• Lot Size 1.57 AC
• Building Class C
• Year Built 2002
• Cap Rate 6.05 %
• Tenancy Single

38 Transit Score

54 Walk Score

Highlights

Absolute NNN Lease – There are zero landlord responsibilities or expenses, providing 100% passive income to the landlord.

Corporate Guarantee – The lease is guaranteed by IHOP Properties, LLC.

Freeway Location – The property is strategically situated right off the I-10 freeway which sees over ±113,600 vehicles per day.

Main Retail Corridor – The property is located in one of the main retail corridors in the eastern part of New Orleans with national tenants surroundin

New Development – Plans for a 227-acre site have been approved for redevelopment at the former Six Flags in East New Orleans.

National Tenant – IHOP, a subsidiary of DineEquity, INC. is one of the largest casual dining restaurant chains in the world with over 1,750 locations.

Cap Rate:

6.05 %

Public Transportation

Airport	Drive	Walk	Distance
Louis Armstrong New Orleans International	30 min	-	21.9 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	46
Type:	Surface
Included in Rent:	Yes