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5855 Chef Menteur Hwy
New Orleans, LA 70126

$2,182,000 USD

Convenience Store For Sale  •  676 SF

Property Details

  • Property Type Convenience Store
  • Total Building Size 768 SF
  • Lot Size 0.52 AC
  • Building Class C
  • Year Built 2000
  • Cap Rate 7.00 %
  • Tenancy Single
  • Zoning commercial
44 Transit Score
40 Walk Score

Highlights

This Deal Features an Absolute Triple Net Lease For 12+ More Years, Placing All Responsibility on the Tenant (Zero Landlord Responsibility)
The Lease Incorporates 2% Annual Rent Escalation, Allowing the Landlord to Benefit From the Growth in Property Value
The Lease is Guaranteed Corporately By Kings Oil and a Personal Guarantee 
This Site Has Approximately 200,000 Residents Living Within a 5-Mile Radius & Benefits From a High Traffic Count of Over 35,000 VPD
Located Less Than 5-Miles From the French Quarter and Superdome Which Are Major Tourist Attractions in New Orleans
C-Store Investments Offer Increased Depreciation Expenses Providing For a Major Tax Incentive (Consult Your CPA)
Cap Rate: 7.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Kings Oil 768 SF 1/31/2037

Public Transportation

Commuter RailDriveWalkDistance
New Orleans Union Passenger Terminal (City of New Orleans - Amtrak, Crescent - Amtrak, Sunset Limited - Amtrak) 10 min - 6.8 mi
AirportDriveWalkDistance
Louis Armstrong New Orleans International 23 min - 16.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 20
Type: Surface
Included in Rent: Yes
Matt Sawyer 678-713-4959 Sands Investment Group Atlanta, LLC
Matt Sawyer 678-713-4959 Sands Investment Group Atlanta, LLC