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Home Depot 2625 Veterans Memorial Blvd 174,552 SF Retail Building Kenner, LA 70062 $58,333,333 ($334.19/SF) 6% Cap Rate
Investment Highlights
- Long Term Tenant
- Irreplaceable Retail Location
- Zero Management Responsibilities
- Attractive Rent Increases
- Investment Grade Credit
- High Traffic Counts
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a corporate Home Depot ground lease located at 2625 Veterans Boulevard in Kenner, Louisiana (the “Property”), a suburb of New Orleans. The Property is improved by a free standing 174,522 square foot building on a 12.94-acre parcel. The Home Depot has been at this location since it was constructed and has over 6 years of term remaining with ten (10), 5-year renewal options. The Home Depot lease provides for attractive 5% rent increases at the start of each option period. The Property occupies a strong location at the intersection of Roosevelt Boulevard and Veterans Boulevard, a major commercial and commuter corridor in the market. Home Depot is situated adjacent to Walmart Supercenter and is surrounded by a concentration of national retailers and restaurants that generate significant consumer traffic. The site offers convenient access to Interstate 10, Interstate 310, and U.S. Route 61, providing efficient connectivity to Downtown New Orleans and the broader southern Louisiana region. The Property is three miles from Louis Armstrong New Orleans International Airport and 10 miles west of New Orleans’ Central Business District, further enhancing its accessibility and regional draw.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
174,552 SF
Building Class
C
Year Built
2012
Price
$58,333,333
Price Per SF
$334.19
Cap Rate
6%
NOI
$3,500,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
12.94 AC
Zoning
CR - Commercial Retail
Frontage
512’ on Veterans Blvd
Amenities
- Dedicated Turn Lane
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $24.47
- Triple Net
- May 2032
The Home Depot began in 1978 as a home improvement retailer and became a public company in 1981. The Home Depot now serves customers through stores and online, with a broad assortment that includes home improvement products, building materials, lawn and garden items, décor, and facilities maintenance supplies. The business also supports installation, repair, and other services tied to home projects, while maintaining a significant presence across North America. The company has also built a substantial digital channel alongside its physical retail network.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $24.47 | Triple Net | May 2032 |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 3923044820 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,759,010 |
Property Taxes
Parcel Number
3923044820
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,759,010
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