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2-Tenant Retail | Chipotle NNN 3810 LA-22 4,700 SF 47% Leased Retail Building Mandeville, LA 70471 $3,050,000 ($648.94/SF) 7.10% Cap Rate
Investment Highlights
- 47% Leased, 2-Tenant Retail | NNN Leases | Rental Increases in Option Periods | Established Brands
- Outparcel to Grocery Anchored Center | Dense Retail Corridor | Strong National/Credit Tenant Presence
- Strategically Located Along LA-22 (28,500 VPD) | Excellent Visibility & Access | Large Pylon Sign
- Direct Consumer Base | Affluent Community | New Orleans MSA | Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership), in a 47% leased, 2-tenant, freestanding building in Mandeville, Louisiana (New Orleans MSA). The current tenant, Chipotle, has over 3 years remaining on their current lease terms, and options to extend with rental increases, growing NOI and hedging against inflation (see page 18 for details). Chipotle Mexican Grill is a publicly-traded (NYSE: CMG) Fortune 500 Company with approximately 3,800 locations. The offering features a value-add opportunity for a future owner to lease-up the vacancy.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,700 SF
Year Built
2008
Price
$3,050,000
Price Per SF
$648.94
Cap Rate
7.10%
NOI
$216,400
Percent Leased
47%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
0.60 AC
Zoning
B2 - Highway Business District
Parking
35 Spaces (7.45 Spaces per 1,000 SF Leased)
Amenities
- Freeway Visibility
- Restaurant
- Signage
- Monument Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 57417 | Improvements Assessment | $76,422 |
| Land Assessment | $0 | Total Assessment | $76,422 |
Property Taxes
Parcel Number
57417
Land Assessment
$0
Improvements Assessment
$76,422
Total Assessment
$76,422
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2-Tenant Retail | Chipotle NNN | 3810 LA-22
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