800 S Clearview Pky
Harahan, LA 70123
Elmwood Oaks · Retail Property For Sale

SRS Investment Properties Group, as exclusive broker, is pleased to offer Elmwood Oaks Shopping Center - a 136,284± SF community center shadow-anchored by Walmart Supercenter and featuring Academy Sports and Dollar Tree - prominently situated along heavily travelled US-90, just west of Downtown New Orleans, LA. Elmwood Oaks is characterized by a solid base of national anchors which account for roughly 74.2% of the overall GLA. Seasoned retailers with term through 2024, both Academy and Dollar Tree have tenure dating back to 2003. Academy just renewed for five years at its contracted rent, confirming its ongoing commitment to Elmwood Oaks. The tenant roster at Elmwood Oaks has benefited from notable, recent leasing momentum via a new, 5-year lease with Lifestyle Appliance – a wholesale appliance retailer. Occupying 10,560± SF, the new tenant’s estimated commencement date is October 1, 2019. Current ownership structured a 5-year lease due to a potential, future redevelopment opportunity in regards to the 10,560± SF box, including recent grocer interest. Inquire with brokers for more details. The Offering includes a valuable Auto Zone, ground-leased outparcel with term through 2031. Separately-parceled and with ample lease term remaining, the Auto Zone outparcel provides the next iteration of ownership with the potential to take advantage of significant cap rate arbitrage in spinning out Auto Zone as a single-tenant investment opportunity. Elmwood Oaks provides investors with an opportunity to continue to add value to the Center via the lease-up of a highly visible, 4,728± SF multi-tenant outparcel availability. Situated adjacent to Auto Zone and at one of the Property’s main entrances from US-90/LA3152, it is directly accessible to 52,826 VPD in front of the Center. Location Situated directly across Jefferson Highway from Walmart Supercenter, Elmwood Oaks benefits from the shadow-anchor’s significant regional consumer draw, which includes a coveted, necessity-based shopping component and Murphy USA fuel center. Creating a retail nexus in front of the Property, at the signalized intersection of S Clearview Pkwy (US-90/LA-3152) and Jefferson Hwy (LA-48), Walmart Supercenter draws customers from upwards of 25 miles away. With very little grocer competition and no other Walmart stores within the nearby Harahan, Elmwood and Metairie communities, the Walmart Supercenter across from Elmwood Oaks dominates market share in the area. Elmwood Oaks is positioned between two dense communities on the west side of Downtown New Orleans – Harahan and Elmwood – with convenient proximity to Metairie, along the southern bank of Lake Pontchartrain. With 286,955 people within a growing 5-mile radius, a median age of 39.7, and an average household income of almost $80,000; the Property benefits from a significant amount of disposable income associated with the nearby consumer population. Elmwood Oaks is located just minutes from one of the world’s most dynamic cities. Renowned for its food, music, eclectic culture and Mardis Gras celebration, New Orleans continues to be at the top of the list for international and domestic tourists, alike. Situated at the mouth of the Mississippi River, the city is also home to one of the world’s busiest ports, boasting miles of waterways, six Class I railroads, and an interstate highway system; enabling the port to accommodate container shipping and break-bulk cargo as well as passenger cruises.