Retail    

Walgreens

 Jefferson (New Orleans), LA

Asking Price

$9,120,000

Cap Rate

6.25%

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Lease

Absolute NNN

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Demographics

100K+ (3 Miles)

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Credit

Investment Grade

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MSA

New Orleans

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INVESTMENT HIGHLIGHTS

  • Long-Term Lease: +/- 19 years remaining on Walgreens' base term with 45 years of options thereafter.
  • Absolute NNN Lease: Opportunity to purchase a Walgreens with absolutely no landlord maintenance.
  • Very Strong Demographics: The Property offers very strong demographics with a 3-mile population of over 100,000 and a 5-mile of over 319,500. Average household income for both the 3- and 5-mile radii is approximately $95,000. The Property is situated on a hard corner, lighted intersection of Louisiana State Route 90 and traffic of over 35,000 vehicles per day.

 

  • Investment Grade Credit: Walgreens (NASDAQ: WBA, S&P: BBB/Stable) is the largest drugstore chain in the US, reporting 2023 sales of over $139 billion.
  • New Orleans MSA: The Property is located in Jefferson, LA, within the New Orleans MSA. New Orleans is the 45th largest MSA in the US with a population of over 1,270,000. 
  • Proximity to Ochsner Medical Center: The Property is located 2 miles from the Ochsner Medical Center, part of the Ochsner Health System. It provides medical service to the Gulf South region and attracts patients nationwide due to their world-class, innovative programs.

Exclusively Listed By

Erik Lundberg

Associate Vice President
  elundberg@northmarq.com      918.794.9732

In Association With
Jeff Matulis

LA Lic. #BROK0995697340-ASA

Northmarq

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