STNL Burlington | Algiers Plaza | New Orleans | 3022 Holiday Dr
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STNL Burlington | Algiers Plaza | New Orleans 3022 Holiday Dr
20,250 SF Retail Building New Orleans, LA 70131 $4,828,846 ($238/SF) 6.50% Cap Rate
Investment Highlights
- Burlington just signed a 10-year NNN lease in November 2024
- Center is anchored by national and regional brands
- Minimal landlord responsibility
Executive Summary
Introducing Burlington, a prime STNL investment opportunity located at 3022 Holiday Drive, New Orleans, LA. Boasting a solid 6.50% CAP rate, this 20,250 SF STNL property is part of Algiers Plaza, a bustling retail center in New Orleans hosting major anchor tenants like Winn-Dixie, Ross, and TJ Maxx. With a diverse mix of fast-food, daily necessities, and service providers, the center enjoys high visibility on three major roads and convenient access points.
Burlington recently moved into the center, operating under a secure 10-year lease, further enhancing the property's value. Situated just 5 miles from downtown New Orleans and close to key landmarks such as the New Orleans International Airport and the French Quarter, this property offers a lucrative investment opportunity with minimal landlord responsibilities.
Burlington recently moved into the center, operating under a secure 10-year lease, further enhancing the property's value. Situated just 5 miles from downtown New Orleans and close to key landmarks such as the New Orleans International Airport and the French Quarter, this property offers a lucrative investment opportunity with minimal landlord responsibilities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
20,250 SF
Building Class
B
Year Built/Renovated
1973/2014
Price
$4,828,846
Price Per SF
$238
Cap Rate
6.50%
NOI
$313,876
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Land Acres
1.73 AC
Zoning
C-2 - Commercial mixed use
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Burlington
- Retailer
- 20,250 SF
- -
- Triple Net
- Oct 2034
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Burlington | Retailer | 20,250 SF | - | Triple Net | Oct 2034 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 5-13-8-219-05 | Improvements Assessment | $1,478,300 |
| Land Assessment | $923,550 | Total Assessment | $2,401,850 |
PROPERTY TAXES
Parcel Number
5-13-8-219-05
Land Assessment
$923,550
Improvements Assessment
$1,478,300
Total Assessment
$2,401,850
-
Power Broker
John Kourafas, CCIM
-
Power Broker
Brett Visintainer
-
Steven Reisig
-
Chris Robertson
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STNL Burlington | Algiers Plaza | New Orleans | 3022 Holiday Dr
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