CVS | 9+ Years Remaining 888 Terry Pky 15,970 SF Retail Building Terrytown, LA 70056 $3,100,000 ($194.11/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Signed Lease | Options To Extend | Scheduled Rental Increases
- Towne Square Shopping Center | Near Outlets At Orange
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, CVS Pharmacy investment property located in Terrytown, Louisiana. The tenant, CVS, has over 9 years of lease term remaining with 9 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,970 SF
Building Class
B
Year Built
2006
Price
$3,100,000
Price Per SF
$194.11
Cap Rate
7.50%
NOI
$232,496
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
1.06 AC
Zoning
C1
Parking
66 Spaces (4.13 Spaces per 1,000 SF Leased)
Frontage
626’ on Hickory Street
AMENITIES
- Corner Lot
- Signage
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $156,700 | |
| Land Assessment | $69,580 | Total Assessment | $226,508 |
