Kenner Fully Leased Retail 9% Cap Rate

Retail-Commercial for Sale
Catylist Listing ID: 30590752
Property Subtypes: Street Retail
Building Size (RSF): 13,350 SF
Gross Building Area: See Agent
Gross Land Area: 16,771 - 11,700 SF
Sale Price: $1,400,000
Unit Price: $104.87 PSF
Property Use Type: Investment
Usable Size (USF): 13,350 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 100
Last Updated: 5/14/2020

Overview / Comments

Is your coronavirus doubling every 3 days?
Remember the Rule of 72? Divide your rate of return into 72 and that's how long it takes to double your money. So what are today's rates on investments?
*Certificates of Deposit-5 year Hancock/Whitney: 1%.
*Tax-Free Bond-Caddo Parish School Muni due 2040: 2.5%.
*Corporate Bond-Hersey A Rated due 2049: 3.2%.
*Dividend Stock-Entergy @ $100: 3.2%.
*Stock Market-Spider SPY, last 12 months: -6.5%

If the best rate you can get is 3.2%, it takes 22 years to double your money. But now you can double your money in 8 years with the 9% cap rate if you buy 100% leased investment property 2100 3rd street.

See detail in attached comprehensive Marketing Presentation including APOD, ESRI demographics showing drive times, Consumer Expenditure Report and Marketplace Leakage research concluding this property can have a high occupancy rate with tenants needed in the area such as florists, liquor stores and lawn & garden supplies.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Tax ID/APN: 920000332
Zoning: C-1
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,361 94,171 213,935
Median Age: 39.78 39.61 40
Households: 3,868 36,404 86,183

Contact

Photograph of Listing Agent

Robert L Hand

Louisiana Commercial Realty, LLC Metairie, LA 70002
LACDB Member
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