For Sale
$2,235,577

8420 Judge Perez DrChalmette, LA 70043

High-traffic Chalmette Starbucks, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
115
Brand new 2024 Starbucks in Chalmette, LA, offers a fee-simple, net-lease investment opportunity with a credit-rated corporate guarantee from Starbucks Corporation. The 2,225 square foot building sits on a 0.77-acre lot and boasts a 10.5-year lease (commencing September 4, 2024, and expiring February 28, 2035) with 10% rent bumps every five years and four five-year lease options. The property enjoys a prime location on a highly trafficked commercial corridor (34,152 vehicles per day), with convenient access to Interstate 10 and proximity to major employers including Chalmette Refining, Domino Sugar, and Valero Energy. The property benefits from a strong surrounding retail environment, including Walmart, RaceTrac, and other national retailers. The current net operating income (NOI) is $130,781, resulting in a 5.85% cap rate. The asking price is $2,235,577. This location is 27% below the national average rent for a new construction Starbucks. The property features a rare self-cam clause. The building is part of the Chalmette Retail Center, offering multiple points of ingress and egress. The location is within one mile of numerous highly trafficked retailers and within three miles of over 3 million square feet of industrial, office, and flex space. The property is also near St. Bernard Parish Hospital and several schools. The low rent factor and lack of nearby competition contribute to a high potential for strong operating margins and a recurring customer base. This is a rare opportunity to acquire a high-performing Starbucks investment in a rapidly growing market.

Highlights

  • Fee-simple, net-lease Starbucks investment in Chalmette, LA.
  • 2,225 SF building on a 0.77-acre lot with a 10.5-year lease (9/4/2024 - 2/28/2035), including 10% rent bumps every five years and four five-year options.
  • Prime location on a high-traffic corridor (34,152 VPD), near I-10, major employers, and strong retail.
  • $130,781 NOI, 5.85% cap rate, $2,235,577 asking price; 27% below national average rent for new construction Starbucks.
  • Includes a self-cam clause.

Property Details for 8420 Judge Perez Dr

Property type
Retail properties, Restaurants
Square Feet
2,225 SF
Year Built
2024
Stories
1
Lot Size (sq. ft)
33,541 SF

Location Insight

City
Chalmette
County
St. Bernard Parish
State
Louisiana
Latitude
29.952546244109
Longitude
-89.977313874174
8420 Judge Perez Dr, Chalmette, Louisiana

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8420 Judge Perez Dr
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