For Sale
$1,680,000

3018 Holiday Dr New Orleans, LA 70131

High-Cap Rate Petco Storefront

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a 10,500 square foot Petco storefront located at 3018 Holiday Drive in New Orleans, Louisiana. Part of the bustling 227,814 square foot Algiers Plaza shopping center, this property boasts a strong tenant in Petco, a credit-rated business with a lease extending to January 31, 2027 (approximately 2.2 years remaining). The property features a 7.50% cap rate and is situated on a 1.87-acre lot. Built in 2014, this single-unit, 100% occupied retail space benefits from a Net Net Net (NNN) lease structure. Algiers Plaza enjoys high visibility on major thoroughfares, receiving over 80,000 vehicle views daily, and is conveniently located near key landmarks, including the New Orleans International Airport and the French Quarter. The center's diverse tenant mix includes national and regional anchors such as Winn-Dixie, Ross, and TJ Maxx, ensuring stable long-term occupancy. This value-add investment offers a compelling opportunity for a savvy investor seeking a strong return in a prime New Orleans location. The asking price is $1,680,000.

Highlights

  • Petco has been a tenant since 2014.
  • Petco recently signed a three-year lease extension.
  • Located within a 227,814 square foot shopping center.
  • The center features a diverse mix of tenants.
  • Offers low rent per square foot.

Property Details for 3018 Holiday Dr

Property type
Retail properties, Retail space
Square Feet
10,500 SF
Year Built
2014
Buildings
1
Lot Size (sq. ft)
81,457 SF
Units
1

Location Insight

City
New Orleans
County
Orleans Parish
State
Louisiana
Latitude
29.923189751545
Longitude
-90.012077789865

FAQs

What type of property is this?
Retail property - High-Cap Rate Petco Storefront
Where is the retail property located?
The property is located at 3018 Holiday Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Petco has been a tenant since 2014.; Petco recently signed a three-year lease extension.; Located within a 227,814 square foot shopping center.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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3018 Holiday Dr
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