For Sale
$1,175,000

8228 Oak St New Orleans, LA 70118

New Orleans QSR & Office, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional New Orleans investment opportunity presents a fee-simple, two-building retail property at 8228 Oak St, totaling 3,540 net rentable square feet on a 4,315 sq ft lot. The property, built in 1960 and renovated in 2023, features a ground floor occupied by a nationally recognized Primo Hoagies franchise under a triple-net lease (NNN) with four years remaining. The upper floor currently houses a month-to-month therapy office/studio apartment, offering flexibility for owner-occupancy or additional lease income. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $81,000, resulting in a 6.89% cap rate. The asking price is $1,175,000 ($331.92/sq ft). The property is zoned HU-MU and includes three parking spaces. This prime location on bustling Oak Street is surrounded by thriving businesses, including Zotz Cafe, Oak Street Brewery, Jacques-Imo's, Maple Leaf Bar, and Breads on Oak. This is a turnkey investment ideal for those seeking immediate cash flow and long-term appreciation in a desirable New Orleans neighborhood. The property is available for a 1031 exchange.

Highlights

  • $1,175,000 asking price for a 3,540 SF net-leased retail property in New Orleans, LA.
  • Multi-tenant property (2 units) with 100% occupancy and a 6.89% cap rate.
  • NNN lease structure with $81,000 annual NOI.
  • Features two buildings on a 4,315 SF lot with 3 parking spaces.
  • Property includes a ground floor QSR/Fast Food tenant (Primo Hoagies) and an upstairs office/studio apartment, renovated in 2023.
  • Located on Oak Street in New Orleans, near popular restaurants and businesses.

Property Details for 8228 Oak St

Property type
Retail properties, Restaurants
Square Feet
3,540 SF
Class
B
Year Built/Renovated
1960/2023
Buildings
2
Stories
2
Units
2

Location Insight

City
New Orleans
County
Orleans Parish
State
Louisiana
Latitude
29.948471823909
Longitude
-90.131126034761

FAQs

What type of property is this?
Retail property - New Orleans QSR & Office, High NOI
Where is the retail property located?
The property is located at 8228 Oak St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: $1,175,000 asking price for a 3,540 SF net-leased retail property in New Orleans, LA.; Multi-tenant property (2 units) with 100% occupancy and a 6.89% cap rate.; NNN lease structure with $81,000 annual NOI.
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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8228 Oak St
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