1909 Judge Perez DrChalmette, LA 70043

Property Details for 1909 Judge Perez Dr

Property size (Sq ft)

3,600 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional 3,600 square foot medical retail building in Chalmette, LA, presents a compelling investment opportunity. Located at 1909 E Judge Perez Dr, 70043, this fee-simple property boasts a 100% occupancy rate with a credit-rated single tenant under a 15-year NNN lease commencing December 1, 2022, featuring rent bumps. The property offers a stabilized investment with a 6.25% cap rate and a strong pro-forma NOI of $137,369. Priced at $2,197,904 ($610.53/sq ft), this asset benefits from its prime location on a major thoroughfare, near key amenities such as Chalmette High School, Valero Meraux Refinery, Ranch Film Studio expansion, and the St. Bernard Chamber of Commerce, as well as major retailers like Walmart, Home Depot, and Tractor Supply. The property's strategic position serves a large trade area encompassing several surrounding communities. Furthermore, the potential relocation of the Port of New Orleans downriver promises significant future economic growth for the area. The property is zoned C and is suitable for a 1031 exchange. This is a rare opportunity to acquire a high-performing, stable medical retail investment in a rapidly developing market.

Location Insight

City

Chalmette

County

St Bernard Parish

State

Louisiana

Latitude

29.9379

Longitude

-89.9454

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