4200 Williams BlvdKenner, LA 70065

Property Details for 4200 Williams Blvd

Lot size

0.44 AC

Property size (Sq ft)

5,480 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple, 5,480 square foot Tire Choice (Monro Inc., NASDAQ: MNRO) auto shop in Kenner, Louisiana. The property boasts a strong 7.06% cap rate and a substantial $120,000 annual net operating income (NOI). Situated on a 0.44-acre lot, this single-story building benefits from a 10-year net lease (NN+) with 3, 5-year options, including 9% rent bumps at each option period. The lease commenced August 25, 2019, and expires August 31, 2029, leaving approximately 4.8 years remaining. The corporate guarantee from Monro Inc. provides significant financial security. This prime retail location is strategically positioned 0.6 miles from a new $100 million casino development and less than 4 miles from New Orleans International Airport, within a high-growth corridor of the New Orleans MSA. Kenner's robust demographics, coupled with the recession-resistant nature of the auto service industry and the tenant's 25+ year history in the submarket, make this a compelling investment. The asking price is $1,700,000, translating to $310.22 per square foot. The property is 100% occupied.

Location Insight

City

Kenner

County

Jefferson Parish

State

Louisiana

Latitude

30.0326

Longitude

-90.2377

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