3022 Holiday DrNew Orleans, LA 70131

Property Details for 3022 Holiday Dr

Year built

2013

Lot size

1.73 AC

Property size (Sq ft)

20,250 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a single-tenant, 20,250-square-foot shopping center in Algiers Plaza, New Orleans, Louisiana. The property is 100% occupied by Burlington, a credit-rated national retailer, under a 10-year NNN lease commencing November 1, 2024, and expiring October 31, 2034. The lease includes a 3.2% rent bump in year six and lease options. The property boasts a strong 6.50% cap rate and a net operating income (NOI) of $313,875. Built in 2013, this single-story building sits on a 1.73-acre lot at 3022 Holiday Drive, New Orleans, LA 70131. Algiers Plaza is a thriving retail center with high visibility and convenient access, featuring a diverse mix of national and regional tenants including Winn-Dixie, Ross, and TJ Maxx. The property benefits from a dense population with high average household incomes within a five-mile radius, and its proximity to downtown New Orleans and the New Orleans International Airport further enhances its appeal. The NNN lease structure minimizes landlord responsibilities, limiting them to the roof and building structure. This is a core investment with significant upside potential.

Location Insight

City

New Orleans

County

Orleans Parish

State

Louisiana

Latitude

29.9228

Longitude

-90.0124

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