601 Loyola AveNew Orleans, LA 70113

Property Details for 601 Loyola Ave

Year built

2011

Lot size

0.72 AC

Property size (Sq ft)

23,700 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a 23,700 square foot, single-tenant retail convention center located within the Hyatt Regency New Orleans. The property boasts a 50-year NNN lease with approximately 40 years remaining, offering a secure and stable income stream. The lease includes CPI increases commencing in year six and every five years thereafter, ensuring future growth. Built in 2011 on a 0.72-acre lot (APN 41030820), this mission-critical asset is strategically situated in New Orleans' Central Business District, a vibrant area known for its strong hotel demand and entertainment scene. Its convenient location near I-10 and US Hwy. 90 ensures excellent accessibility. The property currently enjoys 100% occupancy, generating a substantial NOI of $459,658 and a 5.41% cap rate. The asking price is $8,500,000. The surrounding 5-mile radius demonstrates robust demographics, with an estimated population of 364,108, an average household income of $83,411, and a daytime population of 214,640. This is a rare chance to acquire a high-performing, long-term NNN investment in a thriving urban market. The property address is 601 Loyola Ave, New Orleans, LA 70113.

Location Insight

City

New Orleans

County

Orleans Parish

State

Louisiana

Latitude

29.9496

Longitude

-90.0775

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