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Walgreens | Corporate NN 11297 Lake Forest Blvd 14,920 SF Retail Building New Orleans, LA 70128 $4,172,405 CAD ($279.65 CAD/SF) 9.50% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Long-Term Lease | Percentage Rent
  • Top-Performing Walgreens Store
  • Prime Corner Location | Excellent Access to Major Thoroughfares
  • NN Lease | Minimal Landlord Responsibilities
  • Dense Retail Corridor | Complementary National Tenants
  • Strong Demographics | Affluent and Established Trade Area

EXECUTIVE SUMMARY

SRS Real Estate Partners is pleased to present the opportunity to acquire the fee simple interest in a long-standing Walgreens property located in New Orleans, Louisiana. Walgreens has operated at this site since 2000, with over 5 years of lease term remaining and 6 (5-Year) renewal options, demonstrating strong tenant commitment and income durability. The lease includes both fixed base rent and percentage rent, providing investors with upside tied to store performance: 2.0% of gross sales (excluding prescriptions and food), plus 0.5% of gross food sales and 0.5% of prescription sales. Structured as a NN lease, the tenant is responsible for taxes and insurance, while landlord obligations are limited to maintaining the exterior, roof, structure, and utility lines and replacing the parking lot, offering a low-management, passive ownership experience.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,920 SF
Building Class
C
Year Built
2000
Price
$4,172,405 CAD
Price Per SF
$279.65 CAD
Cap Rate
9.50%
NOI
$396,441 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Zoning
C1 - General Commercial
Parking
76 Spaces (5.09 Spaces per 1,000 SF Leased)
Frontage
341’ on Lake Forest Blvd

AMENITIES

  • Corner Lot
  • Dedicated Turn Lane
  • Freeway Visibility
  • Signage
  • Drive Thru
  • Monument Signage

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer 99,999 SF - Lorem Ipsum Jan 0000

NEARBY MAJOR RETAILERS

Anytime Fitness
Capital One
Waffle House

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
3-9W-0-165-93
Land Assessment
$69,238 CAD
Improvements Assessment
$627,187 CAD
Total Assessment
$696,425 CAD
  • Listing ID: 37352787

  • Date on Market: 2025-08-20

  • Last Updated:

  • Address: 11297 Lake Forest Blvd, New Orleans, LA 70128

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