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Walgreens | Corporate NN | New Orleans 11297 Lake Forest Blvd 14,920 SF 100% Leased Retail Building Online Auction Sale New Orleans, LA 70128
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- Benefit from this NN Walgreens location in New Orleans with years remaining on the lease and historical occupancy since 2000.
- Top-performing Walgreens store ranking in the 91st percentile nationwide and 89th percentile in Louisiana with over 477,000 annual visits.
- Surrounded by a plethora of retailers such as Walmart Supercenter, Subway, Burger King, McDonald’s, and Wendy’s.
- Prominently situated at the intersection with Bullard Avenue, this corner location experiences traffic exceeding 21,000 vehicles per day.
- Positioned for success near Interstate 10 and Route 47, which connect to downtown in under 15 minutes.
- On-site NN lease allows for minimal landlord responsibilities, creating the ideal, cash-flowing, hands-off investment.
EXECUTIVE SUMMARY
SRS Real Estate Partners is pleased to present the opportunity to acquire fee simple interest in a long-standing Walgreens property located in New Orleans, Louisiana. Walgreens has operated at this site since 2000, with over five years of lease term remaining and six (five-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. The NN lease allows for low-management and passive ownership. The tenant is responsible for taxes and insurance, while landlord obligations are limited to maintaining the exterior, roof, structure, utility lines, and replacing the parking lot.
According to Placer.ai, this is a top-performing location, ranking in the 91st percentile nationally and the 89th percentile in Louisiana, with over 477,000 annual visits and strong, sustained foot traffic. The property sits at the signalized hard corner of Lake Forest Boulevard and Bullard Avenue, with excellent regional access via Interstate 10 and Route 90. Nearby national tenants include Chase Bank, McDonald’s, Burger King, and KFC, with Walmart Supercenter and The Home Depot just five minutes away, further enhancing daily traffic and tenant synergy. The surrounding area features over 73,000 residents and 21,000 employees within 5 miles, and an average household income exceeding $91,000 in the 1-mile radius, driven by established neighborhoods and an affluent consumer base. Located within the New Orleans MSA, a diverse economy anchored by healthcare, energy, and higher education, the property benefits from a strong employment base and ongoing investment.
This offering presents a rare opportunity to acquire a top-performing Walgreens with percentage rent, long-term lease security, minimal landlord responsibilities, and a prime corner location in one of Louisiana’s most vital growth markets.
Property tours are available by appointment only. Please contact the listing broker to schedule.
According to Placer.ai, this is a top-performing location, ranking in the 91st percentile nationally and the 89th percentile in Louisiana, with over 477,000 annual visits and strong, sustained foot traffic. The property sits at the signalized hard corner of Lake Forest Boulevard and Bullard Avenue, with excellent regional access via Interstate 10 and Route 90. Nearby national tenants include Chase Bank, McDonald’s, Burger King, and KFC, with Walmart Supercenter and The Home Depot just five minutes away, further enhancing daily traffic and tenant synergy. The surrounding area features over 73,000 residents and 21,000 employees within 5 miles, and an average household income exceeding $91,000 in the 1-mile radius, driven by established neighborhoods and an affluent consumer base. Located within the New Orleans MSA, a diverse economy anchored by healthcare, energy, and higher education, the property benefits from a strong employment base and ongoing investment.
This offering presents a rare opportunity to acquire a top-performing Walgreens with percentage rent, long-term lease security, minimal landlord responsibilities, and a prime corner location in one of Louisiana’s most vital growth markets.
Property tours are available by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOUR
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Ten-X Auction FAQ
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Building Size
14,920 SF
Building Class
C
Year Built
2007
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Parcel Number
3-9W-0-165-93
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, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,115
53,489
68,625
2020 Population
8,752
59,627
75,532
2029 Population
7,752
50,714
65,261
2024-2029 Projected Population Growth
-4.5%
-5.2%
-4.9%
Daytime Employees
1,923
18,635
22,875
Total Businesses
255
1,985
2,461
Average Household Income
$76,612
$53,391
$51,834
Median Household Income
$50,335
$35,175
$33,801
Total Consumer Spending
$83.7M
$427.1M
$537.7M
Median Age
43.2
38.3
38.0
2024 Households
3,072
19,273
24,724
Percent College Degree or Above
16%
12%
11%
Average Home Value
$288,355
$218,962
$215,707
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Sabrina Sapienza, Vice President
Sabrina joined SRS in 2019 as a Senior Associate in New York as part of the Capital Markets Team. With over 4 years of experience in single-tenant net lease and retail shopping center assets across the country, she began her career with Marcus & Millichap in their flagship Manhattan office.
Sabrina specializes in investment sales throughout the country with a specific focus in the Gulf South and Texas. She focuses on advising clients through ground-up development, asset repositioning, lease negotiation, and 1031 tax-deferred exchanges. Within the past year, Sabrina was responsible for over $75 million worth of assets sold, placed under contract and exclusively listed. Most recently, Sabrina was selected as the winner of the Rising Star award for the National Net Lease team. This award is given by SRS to new brokers with outstanding performance in their first year with the firm.
Sabrina specializes in investment sales throughout the country with a specific focus in the Gulf South and Texas. She focuses on advising clients through ground-up development, asset repositioning, lease negotiation, and 1031 tax-deferred exchanges. Within the past year, Sabrina was responsible for over $75 million worth of assets sold, placed under contract and exclusively listed. Most recently, Sabrina was selected as the winner of the Rising Star award for the National Net Lease team. This award is given by SRS to new brokers with outstanding performance in their first year with the firm.
Kyle Fant, Senior Vice President, Managing Principal
Kyle Fant is a Senior Vice President and Managing Principal for SRS Real Estate Partners. He joined SRS in 2017 alongside his partner, Britt Raymond, to lead the Capital Markets division in New York City and drive growth along the East Coast. Kyle has over ten years of experience specializing in the sale of single and multi-tenant net leased properties nationwide. Since joining SRS, Kyle has consistently been recognized as a top producer, closing more than 400 transactions in over 35 states, with a total sales volume exceeding $1 billion. He has represented some of the most active developers and investment companies in the country.
Kyle’s client base consists of developers, private and public institutions, family offices, private investors, and tax-deferred exchange investors. Kyle takes pride in his relentless will to execute assignments on behalf of his clients and holding himself to the highest standard of client service. He is constantly growing his database of qualified buyers and sellers nationwide.
Kyle’s client base consists of developers, private and public institutions, family offices, private investors, and tax-deferred exchange investors. Kyle takes pride in his relentless will to execute assignments on behalf of his clients and holding himself to the highest standard of client service. He is constantly growing his database of qualified buyers and sellers nationwide.
Britt Raymond, Senior Vice President, Managing Principal
Britt Raymond is Senior Vice President and Managing Principal of New York Capital Markets. Britt spearheads efforts to grow SRS’s presence across the northeast. She advises owners of net lease assets and anchored shopping centers nationwide to buy, acquire, or finance. She also provides 1031 Tax Deferred Exchange advisory. She has closed over $2.75 billion in commercial real estate transactions in her career. Britt Raymond joined SRS in 2017 with eight years of commercial real estate experience. Since joining, she has established herself as a leader in the market through her expertise in the economic factors that cause shifts in the retail industry. Britt has been recognized as Globest Women of Influence in 2022 and 2020, Connect CRE Next Generation winner for the Tristate in 2022, CREXI Platinum Broker 2022, New York Real Estate Journal Women in Real Estate Spotlight and as a Top Producer sales recognition award at SRS from 2021, which recognizes the top performing brokers within the firm.
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AUCTION CONTACT
Molly Patten
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr BROK.0995692305-CORP Irvine, CA; Auction Firm LA AB-446
1 of 8
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Walgreens | Corporate NN | New Orleans | 11297 Lake Forest Blvd
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Walgreens | Corporate NN | New Orleans | 11297 Lake Forest Blvd
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