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4243 Canal St 3,642 SF Retail Building New Orleans, LA 70119 $2,088,090 CAD ($573.34 CAD/SF) 7.48% Cap Rate
Investment Highlights
- Top 10 Meineke store in the country!
- Dedicated turn lane
- 6 bay doors and 8 parking spots
- Pylon sign/signage
- Nearby retailers include an upcoming Aldi, Rouses, Marshall's, and Petco
Executive Summary
Top 10 Meineke store in the country!
This single tenant net lease (STNL) investment features Meineke Car Care Center as the in-place tenant, offering investors a passive income asset with minimal landlord responsibilities. The property's layout supports Meineke's service operations, making this a stable, purpose-built hold for investors seeking a proven automotive use in an established corridor. With NNN lease terms in place, this asset appeals to buyers prioritizing stable, low-maintenance returns.
Positioned along Canal St in New Orleans with access to the Canal streetcar and bus lines, this property sits within a dense, high-traffic retail corridor near Costco, Trader Joe's, and Chick-fil-A. The surrounding area also offers convenient access to pharmacies, restaurants, and a nearby library, further supporting steady foot and vehicle traffic through the immediate trade area.
This single tenant net lease (STNL) investment features Meineke Car Care Center as the in-place tenant, offering investors a passive income asset with minimal landlord responsibilities. The property's layout supports Meineke's service operations, making this a stable, purpose-built hold for investors seeking a proven automotive use in an established corridor. With NNN lease terms in place, this asset appeals to buyers prioritizing stable, low-maintenance returns.
Positioned along Canal St in New Orleans with access to the Canal streetcar and bus lines, this property sits within a dense, high-traffic retail corridor near Costco, Trader Joe's, and Chick-fil-A. The surrounding area also offers convenient access to pharmacies, restaurants, and a nearby library, further supporting steady foot and vehicle traffic through the immediate trade area.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,642 SF
Building Class
C
Year Built/Renovated
1950/2020
Price
$2,088,090 CAD
Price Per SF
$573.34 CAD
Cap Rate
7.48%
NOI
$156,189 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.49
Lot Size
0.17 AC
Zoning
C2 - Heavy Commercial (HU-MU)
Parking
8 Spaces (2.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2-06-2-088-21 | Improvements Assessment | $87,932 CAD |
| Land Assessment | $31,747 CAD | Total Assessment | $119,679 CAD |
Property Taxes
Parcel Number
2-06-2-088-21
Land Assessment
$31,747 CAD
Improvements Assessment
$87,932 CAD
Total Assessment
$119,679 CAD
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4243 Canal St
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