New Orleans Original Daiquiris
Terrytown, LA
Key Details
| Price: | $1,220,514 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $85,436 |
| Address: | 620 Terry Parkway, Terrytown, Louisiana 70056 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/1/2024 |
| Lease Expiration: | 6/30/2044 |
| Lease Term Remaining: | 19.6 Years |
| Rental Increases: | 3% annually starting Year 7 |
| Lot Size: | 0.25 Acres |
| Building Size: | 1,500 SF |
| Year Built: | 1974 |
NNN Pro is pleased to present the exclusive listing for a New Orleans Original Daiquiris located at 620 Terry Parkway, Terrytown, Louisiana 70056. The site consists of roughly 1500 rentable square feet of building space on an estimated 0.25-acre parcel of land. This New Orleans Original Daiquiris is subject to a 20-year Triple Net (NNN) lease, which commenced 7/1/2024. The current annual rent is $85,436 and has scheduled increases of 3% annually starting Year 7.
About the Investment
- Absolute Triple-Net (NNN) Lease | Zero Landlord Responsibilities The property is subject to an absolute triple-net lease with zero landlord responsibilites, offering a future landlord with a truly passive income stream.
- Brand New Twenty (20)-Year Lease | Approximately 19.6 Years Remaining | Four (4), Five (5)-Year Options The property is subject to a brand new long-term twenty-year lease with four, five-year options remaining. Approximately 19.6 years remain on the original twentyyear lease.
- Rental Increases Of Three Percent (3.00%) Annually Beginning In 2030 The lease of the subject property features flat rent until July 2030. There are 3.00% increases annually thereafter, offering a potential landlord with a hedge against inflation.
Key Details
| Price: | $1,220,514 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $85,436 |
| Address: | 620 Terry Parkway, Terrytown, Louisiana 70056 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 7/1/2024 |
| Lease Expiration: | 6/30/2044 |
| Lease Term Remaining: | 19.6 Years |
| Rental Increases: | 3% annually starting Year 7 |
| Lot Size: | 0.25 Acres |
| Building Size: | 1,500 SF |
| Year Built: | 1974 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Judson Kauffman
jkauffman@nnnpro.com
License: NY: 10401296108
Hannan Ben Yosef
hbenyosef@nnnpro.com
License: NY: 10401358655
Matt Sorace
msorace@nnnpro.com
License: NY: 10401367850
Broker of Record
Brian Brockman
Bang Realty, Inc
License: BROK.0995684990-ASA
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.