Chipotle & Maxem Health Care | NNN Lses | 3810 LA-22
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Chipotle & Maxem Health Care | NNN Lses 3810 LA-22
4,700 SF 100% Leased Retail Building Mandeville, LA 70471 £2,626,581 (£559/SF) 6.50% Net Initial Yield
Investment Highlights
- 100% Leased, 2-Tenant Retail | NNN Leases | Rental Increases in Option Periods | Established Brands
- Outparcel to Grocery Anchored Center | Dense Retail Corridor | Strong National/Credit Tenant Presence
- Strategically Located Along LA-22 (28,700 VPD) | Excellent Visibility & Access | Large Pylon Sign
- Direct Consumer Base | Affluent Community | New Orleans MSA | Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership), in a 100% leased, 2-tenant, freestanding Chipotle & Maxem Urgent Care building in Mandeville, Louisiana (New Orleans MSA). The tenants, Maxem Urgent Care and Chipotle, have over 5 and 6 years of firm term remaining on their current lease terms, respectively. Both leases feature options to extend with rental increases, growing NOI and hedging against inflation (see page 18 for details). Chipotle Mexican Grill is a publicly-traded (NYSE: CMG) Fortune 500 Company with approximately 3,400 locations. Maxem Urgent Care is an established urgent care provider with 18 locations across Mississippi and Louisiana. Both tenants operate under NNN leases, making this an ideal, low-management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,700 SF
Year Built
2008
Price
£2,626,581
Price Per SF
£559
Net Initial Yield
6.50%
NOI
£170,728
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.18
Land Acres
0.60 AC
Zoning
B2 - Highway Business District
Parking
7.45 Spaces per 1,000 SF Leased
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Chipotle
- Accommodation and Food Services
-
99,999 SF
- -
-
Jan 0000
- Maxem Urgent Care
- Health Care and Social Assistance
-
99,999 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Chipotle | Accommodation and Food Services | 99,999 SF | - | Jan 0000 | ||
| Maxem Urgent Care | Health Care and Social Assistance | 99,999 SF | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 57417 | Improvements Assessment | £60,297 |
| Land Assessment | £18,474 | Total Assessment | £78,771 |
PROPERTY TAXES
Parcel Number
57417
Land Assessment
£18,474
Improvements Assessment
£60,297
Total Assessment
£78,771
-
Power Broker Patrick Luther -
Power Broker Matthew Mousavi -
Sabrina Sapienza -
SRS National Net Lease
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Chipotle & Maxem Health Care | NNN Lses | 3810 LA-22
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