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Shopping Strip

Dollar Tree Retail Center

2703 Belle Chasse Hwy, Terrytown, LA 70056

Listing Price: $4,230,000

Cap Rate
6.50%
Gross SF
36,492
Rentable SF
36,492
Price/Gross SF
$115.92
Lot Size
3.61 acres
Year Built
1986

Investment Overview

The subject property is a 36,492-square-foot, two-tenant retail center leased to Dollar Tree and La Morenita Meat Market located in Terrytown, Louisiana. Both Dollar Tree and La Morenita are long-term leases that include scheduled rent increases during. Dollar Tree has been a tenant in the center for 19 years and recently executed a 10-year lease extension, providing a total of 12 years remaining on the current term with no early termination option. This Dollar Tree store is ranked at the Top 99th percentile in the United States and is the top store in the state of Louisiana compared to other Dollar Tree locations (source: Placer Labs). La Morenita has occupied the center for 10 years, and currently has five years remaining on the term. The building was constructed in 1986 and is situated on approximately 3.6 acres, which includes a small pad site for potential development. Dollar Tree and La Morenita Meat Market is located near the signalized, hard corner of Belle Chase Highway and Lapalco Boulevard/Behrman Highway, with multiple ingress and egress points. Cumulative traffic counts are approximately 66,900 vehicles per day. The building adjacent to the subject property is currently being redeveloped as a CubeSmart Self Storage facility, with an anticipated opening date of March 2023. Neighboring national and regional retailers include Pep Boys Auto Parts, Hooters, CVS, Taco Bell, AutoZone Auto Parts, the UPS Store, Wendy's, Popeyes, Starbucks, Regions Bank, Smoothie King, Sonic Drive-In, RaceTrac, Firestone Complete Auto Care, Walgreens, and many others. The subject property is directly across the street from Ochsner Medical Center - West Bank, a general medical and surgical acute care facility with a team of more than 500 board-certified or board-eligible physicians, a highly trained nursing staff and other skilled allied-health professionals. Ochsner Medical Center is a nationally recognized top 100 hospital through U.S. News and World Report.

Investment Highlights

  • 100% Occupied | 34,492-Square-Foot, Two-Tenant Retail Center
  • Anchored by Dollar Tree | 58% of the Gross Leasable Area | NNN Lease | Tenant Recently Exercised a 10-Year Extension, Providing 12 Years Remaining on the Current Term | No Early Termination Option
  • Building is Situated on Approximately 3.6 Acres | Includes a Small Pad Site for Potential Development
  • Approximately Six Miles from the City of New Orleans | Hosts more than 19 Million Visitors Annually

Exclusively Listed By

Shopping Strip

Dollar Tree Retail Center

Listing Price: $4,230,000

Cap Rate
6.50%
Gross SF
36,492
Rentable SF
36,492
Price/Gross SF
$115.92
Lot Size
3.61 acres
Year Built
1986

Investment Highlights

  • 100% Occupied | 34,492-Square-Foot, Two-Tenant Retail Center
  • Anchored by Dollar Tree | 58% of the Gross Leasable Area | NNN Lease | Tenant Recently Exercised a 10-Year Extension, Providing 12 Years Remaining on the Current Term | No Early Termination Option
  • Building is Situated on Approximately 3.6 Acres | Includes a Small Pad Site for Potential Development
  • Approximately Six Miles from the City of New Orleans | Hosts more than 19 Million Visitors Annually

Investment Overview

The subject property is a 36,492-square-foot, two-tenant retail center leased to Dollar Tree and La Morenita Meat Market located in Terrytown, Louisiana. Both Dollar Tree and La Morenita are long-term leases that include scheduled rent increases during. Dollar Tree has been a tenant in the center for 19 years and recently executed a 10-year lease extension, providing a total of 12 years remaining on the current term with no early termination option. This Dollar Tree store is ranked at the Top 99th percentile in the United States and is the top store in the state of Louisiana compared to other Dollar Tree locations (source: Placer Labs). La Morenita has occupied the center for 10 years, and currently has five years remaining on the term. The building was constructed in 1986 and is situated on approximately 3.6 acres, which includes a small pad site for potential development. Dollar Tree and La Morenita Meat Market is located near the signalized, hard corner of Belle Chase Highway and Lapalco Boulevard/Behrman Highway, with multiple ingress and egress points. Cumulative traffic counts are approximately 66,900 vehicles per day. The building adjacent to the subject property is currently being redeveloped as a CubeSmart Self Storage facility, with an anticipated opening date of March 2023. Neighboring national and regional retailers include Pep Boys Auto Parts, Hooters, CVS, Taco Bell, AutoZone Auto Parts, the UPS Store, Wendy's, Popeyes, Starbucks, Regions Bank, Smoothie King, Sonic Drive-In, RaceTrac, Firestone Complete Auto Care, Walgreens, and many others. The subject property is directly across the street from Ochsner Medical Center - West Bank, a general medical and surgical acute care facility with a team of more than 500 board-certified or board-eligible physicians, a highly trained nursing staff and other skilled allied-health professionals. Ochsner Medical Center is a nationally recognized top 100 hospital through U.S. News and World Report.

Exclusively Listed By

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