Shopping Strip
Crowder Center
5790 Crowder Blvd, New Orleans, LA 70127
Listing Price: $3,366,000
Investment Overview
Marcus & Millichap is pleased to exclusively list Crowder Center, a 31,552-square-foot shopping center located at 5790 Crowder Boulevard in New Orleans, Louisiana. The property is situated on the corner of Interstate 10 (113,600 vehicles per day) and Crowder Boulevard (16,400 vehicles per day) in East New Orleans.
Producing a day one CAP rate of 10 percent, Crowder Center presents an investor with a rare opportunity to acquire a stabilized asset well above the current national average CAP rate of 6.71 percent for retail properties (according to data provided by CoStar). Crowder Center is 93.64 percent occupied, and 86.66 percent of the tenants have occupied the center with ongoing tenure of 8 years or more.
An investor can increase the Year-1 CAP rate of 10 percent to achieve a 11.19 percent CAP rate in Year-3 by maintaining occupancy, renewing leases at the scheduled renewal option rates, and leasing the 2,007-square-feet of vacancy at $13.00/square foot plus triple-net reimbursements.
Another opportunity to increase returns with this property would be through refinancing once interest rates reduce to a range of 7 percent or below.
Investment Highlights
- 31,552-Square-Foot, Multi-Tenant Retail Center: 100 Percent of Leases are Triple-Net | 93.64 Percent Occupancy
- Priced Below Replacement Cost: $106.68 Per Square Foot
- 10 Percent Year One CAP Rate | Achievable 11.19 Percent Year Three CAP Rate
- Value-Add Opportunity: Increase Rents Via Built-In Renewal Options | Lease the 2,007 Square Feet of Vacancy at $13.00+ | Per Square Foot Plus Triple-Net Reimbursements | Refinance at a Lower Interest Rate in the Future
Exclusively Listed By
Financing By
Listing Price: $3,366,000
Investment Highlights
- 31,552-Square-Foot, Multi-Tenant Retail Center: 100 Percent of Leases are Triple-Net | 93.64 Percent Occupancy
- Priced Below Replacement Cost: $106.68 Per Square Foot
- 10 Percent Year One CAP Rate | Achievable 11.19 Percent Year Three CAP Rate
- Value-Add Opportunity: Increase Rents Via Built-In Renewal Options | Lease the 2,007 Square Feet of Vacancy at $13.00+ | Per Square Foot Plus Triple-Net Reimbursements | Refinance at a Lower Interest Rate in the Future
Investment Overview
Marcus & Millichap is pleased to exclusively list Crowder Center, a 31,552-square-foot shopping center located at 5790 Crowder Boulevard in New Orleans, Louisiana. The property is situated on the corner of Interstate 10 (113,600 vehicles per day) and Crowder Boulevard (16,400 vehicles per day) in East New Orleans. Producing a day one CAP rate of 10 percent, Crowder Center presents an investor with a rare opportunity to acquire a stabilized asset well above the current national average CAP rate of 6.71 percent for retail properties (according to data provided by CoStar). Crowder Center is 93.64 percent occupied, and 86.66 percent of the tenants have occupied the center with ongoing tenure of 8 years or more. An investor can increase the Year-1 CAP rate of 10 percent to achieve a 11.19 percent CAP rate in Year-3 by maintaining occupancy, renewing leases at the scheduled renewal option rates, and leasing the 2,007-square-feet of vacancy at $13.00/square foot plus triple-net reimbursements. Another opportunity to increase returns with this property would be through refinancing once interest rates reduce to a range of 7 percent or below.
Exclusively Listed By
Financing By

