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Auto Service - Gas-Conv

Kangaroo Express

SEC St Andrews Blvd & Belle Terre Blvd, LaPlace (New Orleans), LA 70068

Listing Price: $5,679,000

Cap Rate
5.65%
Tenant Name
Gas Express, LLC d/b/a Kangaroo Express
Years Remaining On Lease
19.7
Guarantor
Franchisee Guarantee
Rentable SF
4,200
Lease Type
Absolute Net
Rent Per Square Feet
$76.39

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Part of the New Orleans MSA, the most populous city in Louisiana and a major economic and commercial hub for the broader Gulf Coast region - Strategically positioned in dense a residential area at the entrance of the Belle Terre neighborhood, home to the Belle Terre Country Club, the “finest option for a round of golf in New Orleans” - Located on the hard corner of a signalized intersection - ±1 mile south of I-10 - Multiple points of ingress/egress - Flat topography with phenomenal visibility - Brand new 2021 construction - Ample parcel size of ±1.96 acres - 40% of households within a 5-mi radius have an average income above $75K OPTIMAL LEASE STRUCTURE - Rare 20-year base term - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple Net (NNN) lease with no landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Alimentation Couche-Tard franchisee - Expanding 93-unit operator across 4 states (AL, AR, GA, LA) - 26+ year operating history - Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate) NEW ORLEANS, LA MSA ADVANTAGE - Gross Domestic Product of $77.4 B (2019) - The Port of New Orleans is one of the world’s largest and busiest ports and metropolitan New Orleans is a center of maritime industry - Major industries include energy, advanced manufacturing, international trade, and tourism › New Orleans’ tourist and convention industry is a $5.5 B industry - The city is a center for higher learning with over 50K students enrolled in the region’s eleven two and four-year degree-granting institutions - LaPlace is ranked as one of best places in Louisiana to live (Livability) - Major Private Employers: › Louisiana Superdome - 10,000 jobs › University of New Orleans - 3,114 jobs › Tulane Medical Center - 2,000 jobs › Harrah's New Orleans Casino - 2,000 jobs

Investment Highlights

  • Part of the New Orleans MSA
  • ±1 mile south of I-10
  • Located on the hard corner of a signalized intersection
  • 10% rent escalations every 5 years throughout entire lease
  • Triple Net (NNN) lease with no landlord responsibilities
  • Largest Alimentation Couche-Tard franchisee

Exclusively Listed By

Listing Price: $5,679,000

Cap Rate
5.65%
Tenant Name
Gas Express, LLC d/b/a Kangaroo Express
Years Remaining On Lease
19.7
Guarantor
Franchisee Guarantee
Rentable SF
4,200
Lease Type
Absolute Net
Rent Per Square Feet
$76.39

Investment Highlights

  • Part of the New Orleans MSA
  • ±1 mile south of I-10
  • Located on the hard corner of a signalized intersection
  • 10% rent escalations every 5 years throughout entire lease
  • Triple Net (NNN) lease with no landlord responsibilities
  • Largest Alimentation Couche-Tard franchisee

Investment Overview

STRONG REAL ESTATE FUNDAMENTALS - Part of the New Orleans MSA, the most populous city in Louisiana and a major economic and commercial hub for the broader Gulf Coast region - Strategically positioned in dense a residential area at the entrance of the Belle Terre neighborhood, home to the Belle Terre Country Club, the “finest option for a round of golf in New Orleans” - Located on the hard corner of a signalized intersection - ±1 mile south of I-10 - Multiple points of ingress/egress - Flat topography with phenomenal visibility - Brand new 2021 construction - Ample parcel size of ±1.96 acres - 40% of households within a 5-mi radius have an average income above $75K OPTIMAL LEASE STRUCTURE - Rare 20-year base term - Four (4), 5-year renewal options - 10% rent escalations every 5 years throughout entire lease - Triple Net (NNN) lease with no landlord responsibilities - Tax advantages with accelerated depreciation due to fee simple ownership LARGE FRANCHISEE & DOMINANT BRAND - Largest Alimentation Couche-Tard franchisee - Expanding 93-unit operator across 4 states (AL, AR, GA, LA) - 26+ year operating history - Alimentation Couche-Tard is an international brand with 15,000+ locations in 20 countries (corporate) NEW ORLEANS, LA MSA ADVANTAGE - Gross Domestic Product of $77.4 B (2019) - The Port of New Orleans is one of the world’s largest and busiest ports and metropolitan New Orleans is a center of maritime industry - Major industries include energy, advanced manufacturing, international trade, and tourism › New Orleans’ tourist and convention industry is a $5.5 B industry - The city is a center for higher learning with over 50K students enrolled in the region’s eleven two and four-year degree-granting institutions - LaPlace is ranked as one of best places in Louisiana to live (Livability) - Major Private Employers: › Louisiana Superdome - 10,000 jobs › University of New Orleans - 3,114 jobs › Tulane Medical Center - 2,000 jobs › Harrah's New Orleans Casino - 2,000 jobs

Exclusively Listed By

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