AT&T and Sonder St. Charles Ave 1432 New Orleans, LA Cap Rate 6.5% New Orleans ( Louisiana, US ) Built

$6,210,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 9,000 sq. ft.
  • Development Level: Built
  • Year Built: 2018

Description

AT&T and Sonder St. Charles Ave 1432 New Orleans, LA Cap Rate 6.5%

Cap Rate: 6.5%
NOI: $403,650
Building Size: 9,000 sqft
Occupancy: 100%
Year Built: 2018

DESCRIPTION
• Opportunity to purchase a 100% occupied, two-tenant building at a combined 9,000 SF zoned as ‘Mixed-Use 1’ allowing for residential and retail space
• AT&T which occupies the first-floor retail space has approximately 8 years remaining on their initial term and four 5-year options to extend
• This store is a Flagship/Experience store, creating a more interactive and inviting store environment, a shopping experience like no other
• Sonder, an apartment-hotel company valued at over $1.1B, recently executed a brand new 10-year lease with two 5-year options, occupying the residential space which includes three individual condo units
• Strong residual value: commercially zoned condos are highly valuable as you can occupy or rent the space to visitors
• Each lease features scheduled rental increases throughout the initial term, generating NOI and hedging against inflation (see page 5 for more details)

• The subject property is strategically positioned at the signalized, hard corner intersection of Saint Charles Avenue and Martin Luther King Boulevard, averaging a combined 53,000 vehicles passing by daily
• This asset is located in Downtown New Orleans and within walking distance to local attractions such as Mercedes-Benz Superdome, Smoothie King Center, Riverwalk and more
• AT&T & Sonder benefit from significant street frontage and multiple points of ingress/egress, proving ease and convenience for customers and guests
• Recently remodeled which features high level finishes and distinct design elements


For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.