Drug Store on Absolute NNN
For Sale
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3621 General De Gaulle Dr, New Orleans, LA 70114
Drug store leased to CVS under an absolute NNN structure with over 9.7 years remaining.
Property Size13,013 SF
Price / SF$409.59
Days on Market240
Property Features for 3621 General De Gaulle Dr
General Information
Standard status
Active
Size
13,013 SF
Property subtype
RETAIL
Additional Details
Traffic Count
30,000 vehicles/day
Building Details
Tenancy
Single
Listing Agency:
Lee & Associates | North San Diego County
(760) 929-9700
Listed By:
Ryan Bennett · License #01826517
(760) 519-0240
Source:
Moodyscre
Added: Feb 18
Changed: Oct 1
Last Checked: Oct 14 at 11:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | North San Diego County
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Investment Insights
Based on property information with market context.
This drug store property is leased to CVS and structured as an absolute NNN lease. The lease term has over 9.7 years remaining, supporting long-term, passive income characteristics. CVS is identified as an investment-grade tenant with an S&P BBB credit rating.
The property is located in the city of New Orleans with frontage to General De Gaulle Drive, listed at 30,000 CPD. It is described as being on a major retail and travel corridor with only 4 miles to U.S. Hwy 90, listed at 60,000+ CPD, providing direct access to downtown New Orleans and serving a dense retail trade area.
With a total size of 13,013 square feet, the offering is presented as a pharmacy real estate opportunity positioned near medical centers and senior living facilities.
The property is located in the city of New Orleans with frontage to General De Gaulle Drive, listed at 30,000 CPD. It is described as being on a major retail and travel corridor with only 4 miles to U.S. Hwy 90, listed at 60,000+ CPD, providing direct access to downtown New Orleans and serving a dense retail trade area.
With a total size of 13,013 square feet, the offering is presented as a pharmacy real estate opportunity positioned near medical centers and senior living facilities.
Key Highlights
- Absolute NNN lease with CVS, S&P BBB credit rating
- Over 9.7 years remaining on the lease term
- Frontage to General De Gaulle Drive (30,000 CPD)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,639
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,672,780
$3.7M
Cap Rate 7%
$2,623,414
$2.6M
Cap Rate 9%
$2,040,433
$2.0M
Market Conditions
NOI Build-Up for 13,013 SF
Gross rent
$249.8K $19.20/SF
− Vacancy
−$5.0K −$0.38/SF
EGI
$244.9K $18.82/SF
− OpEx
−$61.2K −$4.70/SF
NOI
$183.6K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,672,780
Cap Rate 7%
$2,623,414
Cap Rate 9%
$2,040,433
Alternative Uses
Best Use
Specialty Retail
$2.62M
$2.30M – $3.06M
NOI $183,639 @ 7.0% cap · market cap 3.45%
Second Best
Retail
$2.30M
$2.01M – $2.68M
NOI $160,685 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$3.31M
$2.89M – $3.86M
NOI $231,523 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
30,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
127k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 42%
Electronics 4%
Beauty & Spa 1%
McDonald's
Dining
24,456 visits/mo
0.1 miles
Popeyes Louisiana Kitchen
Dining
14,604 visits/mo
0.4 miles
Capital One Bank
Shops & Services
12,744 visits/mo
0.3 miles
Dollar Tree
Shops & Services
12,361 visits/mo
0.3 miles
Exxon
Shops & Services
11,937 visits/mo
0.2 miles
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Orleans, LA
Similar Off Market Nearby
- Body Sculpting by Brie — 4480 General De Gaulle Dr Suite 202, New Orleans, LA 70131
- Randy S. Carr, RPh — 3500 Holiday Dr, New Orleans, LA 70114
- Stephen Le — 3500 Holiday Dr, New Orleans, LA 701148229
- Alvin Ruiz — 4110 General De Gaulle Dr, New Orleans, LA 701318231
- Vincent Culotta — 4110 General De Gaulle Dr, New Orleans, LA 701318231
Frequently Asked Questions
What type of property is this?
Drug store - Drug store leased to CVS under an absolute NNN structure with over 9.7 years remaining.
Where is this drug store located?
The property is located at 3621 General De Gaulle Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $5,330,000.
What are key features of this property?
This property features: Absolute NNN lease with CVS, S&P BBB credit rating; Over 9.7 years remaining on the lease term; Frontage to General De Gaulle Drive (30,000 CPD)
