Drug Store on Absolute NNN
3621 General De Gaulle Dr New Orleans, LA 70114
For Sale
Contact for pricing
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 Market162
Property Features for 3621 General De Gaulle Dr
General Information
Standard status
Active
Size
13,013 SF
Property subtype
RETAIL
Listing Agency:
Lee & Associates | North San Diego County
(760) 519-0240
Listed By:
Ryan Bennett · License #01826517
(760) 519-0240
Source:
Moodyscre
Added: Feb 18
Changed: Jul 30
Last Checked: Jul 30 at 5:43AM
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
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 For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $249.8k | $19.20 |
| − Vacancy | −$5.0k | −$0.38 |
| EGI | $244.9k | $18.82 |
| − OpEx | −$61.2k | −$4.70 |
| NOI | $183.6k | $14.11 |
13,013 SF · lease $19.20/SF/yr · vacancy 2.00% · expense 25.00%
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.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- 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
- Body Sculpting by Brie — 4480 General De Gaulle Dr Suite 202, New Orleans, LA 70131
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)
