507 Upstream StRiver Ridge, LA 70123

This exceptional investment opportunity presents a 10,138 square foot retail property in River Ridge, Louisiana, currently leased to St. Joseph Hospice, part of The Carpenter Health Network, under a 15-year NNN lease with 12.3 years remaining. The lease commenced March 18, 2022, and expires March 17, 2037, featuring a 2% annual rent increase. The property boasts a strong 6.40% cap rate and a substantial NOI of $124,848. Located on a 0.24-acre lot, the building was constructed in 2005 and offers a compelling price per square foot of $192.42. The property benefits from its prime location near Highway 90, experiencing high daily traffic counts averaging 51,470 vehicles. Its proximity to major retailers such as Winn-Dixie, Walgreens, and Walmart, along with significant medical facilities including Tulane Lakeside Hospital, Ochsner Medical Center, and New Orleans Children's Hospital, ensures strong visibility and consistent demand. The lease includes two 5-year renewal options, each with a 2% annual rent increase, providing long-term financial stability. The strong demographics of the area, with a 5-mile population of 188,486 and an average household income of $95,963, further enhance the investment potential. The property's location near the Louis Armstrong New Orleans International Airport, recognized as the Best Airport in North America in 2022 and 2023, adds to its appeal. This is a turnkey investment opportunity with a stable tenant and significant upside potential. The asking price is $1,950,750.