1415 St Charles St Houma, LA 70360
- Retail properties
- 14,820 SF
- 1.71 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1415 St Charles St
- Year built
- 2004
- Lot size
- 1.71 lot acres
- Property size
- 14,820 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 14,820-square-foot Walgreens pharmacy and storefront located at 1415 St Charles St, Houma, LA 70360. The property sits on a 1.71-acre lot and boasts a 25-year absolute NNN lease (commencing November 1, 2007, and expiring October 31, 2032), with 7.9 years remaining and fifty one-year options. The lease is backed by a corporate guarantee from Walgreens Co., a significant advantage for investors. This location consistently ranks among the top performers in the Walgreens network, achieving a 71st percentile national ranking and an 85th percentile ranking within a 15-mile radius according to Placer AI. The property generates a substantial NOI of $348,250, resulting in a compelling 6.76% cap rate at an asking price of $5,150,000 ($347.50/sq ft). Built in 2004, the single-building property benefits from a high-traffic location within a densely populated area (over 61,764 people within a 5-mile radius) and an affluent community (average household income within 1 mile is $116,873). The property's strategic location is further enhanced by the presence of numerous national tenants nearby, including CVS, Rouses Market, Chase Bank, Regions Bank, KFC, and Taco Bell. This is a passive investment opportunity with zero landlord responsibilities, offering significant long-term value and strong potential for return. The property features a drive-thru for added convenience.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Houma
- County
- Terrebonne Parish
- State
- Louisiana
- Longitude
- -90.7458
- Latitude
- 29.5841
