620 Terry Pkwy Terrytown, LA 70056
- Retail properties
- 1,500 SF
- 0.25 lot acres
Current Use by Public Records
- New Orleans Original Daiquiris / Bar / Cocktail Bar
Property Details for 620 Terry Pkwy
- Year built
- 1974
- Lot size
- 0.25 lot acres
- Property size
- 1,500 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,500 square foot quick-service restaurant in Terrytown, Louisiana. The property, located at 620 Terry Pkwy, sits on a 0.25-acre lot and is currently 100% occupied by a New Orleans Original Daquiris under a 20-year absolute triple-net (NNN) lease, commencing July 1, 2024, and expiring June 30, 2044. With approximately 19.6 years remaining, this lease offers a passive income stream with zero landlord responsibilities. The current annual net operating income (NOI) is $85,436, representing a 7.00% cap rate on the asking price of $1,220,514. The lease includes flat rent until July 2030, followed by annual increases of 3.00%, providing a hedge against inflation. Built in 1974, this property is an ideal investment for those seeking a stable, long-term, and low-maintenance income stream. The corporate guarantee adds further security to this attractive investment. The property's location in Terrytown, Jefferson Parish, LA 70056, offers convenient access and visibility. This is a rare opportunity to acquire a well-established, high-performing restaurant property with significant remaining lease term and built-in rent growth.
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
- Terrytown
- County
- Jefferson Parish
- State
- Louisiana
- Longitude
- -90.0307
- Latitude
- 29.9028
