8420 Judge Perez Dr, Chalmette, LA 70043

Property Details for 8420 Judge Perez Dr

Year built

2024

Lot size

0.77 lot acres

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

Brand new 2024 Starbucks in Chalmette, LA, offers a fee-simple, net-lease investment opportunity with a credit-rated corporate guarantee from Starbucks Corporation. The 2,225 square foot building sits on a 0.77-acre lot and boasts a 10.5-year lease (commencing September 4, 2024, and expiring February 28, 2035) with 10% rent bumps every five years and four five-year lease options. The property enjoys a prime location on a highly trafficked commercial corridor (34,152 vehicles per day), with convenient access to Interstate 10 and proximity to major employers including Chalmette Refining, Domino Sugar, and Valero Energy. The property benefits from a strong surrounding retail environment, including Walmart, RaceTrac, and other national retailers. The current net operating income (NOI) is $130,781, resulting in a 5.85% cap rate. The asking price is $2,235,577. This location is 27% below the national average rent for a new construction Starbucks. The property features a rare self-cam clause. The building is part of the Chalmette Retail Center, offering multiple points of ingress and egress. The location is within one mile of numerous highly trafficked retailers and within three miles of over 3 million square feet of industrial, office, and flex space. The property is also near St. Bernard Parish Hospital and several schools. The low rent factor and lack of nearby competition contribute to a high potential for strong operating margins and a recurring customer base. This is a rare opportunity to acquire a high-performing Starbucks investment in a rapidly growing market.

Location Insight

City

Chalmette

County

St. Bernard Parish

State

Louisiana

Longitude

-89.9773

Latitude

29.9525