2105 Cleary Ave Metairie, LA 70001

This exceptional investment opportunity presents a freestanding CVS Pharmacy in Metairie, LA, situated on a 1.19-acre lot. The property boasts 13,225 square feet and features a drive-thru, enhancing its value and convenience. The absolute triple-net (NNN) lease with a corporate guarantee from CVS Pharmacy offers significant security and a long-term income stream. With over 11 years remaining on the 26-year lease, and five 5-year renewal options, the property provides a stable investment with built-in rent increases of 10% every five years. The property enjoys a prime location at a signalized intersection with high traffic volume (22,000 vehicles per day), and benefits from a strong demographic profile, including an affluent population and high household incomes within a 5-mile radius. The property has 48 parking spaces and was built in 2010. The asking price is $4,650,000, representing a 5.72% cap rate and a net operating income (NOI) of $266,200. The property is zoned NRC and has a Jefferson Parish APN of 0-82-0038746. This is a passive investment opportunity with significant upside potential.