Harbor Marketplace

Asset Type

Retail

Address
3810 Highway 22 Mandeville, LA United States 70471-7328
Asking Price

S$4,259,000

Sq Footage

4,700

Year Built

2018

Cap Rate

6.40%

Additional Attributes

Property Description

Two-tenant outparcel for sale, occupied by Chipotle Mexican Grill and Maxem Health Urgent Care in Mandeville, part of the New Orleans MSA. Located at the highly-trafficked intersection of N Causeway Boulevard and Emerald Road, just 35 miles north of New Orleans. The asset is an outparcel to the Northlake Shopping Center which is anchored by leading retailers such as Fresh Market and PetSmart. Surrounded by many other retail plazas including the Premier Center, a retail power shopping center with 26 tenants. Mandeville’s population has an average annual household income of $102,650 and is one of the wealthiest parishes in Louisiana. With a five-year projected annual population growth rate of 1.6%, Mandeville will continue to see rapid growth as residents relocate to the area for its high quality of life.

Investment Highlights

  • Fee simple interest
  • Property features an NN lease structure with over 9 years of weighted of primary term with renewal options for each tenant
  • The Chipotle is one of only 9 in Louisiana, and the next closest is over 28 miles away
  • Lakeview Regional Medical Center is located less than 2 miles from the property, spurring local demand for medical services, thereby benefitting the Maxem Health Urgent Care center
Listing Contacts
Peter Bauman
Peter Bauman
SVP, Capital Markets
+65 3159 4021
AZ - SA647389000 NV-186153
Buff Teague
Buff Teague
Vice President, Brokerage
+65 3159 4021
AL - 000083353-0 LA - 0995683037 MS - 21517 AL - 000083353-0 FL - BK3240964 TN - 346098
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