Harbor Marketplace
3810 Highway 22 Mandeville , LA 70471

Harbor Marketplace - retail for sale

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Overview



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
General
Property type Retail
Tenure type Sale/Purchase
Property address 3810 Highway 22, Mandeville, LA 70471-7328
Land in acres 0.59
Building size 4,700  ft2
Year built 2018
Financial
Price $3,109,375
Cap rate 6.40%
Current NOI $199,000.00
Lease
Tenant's name Chipotle Mexican Grill, Incorporated
Lease type NN
Annual rent $99,000.00
Lease expiration date 10/31/2029
Remaining term 10Yrs

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