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Views: 118 DOM: 303 Updated: 07.26.24 Posted: 01.23.24 Status: Active 01.23.24

Summary

Price $5,032,260
Built/Renov 2006
Tenant Cox Communications
Cap Rate 10.00%
Lease Type NN+
Guarantor Corp Rated
Size/SF 14,848
Lease Start 04-27-2007
#Units 125
Price/SF $338.92
Expiration 10-31-2028
Tenant Type Tel/Cell
NOI $503,226
R. Term 3.11
Ownership Fee Simple
Rent/SF $33.89
Increases 10.0%/5/yrs
Pop 5Mi 304,177
Lot/AC 1.37
Options 2/5yrs/10%
AHHI 5Mi $83,937

Lease Highlights

  • Cox Communications has a 16+ year operating history at this location
  • Cox recently extended its lease for an additional 5 years, moving the lease expiration date to October 31st, 2028
  • Favorable NN+ lease with landlord responsible for maintaining structure
  • Corporate guaranteed lease
  • Cox Communications is an investment grade tenant (S&P: BBB)

Location Description

The Property is located immediately off Interstate 610 (75,150+ VPD) and is 0.50 miles north of Interstate 10 (81,000+ VPD), two major interstates which lead directly to downtown New Orleans and Louis Armstrong International Airport. These are two of the city’s most heavily trafficked roads, making this an outstanding location with high connectivity, tremendous visibility, and easy access. In...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Cox Communications (aka “Cox Cable”) is an American provider of digital cable television, telecommunications and home automation services. It is the third-largest cable television provider, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,615 126,894 297,933
2023 Total Population : 18,950 127,790 299,931
2023 Employed Civilian Pop : 6,818 59,683 142,256
2023 Total Businesses : 532 9,397 17,802
2023 Average Household Income : $ 45,283 $ 74,915 $ 83,275
2023 Total Consumer Spending : $ 328 M $ 3901 M $ 9791 M
2023 Median Age : 38 39 38
2023 Total Households : 8,222 59,515 134,664
2023 Pop Age 25+: Bachelor's Degree : 2,105 22,386 50,391
2023 Average Home Value : $ 253,855 $ 366,433 $ 394,978
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mandeville St Benefit St 2001 71,186 0.11 mi
Elysian Fields Ave Agriculture St 2008 31,354 0.14 mi
I 610 Saint Roch Ave 2021 89,951 0.17 mi
I 610 Touro St 2021 92,309 0.27 mi
LA 3021 Florida Ave 2021 33,750 0.34 mi
I- 10 Florida Ave 2010 81,517 0.35 mi
I 10 Benefit St 2021 97,335 0.35 mi
I- 610 Saint Anthony Ave 2008 59,253 0.35 mi
Elysian Fields Ave Saint Denis St 2010 28,479 0.37 mi
US 90 Humanity St 2021 13,248 0.50 mi

Listing Broker

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