Transwestern National Net Lease | Sale Leaseback Group is pleased to present a dark Family Dollar store in an urban in-fill location in New Orleans, Louisiana. Although the store was closed in 2024, the current lease doesn’t expire until January 31, 2026, providing time for a buyer to re-lease or re-develop the Property to an alternative use and continue to collect rental income and the real estate tax and insurance reimbursements from Family Dollar.
Located at 11901 I-10 Service Road, just eleven miles from the French Quarter, the Property is situated at the Interstate 10 and Bullard Avenue four-way interchange and offers excellent visibility. The Property is next door to Premier Honda and Waffle House and across Bullard Avenue from a Comfort Suites Hotel and a Holiday Inn Express. Directly across the Interstate is a Walmart Supercenter and the nearby Home Depot in addition to numerous quick-serve restaurants and other retail. Furthermore, the Property is adjacent to extensive residential homes to the north.
New Orleans, Louisiana, often referred to as NOLA or the Big Easy, is a city like no other, a place where history, culture, and rhythm weave together to create a truly unique city. Nestled along the Mississippi River, this vibrant city pulses with a spirit that draws from its rich blend of French, Spanish, African, and Creole influences. Strolling through the French Quarter, you’re surrounded by the colorful architecture of iron-laced balconies, the smell of beignets, and the lively sound of jazz spilling from every corner.
With a population of 383,997 according to the 2020 Decennial Census of the United States Census Bureau, New Orleans is the most populous city in Louisiana, the third most in the Deep South and the twelfth-most in the southeastern United States. With the fifth busiest port in the U.S., the Port of New Orleans accommodated more than 81 million short tons of cargo volume in 2023.
Family Dollar is a wholly owned subsidiary of Dollar Tree, Inc. (NASDAQ: DLTR) having been acquired by Dollar Tree in July 2015. Dollar Tree is investment grade (S&P: BBB) with 2023 fiscal year sales of $30.6 billion. Dollar Tree’s gross profit was $9.3 billion with a gross margin of 31.5%. Net income for 2023 was $1.615 billion. Dollar Tree operates 16,340 stores across 48 states and five Canadian provinces as of January 28, 2023. There are nearly 600 operating Family Dollar Tree combination stores nationwide. Family Dollar is headquartered in Matthews, North Carolina.