Corner Retail Redevelopment
For Sale
$3,100,000
1949 1955 Veterans Memorial Blvd, Metairie, LA 70005
Corner retail property on Veterans Memorial Blvd with two buildings totaling 8,800 SF on 10.46 acres.
Property Size8,800 SF
Days on Market78
Property Features for 1949 1955 Veterans Memorial Blvd
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Retail
Building Details
Building Size
8,800 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(985) 703-1140
Listed By:
Brady Becker · License #955716500
(985) 703-1140
Source:
Elifinrealty
Added: Jun 16
Changed: Aug 26
Last Checked: Aug 31 at 12:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
This for-sale retail property offers 8,800 SF across two buildings measuring 7,100 SF and 1,700 SF. The site is positioned on a corner with frontage along Veterans Memorial Blvd, providing strong visibility within a retail corridor. The property includes a mix of short-term tenants and vacant space, creating flexibility for a redevelopment or repositioning plan. More than 50% of the parcel is currently stabilized, which can help reduce immediate capital expenditures.
The property sits on a 10.46-acre parcel and is described as having approximately 25,310 annual average daily traffic based on the provided remarks. Surrounding retail includes Trader Joe’s, Whole Foods Market, Rouses, and the Lakeside Shopping Center, supporting a strong base of consumer activity in the area.
The property sits on a 10.46-acre parcel and is described as having approximately 25,310 annual average daily traffic based on the provided remarks. Surrounding retail includes Trader Joe’s, Whole Foods Market, Rouses, and the Lakeside Shopping Center, supporting a strong base of consumer activity in the area.
Key Highlights
- Corner retail redevelopment opportunity on Veterans Memorial Blvd: 8,800 SF total across two buildings (7,100 SF and 1,700 SF).
- Set on 0.46 acres, positioned on a corner site fronting Veterans Memorial Blvd.
- Average daily traffic of 25,310 and strong visibility along a premier retail corridor (as stated).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$110,252
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,205,040
$2.2M
Cap Rate 7%
$1,575,029
$1.6M
Cap Rate 9%
$1,225,022
$1.2M
Market Conditions
NOI Build-Up for 8,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$165.8K $18.84/SF
− Vacancy
−$8.3K −$0.94/SF
EGI
$157.5K $17.90/SF
− OpEx
−$47.3K −$5.37/SF
NOI
$110.3K $12.53/SF
Area
Metairie, LA
Vacancy
5.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,205,040
Cap Rate 7%
$1,575,029
Cap Rate 9%
$1,225,022
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,252 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,252 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,013
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner retail property on Veterans Memorial Blvd with two buildings totaling 8,800 SF on 10.46 acres.
Where is this storefront property located?
The property is located at 1949 1955 Veterans Memorial Blvd Metairie, LA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Corner retail redevelopment opportunity on Veterans Memorial Blvd: 8,800 SF total across two buildings (7,100 SF and 1,700 SF).; Set on 0.46 acres, positioned on a corner site fronting Veterans Memorial Blvd.; Average daily traffic of 25,310 and strong visibility along a premier retail corridor (as stated).
