Retail Space with Dual
For Sale
$1,600,000
7505 Airline Dr, Metairie, LA 70003
Retail property with dual access points and available pylon signage, supported by reported 30,983 daily vehicles.
Property Size9,180 SF
Days on Market37
Property Features for 7505 Airline Dr
General Information
Standard status
Active
Size
9,180 SF
Property subtype
Retail
Building Details
Building Size
9,180 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(225) 955-8546
Listed By:
Noah Loveland · License #955716500
(225) 955-8546
Source:
Elifinrealty
Added: Jul 27
Changed: Aug 31
Last Checked: Aug 31 at 2:54PM
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 retail property offers dual access and available pylon signage, supporting strong street-level visibility for commercial tenants. The site is positioned to provide straightforward ingress and egress for day-to-day operations.
The property is reported to see approximately 30,983 vehicles per day and offers access from Airline Hwy and N Elm St. Nearby retailers include O’Reilly Auto Parts, Bridge House Super Thrift Store, and other surrounding businesses.
For prospective tenants and buyers, the combination of reported traffic volume, two-way access, and signage capability provides a functional retail setting in a broader retail mix.
The property is reported to see approximately 30,983 vehicles per day and offers access from Airline Hwy and N Elm St. Nearby retailers include O’Reilly Auto Parts, Bridge House Super Thrift Store, and other surrounding businesses.
For prospective tenants and buyers, the combination of reported traffic volume, two-way access, and signage capability provides a functional retail setting in a broader retail mix.
Key Highlights
- Reported 30,983 vehicles per day daily traffic counts
- Dual access from Airline Hwy and N Elm St
- Pylon signage available
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
$115,013
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
7.19%
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%
$2,300,260
$2.3M
Cap Rate 7%
$1,643,043
$1.6M
Cap Rate 9%
$1,277,922
$1.3M
Market Conditions
NOI Build-Up for 9,180 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
$173.0K $18.84/SF
− Vacancy
−$8.6K −$0.94/SF
EGI
$164.3K $17.90/SF
− OpEx
−$49.3K −$5.37/SF
NOI
$115.0K $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%
$2,300,260
Cap Rate 7%
$1,643,043
Cap Rate 9%
$1,277,922
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $115,013 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,481 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,394 visits/mo
0.1 miles
Cash America
Shops & Services
3,037 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
1,802 visits/mo
0.4 miles
Demographics for 70003, LA
40,068
Population
17,479
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
5,724
Density / Sq Mi
$76,151
Median Household Income
$45,102
Median Earnings
$1,191
Median Rent
$255,300
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?
Retail space - Retail property with dual access points and available pylon signage, supported by reported 30,983 daily vehicles.
Where is this retail space located?
The property is located at 7505 Airline Dr Metairie, LA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Reported 30,983 vehicles per day daily traffic counts; Dual access from Airline Hwy and N Elm St; Pylon signage available
