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 Market127
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
Listed By:
Brady Becker · License #9006927
(985) 703-1140
Source:
Elifinrealty
Added: Jun 16
Changed: Oct 13
Last Checked: Oct 19 at 4:55AM
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
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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 / Yr
$110,252
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Ever After Events — 3244 36th St, Metairie, LA 70001
- Villere's Florist — 750 Martin Behrman Ave, Metairie, LA 70005
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).
