Corner Retail Redevelopment
1949 Veterans Memorial Boulevard Metairie, LA 70005
1949 Veterans Memorial Boulevard, Metairie, LA, 70005
Contact for pricing
For Sale
Contact for pricing
Corner retail property on Veterans Memorial Blvd with two buildings totaling 8,800 SF on 10.46 acres.
Property Size8,800 SF
Price / SF$352.27
Days on Market48
Property Features for 1949 Veterans Memorial Boulevard
General Information
- Standard status
- Active
- Size
- 8,800 SF
- Property subtype
- Retail, Mixed Use, Land
Listing agency
Elifin Realty - New Orleans, LA
(800) 895-9329
Listed by
Brady Becker · License #LA 9006927
Source
Crexi
Added: Jun 5 Updated: Jul 21 at 1:40AM Checked: Jul 21 at 1:40AM
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).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $165.8k | $18.84 |
| − Vacancy | −$8.3k | −$0.94 |
| EGI | $157.5k | $17.90 |
| − OpEx | −$47.3k | −$5.37 |
| NOI | $110.3k | $12.53 |
8,800 SF · lease $18.84/SF/yr · vacancy 5.00% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Fashion Tailors of Metairie
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Villere's Florist — 750 Martin Behrman Ave, Metairie, LA 70005
- Ever After Events — 3244 36th St, Metairie, LA 70001
FAQs
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 Veterans Memorial Boulevard 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).
