Rouses Market Grocery
2900 Veterans Memorial Blvd, Metairie, LA 70002
For Sale
Contact for pricing
The property is subject to a long-term Absolute NNN lease with no landlord responsibilities.
Property Size52,592 SF
Price / SF$267.01
Days on Market20
Property Features for 2900 Veterans Memorial Blvd
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Listing Agency:
The Lennox/Massell Companies LA
Listed By:
T. Griffin Lennox · License LA #0995697308
Source:
Crexi
Added: Oct 21
Changed: Nov 8
Last Checked: Nov 8 at 4:29PM
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 The Lennox/Massell Companies LA
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Rouses Market occupies a 52,592-square-foot grocery property at 2900 Veterans Memorial Blvd in Metairie, Louisiana. The offering is for the fee-simple interest in the asset, which is leased on a long-term Absolute NNN basis with no landlord responsibilities.
Key Highlights
- 52,592‑square‑foot grocery property
- Long‑term Absolute NNN lease
- Fee‑simple interest offered for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$772,471
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,449,420
$15.4M
Cap Rate 7%
$11,035,300
$11.0M
Cap Rate 9%
$8,583,011
$8.6M
Market Conditions
NOI Build-Up for 52,592 SF
Gross rent
$1.07M $20.40/SF
− Vacancy
−$42.9K −$0.82/SF
EGI
$1.03M $19.58/SF
− OpEx
−$257.5K −$4.90/SF
NOI
$772.5K $14.69/SF
Area
Metairie, LA
Vacancy
4.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,449,420
Cap Rate 7%
$11,035,300
Cap Rate 9%
$8,583,011
Alternative Uses
Best Use
Specialty Retail
$11.04M
$9.66M – $12.87M
NOI $772,471 @ 7.0% cap · market cap 5.50%
Second Best
Retail
$9.41M
$8.24M – $10.98M
NOI $658,904 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$12.32M
$10.78M – $14.37M
NOI $862,103 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,949
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- 金城发 — 40361, 2712 N Arnoult Rd, Metairie, LA 70002
- American Breading & Spice Corporation — 2720 Athania Pkwy, Metairie, LA 70002
- Golden City Asian Food Market — 2712 N Arnoult Rd, Metairie, LA 70002
- Rouses Market — 2900 Veterans Memorial Blvd, Metairie, LA 70002
- Breaux Mart Metairie — 2904 Severn Ave, Metairie, LA 70002
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - The property is subject to a long-term Absolute NNN lease with no landlord responsibilities.
Where is this grocery and convenience store located?
The property is located at 2900 Veterans Memorial Blvd Metairie, LA.
What is the asking price?
The asking price for this property is $14,042,537.
What are key features of this property?
This property features: 52,592‑square‑foot grocery property; Long‑term Absolute NNN lease; Fee‑simple interest offered for sale
