NNN Specialty Pharmacy
For Sale
$1,750,000
3044 Ridgelake Dr, Metairie, LA 70002
Specialized pharmacy improvements occupy a 6,468-square-foot commercial building on a 14,400-square-foot land area.
Property Size6,468 SF
Lot Size0.33 Acres
Price / SF$270.56
Days on Market83
Property Features for 3044 Ridgelake Dr
General Information
Standard status
Active
Size
6,468 SF
Lot size
0.33 Acres
Property subtype
Investment
Zoning
BC2
Additional Details
Asking Price
$1,750,000
Building Details
Year Renovated
2022
Tenancy
Single
Listing Agency:
Max J Derbes Inc
(504) 733-4555
Listed By:
A Derbes
(504) 733-4555
Source:
Lacdb.resimplifi
Added: Jun 10
Changed: Aug 29
Last Checked: Aug 30 at 1:15PM
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 Max J Derbes Inc
Investment Insights
Based on property information with market context.
This NNN investment property comprises a 6,468-square-foot commercial building on 14,400 square feet of land in Metairie, Louisiana. The facility has been occupied by IV Services, Inc., doing business as Genefic Specialty Pharmacy, since October 2020, with improvements tailored to specialty pharmacy and infusion operations. The property is zoned BC2, and the roof was replaced in 2022.
The asset is positioned within Metairie’s office and retail market in the New Orleans MSA. Lease economics include a 6.1% cap rate for Years 1-3, increasing to 6.22% in Year 4 and 6.34% in Year 5. Dalrada Technology Group, OTC: DHTI, is identified as the tenant’s parent company.
The asset is positioned within Metairie’s office and retail market in the New Orleans MSA. Lease economics include a 6.1% cap rate for Years 1-3, increasing to 6.22% in Year 4 and 6.34% in Year 5. Dalrada Technology Group, OTC: DHTI, is identified as the tenant’s parent company.
Key Highlights
- 6,468 SF commercial building on 14,400 SF of land
- NNN lease structure with 6.1% cap rate for Years 1‑3
- Cap rate increases to 6.22% in Year 4 and 6.34% in Year 5
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
$95,002
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
5.43%
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%
$1,900,040
$1.9M
Cap Rate 7%
$1,357,171
$1.4M
Cap Rate 9%
$1,055,578
$1.1M
Market Conditions
NOI Build-Up for 6,468 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
$131.9K $20.40/SF
− Vacancy
−$5.3K −$0.82/SF
EGI
$126.7K $19.58/SF
− OpEx
−$31.7K −$4.90/SF
NOI
$95.0K $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 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%
$1,900,040
Cap Rate 7%
$1,357,171
Cap Rate 9%
$1,055,578
Alternative Uses
Best Use
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,002 @ 7.0% cap · market cap 5.43%
Second Best
Retail
$1.16M
$1.01M – $1.35M
NOI $81,035 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$1.51M
$1.33M – $1.77M
NOI $106,025 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,794
Businesses Nearby
36k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 24%
Beauty & Spa 11%
Apparel 7%
Wendy's
Dining
18,407 visits/mo
0.2 miles
Circle K
Shops & Services
6,288 visits/mo
0.4 miles
My Salon Suite
Beauty & Spa
4,018 visits/mo
0.5 miles
Jos. A. Bank Clothiers Inc.
Apparel
2,344 visits/mo
0.2 miles
Kung Fu Tea
Dining
2,148 visits/mo
0.5 miles
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Specialized pharmacy improvements occupy a 6,468-square-foot commercial building on a 14,400-square-foot land area.
Where is this nnn property located?
The property is located at 3044 Ridgelake Dr Metairie, LA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 6,468 SF commercial building on 14,400 SF of land; NNN lease structure with 6.1% cap rate for Years 1‑3; Cap rate increases to 6.22% in Year 4 and 6.34% in Year 5
