Building Details

Year Renovated 2022

Tenancy Single

Listing Agency: Max J Derbes Inc

Listed By: A Benjamin Derbes Show Phone

Source: Lacdb.resimplifi

Added: Jun 10 Changed: Oct 9 Last Checked: Oct 14 at 7:48PM

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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.

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 / Yr

$95,002

Cap Rate

5.76%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $95,002 @ 7.0% cap · market cap 5.76%

Second Best

Retail

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $81,035 @ 7.0% cap · market cap 4.91%

Theoretical Best

Office A

$1.51M

$1.33M – $1.77M (±1% cap)

NOI $106,025 @ 7.0% cap · market cap 6.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Causeway Medical Clinic Medical Clinic

Suggested Use

Top Pick Building Supply Storage Facility Auto Parts Store Big Box & Wholesale Store Garden Center Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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 $1,650,000.

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