Renovated Shopping Center with NNN
For Sale
$3,250,000
5029 Veterans Memorial Blvd, Metairie, LA 70006
C-2 retail center includes a vacant suite, updated exterior improvements, and direct rear access.
Property Size15,005 SF
Price / SF$216.59
Days on Market340
Property Features for 5029 Veterans Memorial Blvd
General Information
Standard status
Active
Size
15,005 SF
Total Parking Spaces
47
Property subtype
Retail
Zoning
C-2
Additional Details
Road Access
Yes
Amenities
47 Parking Spaces
Building Details
Year Built
1960
Year Renovated
2014
Listing Agency:
SRSA Commercial Real Estate
(504) 451-0095
Listed By:
Stephanie Boyd
(504) 451-0095
Source:
Lacdb.resimplifi
Added: Sep 24, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:37PM
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 SRSA Commercial Real Estate
Investment Insights
Based on property information with market context.
This 15,005-square-foot shopping center was built in 1960 and received a major exterior renovation in 2014. Improvements included stucco, stone, and glass finishes, refreshed landscaping, an updated awning, parking repairs, and elastomeric roof coating. The property includes a vacant suite, NNN leases, prominent signage, and a 47-space off-street parking area.
The center fronts Veterans Memorial Blvd with 158 feet of frontage and sits 200 feet from the intersection with Transcontinental Dr. Two ingress and egress points support access from the corridor, while Yale St provides direct rear access. The property is zoned C-2 and located in Flood Zone A-E. Existing leases, a vacant suite, and the physical improvements provide a defined configuration for continued retail occupancy and re-tenanting.
The center fronts Veterans Memorial Blvd with 158 feet of frontage and sits 200 feet from the intersection with Transcontinental Dr. Two ingress and egress points support access from the corridor, while Yale St provides direct rear access. The property is zoned C-2 and located in Flood Zone A-E. Existing leases, a vacant suite, and the physical improvements provide a defined configuration for continued retail occupancy and re-tenanting.
Key Highlights
- 15,005‑square‑foot shopping center built in 1960
- Major exterior renovation completed in 2014
- 158 feet of frontage on Veterans Memorial Blvd
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
$187,992
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
5.78%
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%
$3,759,840
$3.8M
Cap Rate 7%
$2,685,600
$2.7M
Cap Rate 9%
$2,088,800
$2.1M
Market Conditions
NOI Build-Up for 15,005 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
$282.7K $18.84/SF
− Vacancy
−$14.1K −$0.94/SF
EGI
$268.6K $17.90/SF
− OpEx
−$80.6K −$5.37/SF
NOI
$188.0K $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 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%
$3,759,840
Cap Rate 7%
$2,685,600
Cap Rate 9%
$2,088,800
Alternative Uses
Best Use
Retail
$2.69M
$2.35M – $3.13M
NOI $187,992 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,966 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70006, LA
16,540
Population
6,645
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
6,362
Density / Sq Mi
$74,049
Median Household Income
$42,120
Median Earnings
$1,206
Median Rent
$333,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mall Conference RM — 4436 Veterans Memorial Blvd, Metairie, LA 70006
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- Coin Cloud Bitcoin ATM — 5920 veterans mem. blvd, ste 102, metairie, la 70003
- Continental Plaza Shopping Center — 5010 Veterans Memorial Blvd, Metairie, LA 70006
- Mark Kiosk LLC. — 3100 LA-3152, Metairie, LA 70006
Frequently Asked Questions
What type of property is this?
Shopping center - C-2 retail center includes a vacant suite, updated exterior improvements, and direct rear access.
Where is this shopping center located?
The property is located at 5029 Veterans Memorial Blvd Metairie, LA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 15,005‑square‑foot shopping center built in 1960; Major exterior renovation completed in 2014; 158 feet of frontage on Veterans Memorial Blvd
