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Building Details

Buildings 1

Building Size 7,000 SF

Tenancy Single

Owner Occupied No

Listing Agency: Max J Derbes Inc

Listed By: A Benjamin Derbes Show Phone

Source: Lacdb.resimplifi

Added: Apr 17, 2025 Changed: Oct 12 Last Checked: Oct 14 at 7:35PM

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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 approximately 7,000-square-foot office building includes retail functionality and occupies an approximately 16,750-square-foot parcel. The property provides access and parking from the rear through Quincy Street, complementing its frontage along Veterans Memorial Boulevard. A roof coating was completed 7 years ago and remains covered by warranty.

The building is positioned on Veterans Memorial Boulevard between Transcontinental Drive and the Interstate crossover in Metairie. Parcel dimensions are approximately 50 feet along Veterans Memorial Boulevard and 110 feet along Quincy Street. The existing occupant has used the property for almost 18 years, with the current lease scheduled to expire in April 2024.

Key Highlights

• Approximately 7,000 sq. ft. office/retail building
• Approximately 16,750 sq. ft. land area
• 50' frontage on Veterans Memorial Boulevard and 110' on Quincy Street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$84,168

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,683,360 $1.7M

Cap Rate 7%

$1,202,400 $1.2M

Cap Rate 9%

$935,200 $935.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$140.3K $20.04/SF

− Vacancy

−$28.1K −$4.01/SF

EGI

$112.2K $16.03/SF

− OpEx

−$28.1K −$4.01/SF

NOI

$84.2K $12.02/SF

Area

Metairie, LA

Vacancy

20.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,683,360

Cap Rate 7%

$1,202,400

Cap Rate 9%

$935,200

Alternative Uses

Best Use

Retail

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,700 @ 7.0% cap · market cap 1,169.33%

Second Best

Office B

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,168 @ 7.0% cap · market cap 1,122.24%

Theoretical Best

Office A

$1.64M

$1.43M – $1.91M (±1% cap)

NOI $114,746 @ 7.0% cap · market cap 1,529.95%

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

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency (Bike/Boat/Book/etc) Store Grocery & Convenience Store Acupuncture Nursing Home Daycare Center

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

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,092

Businesses Nearby

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Office and retail improvements offer supplemental access and parking from the rear via Quincy Street.

Where is this office building located?

The property is located at 5250 VETERANS MEMORIAL BLVD Metairie, LA.

What are key features of this property?

This property features: Approximately 7,000 sq. ft. office/retail building; Approximately 16,750 sq. ft. land area; 50' frontage on Veterans Memorial Boulevard and 110' on Quincy Street