Vacant Nursing Home
For Sale
$2,500,000
6001 AIRLINE Drive, Metairie, LA 70003
Vacant former care facility with two generators and C-2 General Commercial / R-1A zoning.
Property Size23,000 SF
Lot Size1.30 Acres
Price / SF$108.70
Days on Market12
Property Features for 6001 AIRLINE Drive
General Information
Standard status
Active
Size
23,000 SF
Lot size
1.30 Acres
Property subtype
COMMERCIAL
Zoning
C-2 General Commercial / R-1A
Additional Details
Road Access
Yes
Amenities
generator
Building Details
Building Size
23,000 SF
Year Built
1980
Buildings
1
Listing Agency:
Homesmart Realty South
Listed By:
Patrick Roberts · License #000013877
(985) 377-1128
Source:
Burkbrokerage
Added: Sep 1
Changed: Sep 11
Last Checked: Sep 11 at 2:56PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
The vacant nursing home facility contains approximately 23,000 SF on approximately 1.3 acres and was built in 1980. The property includes two on-site generators: a 250 KW main generator and a 35KW natural gas backup generator. Building storage is also available.
Located at 6001 Airline Drive in Metairie, the property has frontage along Airline Drive with access to Metairie, New Orleans, and major transportation corridors. Zoning is identified as C-2 General Commercial / R-1A. Proposed adaptive-reuse applications include healthcare, assisted living, behavioral health, rehabilitation, medical, professional office, and institutional uses, subject to Jefferson Parish approval.
Located at 6001 Airline Drive in Metairie, the property has frontage along Airline Drive with access to Metairie, New Orleans, and major transportation corridors. Zoning is identified as C-2 General Commercial / R-1A. Proposed adaptive-reuse applications include healthcare, assisted living, behavioral health, rehabilitation, medical, professional office, and institutional uses, subject to Jefferson Parish approval.
Key Highlights
- Approximately 23,000 SF vacant former nursing home facility
- Approximately 1.3 acres with frontage along Airline Drive
- C‑2 General Commercial / R‑1A zoning
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
$214,038
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
8.56%
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%
$4,280,760
$4.3M
Cap Rate 7%
$3,057,686
$3.1M
Cap Rate 9%
$2,378,200
$2.4M
Market Conditions
NOI Build-Up for 23,000 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
$414.0K $18.00/SF
− Vacancy
−$24.8K −$1.08/SF
EGI
$389.2K $16.92/SF
− OpEx
−$175.1K −$7.61/SF
NOI
$214.0K $9.31/SF
Area
Metairie, LA
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$4,280,760
Cap Rate 7%
$3,057,686
Cap Rate 9%
$2,378,200
Alternative Uses
Best Use
Healthcare Medical
$4.37M
$3.83M – $5.10M
NOI $306,029 @ 7.0% cap · market cap 12.24%
Second Best
Apartment 5plus
$3.06M
$2.68M – $3.57M
NOI $214,038 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$5.39M
$4.71M – $6.28M
NOI $377,023 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70003, LA
40,068
Population
17,479
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
5,724
Density / Sq Mi
$76,151
Median Household Income
$45,102
Median Earnings
$1,191
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- St. Michaels Assisted Living — 314 Transcontinental Dr, Metairie, LA 70001
- CHU — 5201 W Metairie Ave, Metairie, LA 70001
Frequently Asked Questions
What type of property is this?
Nursing home - Vacant former care facility with two generators and C-2 General Commercial / R-1A zoning.
Where is this nursing home located?
The property is located at 6001 AIRLINE Drive Metairie, LA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Approximately 23,000 SF vacant former nursing home facility; Approximately 1.3 acres with frontage along Airline Drive; C‑2 General Commercial / R‑1A zoning
