Two-Story Retail Building
For Sale
Contact for pricing
6919 Veterans Memorial Boulevard, Metairie, LA 70003
Two-story retail building ready for custom build-out on Veterans.
Property Size6,000 SF
Price / SF$158.33
Days on Market105
Property Features for 6919 Veterans Memorial Boulevard
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Zoning
C2 General Commercial District
Building Details
Units
3
Listing Agency:
Elifin Realty - New Orleans, LA
(800) 895-9329
Listed By:
Brady Becker · License #LA 9006927
Source:
Crexi
Added: May 20
Changed: Aug 26
Last Checked: Aug 29 at 8:38PM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
For sale is a two-story retail building with approximately 6,000 square feet, containing three units. The property has been fully gutted and is ready for a custom build-out, making it ideal for multi-tenant retail, office, or mixed-use redevelopment. Positioned along Veterans Boulevard, which sees approximately 24,171 vehicles per day, the property benefits from strong visibility and immediate access to I-10. Nearby amenities include 7 Brew Coffee, Pickle N Pins, Surge Entertainment, Jazzercise, and Planet Fitness. The property is zoned C2 (General Commercial District).
Key Highlights
- ±6,000 SF two‑story retail building.
- Fully gutted and ready for custom build‑out.
- Ideal for multi‑tenant retail, office, or mixed‑use redevelopment.
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
$75,172
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
7.91%
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%
$1,503,440
$1.5M
Cap Rate 7%
$1,073,886
$1.1M
Cap Rate 9%
$835,244
$835.2K
Market Conditions
NOI Build-Up for 6,000 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
$113.0K $18.84/SF
− Vacancy
−$5.7K −$0.94/SF
EGI
$107.4K $17.90/SF
− OpEx
−$32.2K −$5.37/SF
NOI
$75.2K $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%
$1,503,440
Cap Rate 7%
$1,073,886
Cap Rate 9%
$835,244
Alternative Uses
Best Use
Retail
$1.07M
$939.7K – $1.25M
NOI $75,172 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,354 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 60%
Dining 34%
Electronics 5%
Shops & Services 2%
Marshalls
Apparel
34,989 visits/mo
0.5 miles
Fuji Sushi
Dining
7,342 visits/mo
0.4 miles
SUBWAY
Dining
4,904 visits/mo
0.5 miles
Domino's Pizza
Dining
2,930 visits/mo
0.4 miles
Papa John's Pizza
Dining
2,685 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail building ready for custom build-out on Veterans.
Where is this retail space located?
The property is located at 6919 Veterans Memorial Boulevard Metairie, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: ±6,000 SF two‑story retail building.; Fully gutted and ready for custom build‑out.; Ideal for multi‑tenant retail, office, or mixed‑use redevelopment.
