Single-Tenant Dollar General
For Sale
$1,600,000
7505 Airline Dr, Metairie, LA 70003
Single-tenant Dollar General building fronts Airline Drive and is net-leased with a corporate guaranty through January 2027.
Property Size9,180 SF
Lot Size0.99 Acres
Price / SF$175.82
Days on Market65
Property Features for 7505 Airline Dr
General Information
Standard status
Active
Size
9,180 SF
Lot size
0.99 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
9.5%
Building Details
Building Size
9,180 SF
Tenancy
Single
Listed By:
Noah Loveland
(225) 955-8546
Source:
Elifinrealty
Added: Jul 3
Changed: Sep 3
Last Checked: Sep 5 at 6:30AM
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 Noah Loveland
Investment Insights
Based on property information with market context.
The offering is a single-tenant Dollar General retail building totaling 9,100 square feet, situated on approximately 0.985 acres. The property is currently dark, and the lease is net-leased to Dollar General with a corporate guaranty from Dollar General Corporation. The guaranty remains in place through lease expiration in January 2027.
The site fronts Airline Drive (U.S. Highway 61), a major divided arterial that connects directly to I-10 and Louis Armstrong New Orleans International Airport, and the Metairie segment has seen renewed commercial investment.
This is a corporate-guaranteed, net-leased retail asset in an infill suburban retail corridor in Metairie, within the New Orleans–Metairie MSA.
The site fronts Airline Drive (U.S. Highway 61), a major divided arterial that connects directly to I-10 and Louis Armstrong New Orleans International Airport, and the Metairie segment has seen renewed commercial investment.
This is a corporate-guaranteed, net-leased retail asset in an infill suburban retail corridor in Metairie, within the New Orleans–Metairie MSA.
Key Highlights
- Single‑tenant Dollar General building built in 2012 and totaling 9,100 SF
- Sits on roughly 0.985 acres and fronts Airline Drive (U.S. Highway 61)
- Net‑leased to Dollar General with a corporate guaranty from Dollar General Corporation (NYSE: DG)
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
$133,661
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
8.35%
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%
$2,673,220
$2.7M
Cap Rate 7%
$1,909,443
$1.9M
Cap Rate 9%
$1,485,122
$1.5M
Market Conditions
NOI Build-Up for 9,100 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
$185.6K $20.40/SF
− Vacancy
−$7.4K −$0.82/SF
EGI
$178.2K $19.58/SF
− OpEx
−$44.6K −$4.90/SF
NOI
$133.7K $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 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%
$2,673,220
Cap Rate 7%
$1,909,443
Cap Rate 9%
$1,485,122
Alternative Uses
Best Use
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,661 @ 7.0% cap · market cap 8.35%
Second Best
Retail
$1.63M
$1.43M – $1.90M
NOI $114,010 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,170 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,394 visits/mo
0.1 miles
Cash America
Shops & Services
3,037 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
1,802 visits/mo
0.4 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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-tenant Dollar General building fronts Airline Drive and is net-leased with a corporate guaranty through January 2027.
Where is this grocery and convenience store located?
The property is located at 7505 Airline Dr Metairie, LA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Single‑tenant Dollar General building built in 2012 and totaling 9,100 SF; Sits on roughly 0.985 acres and fronts Airline Drive (U.S. Highway 61); Net‑leased to Dollar General with a corporate guaranty from Dollar General Corporation (NYSE: DG)
