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    851 Airline Dr Kenner, LA 70062

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    For Sale
    Contact for pricing

    3.26 Acres Near Louis Armstrong Airport

    Property Features for 851 Airline Dr

    General Information

    Property type
    Land
    Lot Size
    142,006 SF

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    Listing Contact
    Paul Gilmore
    Paul Gilmore

    Listing Agency: Paul Gilmore & Associates, Inc. Listing Agent: Paul Gilmore

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 3.26-acre commercial land parcel presents a unique investment opportunity in Kenner, Louisiana. Strategically located directly across Airline Drive from Louis Armstrong New Orleans International Airport, this property boasts 205 feet of frontage on Airline Drive, providing excellent visibility and accessibility. The site features an existing asphalt surface parking lot with subsurface drainage and perimeter fencing, reflecting its recent use as Amazon delivery truck parking. Improvements include a roughly 500-square-foot metal building and a 40-square-foot security guard station. The property is zoned S1 (Special Industrial), which also permits a wide range of C-2 General Commercial uses. These permitted uses include, but are not limited to, auto sales, boat sales, auto repair, bakeries, arenas/auditoriums, warehouses, broadcast stations, mini-storage facilities, and taxi cab companies. The combination of prime location, existing infrastructure, and flexible zoning makes this property ideal for a variety of commercial ventures. The asking price is $2,999,000. The property's address is 851 Airline Drive, Kenner, LA 70062, within Jefferson Parish. This is a for-sale-by-owner listing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Car Rental 24 ... Car Rental Facility

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kenner
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.25967663211
    Latitude
    29.982878396971

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    FAQs

    What type of property is this?
    Land - 3.26 Acres Near Louis Armstrong Airport
    Where is this land located?
    The property is located at 851 Airline Dr Kenner, LA.
    What is the asking price?
    The asking price for this property is $2,999,000.
    What are key features of this property?
    This property features: 3.26-acre commercial land parcel in Kenner, LA.; 205 feet of frontage on Airline Drive, directly across from Louis Armstrong New Orleans International Airport.; Existing asphalt parking lot, subsurface drainage, and perimeter fencing.
    (504) 456-1234 Call to check price and availability
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    851 Airline Dr Kenner, LA 70062
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    Kenner, LA 70062
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    851 Airline Dr Kenner, LA 70062
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    Contact for Pricing
    Please call us for current price
    and status of this listing Paul Gilmore
    Paul Gilmore
    Real Estate License ID: 000039244
    (504) 456-1234
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