Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Seq Veterans Blvd & David Dr Metairie, LA 70003

    • Retail properties
    • 226,844 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Seq Veterans Blvd & David Dr

    Year built
    1975
    Property size
    226,844 SF
    Property type
    Retail properties

    Description

    Magnolia Shopping Center, located at the southeast quadrant of Veterans Boulevard and David Drive in Metairie, Louisiana (zip code 70003), presents a compelling investment opportunity. This 226,844 square foot retail center, built in 1975, comprises five single-story buildings with a total of six suites. The property boasts 900 parking spaces and is conveniently situated near Lafreniere Park, offering excellent accessibility from I-10 and major Metairie arteries including West Napoleon Avenue and Power Boulevard. The center benefits from a strong tenant mix, including established businesses and recent additions such as Planet Fitness, O'Reilly Auto Parts, Ochsner 65 Plus, and Pickle N Pins. Surge Entertainment is also relocating within the center. Construction is underway for a new Chipotle on one of the outparcels. Recent improvements have enhanced the property's appeal, encompassing parking lot and lighting upgrades, façade enhancements, landscaping improvements, and refurbished pylon signage. The center is situated in a densely populated residential area, making it an ideal location for a variety of retail businesses. The property's cross street is David Dr., and it's located in Jefferson Parish County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.2204
    Latitude
    30.0054

    Comparable in this City

    • Value Estimation by Request
      2,625 SF

      7143 Veterans Memorial Blvd

      Neighborhood centers • 2,625 SF
      7143 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • Value Estimation by Request

      6851 Veterans Memorial Blvd

      Individual retail properties
      6851 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • Value Estimation by Request
      99,647 SF

      6601 Veterans Memorial Blvd

      Neighborhood centers • 99,647 SF
      6601 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • Value Estimation by Request
      103,506 SF

      7809 Airline Hwy

      Lifestyle centers • 103,506 SF
      7809 Airline Hwy, Metairie, LA 70003
      View Details
    • Value Estimation
      $250,000
      0.27 Acres

      1309 Dilton St

      APARTMENT HOUSE (5+ UNITS) • 0.27 Acres
      1309 Dilton St, Metairie, LA 70003-6261
      View Details
    • Value Estimation
      $950,000
      0.14 Acres

      116 Marguerite Rd

      APARTMENT HOUSE (5+ UNITS) • 0.14 Acres
      116 Marguerite Rd, Metairie, LA 70003-2466
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,767 SF

      Metairie Strip Center For Sale

      Two-story strip center available on Veterans Boulevard in Metairie.
      8814 Veterans Blvd, Metairie, LA 70003
      View Details
    • $6,900,000
      1,500 SF

      Retail Opportunity on Veterans Boulevard

      33,069 SF retail space in Metairie, Louisiana.
      8814 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • $119,900

      Cleared Lot Ready For Construction

      Vacant land in Metairie, LA, ready for new construction.
      212 Trudeau Dr, Metairie, LA 70003
      View Details
    • New
      $185,000
      1,150 SF

      Red Brick Duplex Investment Property

      Well-maintained duplex with updated plumbing and ample parking in Metairie.
      211 Grove Ave, Metairie, LA 70003
      View Details
    • $125,000
      0.19 Acres

      Oversized Vacant Lot in Metairie

      Large lot in established neighborhood with endless possibilities.
      Faun St, Metairie, LA 70003
      View Details
    • $258,000
      1,905 SF

      Metairie Duplex: Investment Opportunity

      Duplex in Metairie with owner-occupant or investment potential.
      506 N Elm St, Metairie, LA 70003
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      28,500 SF

      Retail Space on Veterans Blvd

      28,500 square feet of retail space available for lease.
      7119 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • $18 SF/Yr
      99,647 SF

      Lafreniere Plaza Retail Space

      Prime Metairie retail space available.
      6601 Veterans Memorial Blvd, Metairie, LA 70003
      View Details
    • $4 SF/Yr
      5,000 SF

      Veterinary Clinic with Additional Building

      Equipped veterinary clinic with potential for expansion or renovation.
      313-315 David Dr, Metairie, LA 70003
      View Details
    • $22 SF/Yr
      673 SF

      Office Space in Park-Like Setting

      Office complex with green space and convenient highway access.
      6660 Riverside Dr, Metairie, LA 70003
      View Details
    • $22 SF/Yr
      4,107 SF

      Riverside Park Office Space Available

      Office complex with green space and convenient I-10 access.
      6620 Riverside Dr, Metairie, LA 70003
      View Details
    • $22 SF/Yr
      89,596 SF

      Metairie Office Park Investment

      Two-building office complex, prime location.
      6620-6660 Riverside Dr, Metairie, LA 70003
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Seq Veterans Blvd & David Dr
    Metairie, LA 70003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.