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Property profile

3200 Severn Ave Metairie, LA 70002

OFF-MARKET
Retail properties & Spaces
20,000 SF Built 1975
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Property summary

AI-generated overview

This exceptional 1,330-square-foot retail space, located at 3200 Severn Ave, Suite 120, Metairie, LA 70002, is available for lease. Situated in a vibrant neighborhood strip center within the New Orleans metro area, this Class B property offers a prime location with high visibility. The suite, part of a larger 20,000-square-foot building, boasts a recent 2023 renovation, including a complete overhaul following Hurricane Ida, ensuring modern infrastructure and updated amenities. The space features high ceilings, a first floor and mezzanine, several offices, a kitchenette, and two and a half bathrooms. Previously used as a lash retail shop, this versatile space is ideal for a variety of retail businesses. The property includes ample parking with 66 spaces available. The building is zoned Fat City BC 2 and sits on a 36,000-square-foot lot. Annual property taxes are $2.10 per square foot. The property is served by Entergy power. This thriving center is home to a diverse mix of established businesses, including The Eye Dr, Merle Norman Cosmetics, Nola Crepe, Salon Eight 13, UBreakIFix, Pink Pepper Gift Shop, Skin Care Pharmacy, Sal's Music, and NailsRUs, creating a strong synergy and high foot traffic. The lease rate is $25.00 per square foot, NNN. The space will be available November 1, 2024.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1975
Total area 20,000 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant Take-out & Catering
  • Nail Salon
  • Tech Support Center (Bike/Boat/Book/etc) Store
  • Home Appliance Store
  • Marketing & Advertising IT Consulting Firm

Location

3200 Severn Ave Metairie, LA 70002
Metairie metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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