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    2240 Veterans Memorial Blvd Kenner, LA 70062
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    Property profile & analytics

    2240 Veterans Memorial Blvd, Kenner, LA 70062

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    • Lifestyle centers
    • 7,440 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Aspen Dental - Kenner, LA / Dental Office
    • Chedly Vincent / Dental Office
    • Motto Clear Aligners / Dental Office
    • Christina Smith / Dental Office
    • Dr. Candice St. Etienne / Dental Office

    Property Details for 2240 Veterans Memorial Blvd

    Year built
    2017
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 7,440 square foot retail center, built in 2017, presents a compelling investment opportunity in Kenner, Louisiana. Located at 2240 Veterans Memorial Blvd, this single-story building boasts a prime location adjacent to a newly constructed Chick-fil-A, benefiting from the high traffic volume of approximately 70,000 vehicles daily at the intersection of Veterans and Williams Boulevards. The property features three units currently occupied by a strong tenant roster including Firehouse Subs, AT&T, and Aspen Dental, ensuring a stable income stream. The C-2 zoning allows for a variety of uses, enhancing the property's long-term value. Situated in a densely populated area with 123,792 people within a three-mile radius, this center offers excellent visibility and accessibility. Its proximity to the New Orleans International Airport further strengthens its strategic position within the market. The high-quality construction and creditworthy tenants make this a low-maintenance, passive income investment ideal for discerning buyers. The asking price for this turnkey property is $5,550,000. This property is classified as Hospitality, Retail, with subtypes including QSR/Fast Food, Restaurant, and Shopping Center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kenner
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.2367
    Latitude
    30.0067

    Comparable in this City

    • Value Estimation by Request
      10,090 SF

      1220 Veterans Blvd

      Lifestyle centers
      1220 Veterans Blvd, Kenner, LA 70062
      View Details
    • Value Estimation by Request
      9,780 SF

      331 Veterans Memorial Blvd

      Neighborhood centers
      331 Veterans Memorial Blvd, Kenner, LA 70062
      View Details
    • Value Estimation by Request
      10,090 SF

      1222 Veterans Memorial Blvd

      Automotive properties
      1222 Veterans Memorial Blvd, Kenner, LA 70062
      View Details
    • Value Estimation by Request
      35,439 SF

      2217 Veterans Blvd

      Individual retail properties
      2217 Veterans Blvd, Jefferson, LA 70062
      View Details
    • Value Estimation by Request
      2,400 SF

      2307 Marietta St

      Automotive properties
      2307 Marietta St, Kenner, LA 70062
      View Details
    • Value Estimation by Request
      13,467 SF

      2600 Williams Blvd

      Individual retail properties
      2600 Williams Blvd, Kenner, LA 70062
      View Details

    Similar Nearby for Sale

    • $5,995,999

      Two-Story Shopping Center in Kenner

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      Land For Sale

      Land available for sale in Kenner, Louisiana.
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      Land For Sale, Kenner, LA

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      Corner Lots Near Airport

      Commercial zoned vacant land near the airport in Kenner, Louisiana.
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    Similar Nearby for Lease

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      Prime Veterans Blvd Ground Lease

      35,439 SF ground lease opportunity on Veterans Blvd.
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    • $15,000 /Mo
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      High-Visibility Car Lot with Office

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      Mixed-Use Building in Rivertown District

      Two-story mixed-use building with warehouse, retail, and apartment.
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      Versatile Commercial Space Available

      Second-story commercial space suitable for various business types.
      2728 Decatur St, Kenner, LA 70062
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      Office Building on Veterans Memorial

      Office building with high visibility on Veterans Memorial Blvd.
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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.

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