For Sale
$12,281,000

7809 Airline HwyMetairie, LA 70003

High-yield, fully occupied retail center.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A, 103,506 square foot shopping center in Metairie, Louisiana, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong pro-forma cap rate of 8.75%, the property generates a substantial NOI of $1,074,566. Anchored by investment-grade tenants including O'Reilly Auto Parts and Take 5 Oil Change, the center benefits from a triple-net (NNN) lease structure and corporate guarantees, ensuring consistent cash flow. Built in 2022 and extensively renovated in 2022 and 2023, including a new roof, parking lot improvements, HVAC systems, elevator upgrades, LED lighting, and security cameras, this property requires minimal capital expenditure. The seven-eight units are spread across a single, three-story building, situated on Airline Highway, a major thoroughfare with approximately 140,600 vehicles passing daily. The property's prime location is a four-minute drive from Louis Armstrong New Orleans International Airport and enjoys a dense population within a five-mile radius (229,000 people, 97,000 households) with high average household incomes ($90,000 within 5 miles, $85,000 within 3 miles). The property includes rent bumps, further enhancing long-term return. This fee-simple ownership opportunity offers a stable, high-performing asset in a thriving market. APN: 0-92-0002225 & 0-91-0006632. Asking price: $12,281,000.

Highlights

  • $12,281,000 asking price for a stabilized Class A retail shopping center.
  • 103,506 square feet, 100% occupied, with a pro-forma cap rate of 8.75%.
  • Net lease (NNN) with credit-rated, corporate-guaranteed tenants.
  • Located at 7809 Airline Hwy, Metairie, LA 70003, offering excellent visibility and high traffic counts.
  • Recent capital improvements exceeding $5.4 million, including a new roof, parking lot improvements, HVAC systems, elevator upgrades, and LED lighting.

Property Details for 7809 Airline Hwy

Property type
Lifestyle centers, Power centers
Square Feet
103,506 SF
Class
A
Year Built/Renovated
2022/2022
Buildings
1
Stories
3
Units
78

Location Insight

City
Metairie
County
Jefferson Parish
State
Louisiana
Latitude
29.978518040898
Longitude
-90.221298662794
7809 Airline Hwy, Metairie, Louisiana

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7809 Airline Hwy
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