7809 Airline HwyMetairie, LA 70003

Property Details for 7809 Airline Hwy

Year built

2022

Property size (Sq ft)

103,506 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.

Location Insight

City

Metairie

County

Jefferson Parish

State

Louisiana

Latitude

29.9785

Longitude

-90.2213

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