7801-7945 Airline Dr - Storefront Retail/Office FOR SALE


Metairie, LA 70003
$12,281,000 USD
424-220-7244
7801-7945 Airline Dr, Metairie, LA for Sale
$12,281,000 USD
Storefront Retail/Office - FOR SALE
1/4
null | 8.75% Cap Rate

7801-7945 Airline Dr
Metairie, LA 70003


HIGHLIGHTS

  • 229,000 People and 97,000 Households within a 5-Mile Radius of the Property
  • 108,000 People and 45,000 Households within a 3-Mile Radius of the Property
  • $90,000 Estimated Household Income within a 5-mile radius, and $85,000 within a 3-Mile Radius
  • 4 Minute Drive to Louis Armstrong New Orleans International Airport with 12.7 Million Annual Passengers
  • 4.8 Year Retail WALT. Located on the main thoroughfare between the Airport and Downtown New Orleans
  • ±40,600 Vehicles Per Day pass the property on Airline Drive

OVERVIEW

BUILDING HIGHLIGHTS • In 2022 & 2023 Landlord Invested $5,400,000 in Capital Improvements • Brand New Roof installed in 2022 throughout the entire center • Parking lot improved with new asphalt in 2022 and restriped in 2024 • Brand New HVAC units as of 2022 throughout entire center • Brand New Elevator Mechanics, Remote Monitoring, and Renovated Cab as of 2022 • Brand New LED lighting and 4K Cameras with Remote Access throughout entire center • Ochsner Health System invested additional $3,800,000 into their buildout in 2022 TENANT HIGHLIGHTS • O’Reilly Auto Parts is an investment grade credit tenant (S&P BBB) with over 5,500+ locations throughout the country • Ochsner Health System is a leading healthcare provider with 46 hospitals and 370+ health and urgent care centers throughout the Gulf South • Take 5 Oil Change is a subsidiary of Driven Brands, Inc. (4,700 units with over $5.3B in system-wide sales) with over 800+ locations nationwide. Take 5 recently signed a 15-year ground lease agreement at M.A. Green Shopping Center • Cash America Pawn is a subsidiary of FirstCash Holdings, Inc., a publicly traded company with a $5.3 billion market cap and over 3,000 locations throughout the USA and South America • Metairie Bank is a regional bank with over $591 million in assets (2023) and 15 locations primarily throughout the Greater New Orleans area Donnie Jarreau License No. BROK.995704351-CORP (LA) (866) 889-0550 Jarreau Real Estate 16173 Perkins Road Baton Rouge, LA 70810

FOR SALE DETAILS

PRICE

$12,281,000 USD

PRICE/SF

$98 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

M.A. Green Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Restaurant, Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

400

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

0910006632

ASK ABOUT THIS PROPERTY

Joseph NelsonMatthews Real Estate Investment ServicesMore Info
424-220-7244

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Joseph NelsonMatthews Real Estate Investment ServicesMore Info
424-220-7244

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.