8814 Veterans Memorial Blvd
33,069 SF 100% Leased Retail Building Metairie, LA 70003 $6,900,000 ($209/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Great Investment Opportunity!
EXECUTIVE SUMMARY
The McEnery Company is pleased to offer for sale: 8814 Veterans Memorial Boulevard, a 33,069-square-foot retail opportunity in Metairie, Louisiana. The retail center is located along Veterans Memorial Boulevard, the premiere retail corridor in the region, boasting immediately proximate national retailers Wal-Mart, Home Depot, Academy Sports + Outdoors, and many more. The property is being offered at a 6% capitalization rate. There is immediate value-add potential through lease up of two (2) current vacancies, improved operational efficiencies, and renegotiation of gross leases, yielding a potential 7.8% unlevered return.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
33,069 SF
Building Class
B
Year Built
1990
Price
$6,900,000
Price Per SF
$209
Cap Rate
6%
NOI
$414,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
9’
Building FAR
0.42
Lot Size
1.79 AC
Zoning
C2
Parking
122 Spaces (3.69 Spaces per 1,000 SF Leased)
Frontage
282 FT on Veterans Memorial Blvd
AMENITIES
- Signage
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0910011629 | Improvements Assessment | $395,070 |
| Land Assessment | $384,660 | Total Assessment | $779,730 |
