Old Metairie Triple NET For Sale

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30365192
Property Subtypes: Restaurant, Other
Status: Pending/Contingent
Building Size (RSF): 6,760 SF
Gross Building Area: See Agent
Gross Land Area: 0.31 Acres
Sale Price: $1,200,000
Unit Price: $177.51 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/23/2019

Overview / Comments

• In the heart of Old Metairie next to Old Metairie Village shopping center.
• Neighborhood restaurant with seventeen and a half years of uninterrupted leasing.
• Second floor residence offered for first time. 1,680 SF Rental rate would include all utilities as paid by first floor tenant.
• First floor tenant, 5,080 SF has 2 1/2 years remaining on current term, with one five-year option available at prevailing market rates.
• Restaurant tenant pays all utilities, all taxes and all insurance- a true triple net lease.
• Restaurant tenant current rent is $59,664.
• Market rental for 2nd floor apartment (three bedrooms, one bath, kitchen, living and dining room with all utilities paid is approximately $1,500 per month or $18,000 annually. Some improvements needed.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Zoning: C2
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Largest Nearby Street: Metairie Road
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Roof Type: Hip
Total Parking Spaces: 20
Parking Type: Surface
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL
Zoning Description: C2
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,904 159,581 364,327
Median Age: 45.22 38.57 38.41
Households: 6,294 69,374 160,391


Photograph of Listing Agent

David Porter

Monarch Realty Group Metairie, LA 70001
LACDB Member
Photograph of Listing Agent

Tom Bookhardt

United Real Estate Partners, LLC Metairie, LA 70001
LACDB Member
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