M.A. Green Shopping Center | 7801-7945 Airline Dr
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M.A. Green Shopping Center 7801-7945 Airline Dr
103,506 SF 100% Leased Retail Building Metairie, LA 70003 £9,609,269 (£93/SF) 8.75% Net Initial Yield
Investment Highlights
- 229,000 People and 97,000 Households within a 5-Mile Radius of the Property
- $90,000 Estimated Household Income within a 5-mile radius, and $85,000 within a 3-Mile Radius
- 4.8 Year Retail WALT. Located on the main thoroughfare between the Airport and Downtown New Orleans
- 108,000 People and 45,000 Households within a 3-Mile Radius of the Property
- 4 Minute Drive to Louis Armstrong New Orleans International Airport with 12.7 Million Annual Passengers
- ±40,600 Vehicles Per Day pass the property on Airline Drive
Executive Summary
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
• 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
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
103,506 SF
Building Class
B
Year Built/Renovated
2022/2023
Price
£9,609,269
Price Per SF
£93
Net Initial Yield
8.75%
NOI
£840,794
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Parking
400 Spaces (3.86 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Bus Route
- Corner Lot
- Property Manager on Site
- Pylon Sign
- Restaurant
- Security System
- Tenant Controlled HVAC
- Drive Thru
- Storage Space
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0910006632 | Improvements Assessment | £426,216 |
| Land Assessment | £108,377 | Total Assessment | £534,593 |
PROPERTY TAXES
Parcel Number
0910006632
Land Assessment
£108,377
Improvements Assessment
£426,216
Total Assessment
£534,593
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M.A. Green Shopping Center | 7801-7945 Airline Dr
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