Available Properties
Dark Dollar General – Metairie, LA
- 7505 Airline Drive, Metairie, LA 70003
Listing Broker
Corbin Montpas
- corbin@amcreis.com
- (586) 200-0041
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Property Details
- Sale Price:
- Cap rate:
- Term Remaining:
- Lease Type:
- Lease Guarantee:
- $1,599,200
- 9.5%
- 0.6 Year
- Absolute NNN
- Credit Rated, Corporate Guarantee
Highlights
- Corporate-guaranteed income during repositioning. Although the store is currently dark, the lease is guaranteed by Dollar General Corporation (NYSE: DG), an investment-grade tenant rated BBB by S&P, through January 2027. The guaranty is backed by the corporate entity rather than store-level operations, providing a credit-supported income stream while ownership secures a replacement tenant or use.
- Infill location with broad re-tenanting appeal. The site sits along Airline Drive in a densely developed section of Metairie, with approximately 36,000 vehicles per day, signalized access, and 231,000 residents within five miles. National retailers including Walmart, Home Depot, Chick-fil-A, Raising Cane's, and Walgreens operate nearby, supporting strong demand to backfill the space whether or not it remains a Dollar General.
- Signalized hard corner. The property occupies the corner of Airline Drive (US-61) and N. Elm Street, with a traffic signal and crosswalk at the intersection and access from both streets. It offers full visibility to 31,000-36,000 vehicles per day on Airline Drive and convenient ingress and egress - attributes valued by drive-thru and retail tenants. Hard-corner sites are difficult to replicate and typically lease faster than mid-block alternatives.
- Over 231,000 residents and 97,000 households sit within five miles, with average household income of $92,390 - above the typical Dollar General profile. That mix of density and middle-class spending power supports steady retail demand and a broad pool of replacement tenants.
Sale Description
AMC Real Estate Investment Services is pleased to present a single-tenant Dollar General at 7505 Airline Drive in Metairie, Louisiana. The 9,100-SF building sits on roughly 0.985 acres and is net-leased to Dollar General, backed by a corporate guaranty from Dollar General Corporation (NYSE: DG). The store is currently dark, but the guaranty remains in place through lease expiration in January 2027, providing credit-supported income while a replacement tenant or use is identified.
The property fronts Airline Drive (U.S. Highway 61), a major divided arterial running from New Orleans toward Baton Rouge that parallels Interstate 10 through Jefferson Parish. The corridor connects directly to I-10 and Louis Armstrong New Orleans International Airport, and has recently drawn renewed commercial investment along the Metairie segment.
Metairie is the largest community in Jefferson Parish and, with a 2020 population of 143,507, the fifth-largest census-designated place in the U.S.—if incorporated, it would rank as Louisiana’s fourth-largest city. It sits within the New Orleans-Metairie MSA, home to roughly 1.0 million residents.
Jefferson Parish is the retail hub of the New Orleans metro, with the region’s largest concentration of middle-class residents supporting steady neighborhood retail demand. This offering lets investors acquire a net-leased asset in a dense, infill suburban market backed by a corporate-guaranteed lease—a defensive addition to a net-lease portfolio.
Location
Demographics
| Radius from site | population | average income |
|---|---|---|
|
3 Mile |
111,310 |
$87,817 |
|
5 Mile |
231,544 |
$92,390 |
|
10 Mile |
532,168 |
$94,817 |
