Two-Tenant Retail
New
For Sale
$1,150,000
2200 DAVID Drive, Metairie, LA 70003
Commercial, Metairie, LA
Property Size2,830 SF
Lot Size0.34 Acres
Price / SF$406.36
Days on Market4
Property Features for 2200 DAVID Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TCMU
Subdivision
Lelia Place
Lot features
Regular
Standard status
Active
APN
8
Size
2,830 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
Lot 11-A, Square 5
Legal Description
Lot 11-A, Square 5
Utilities
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Listing Agency:
Realty One Group Immobilia
(504) 405-3211
Listed By:
Monica Iacono
(504) 251-8647
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 26 at 5:06AM
MLS# 2578571
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The one-story retail building contains 2,830 square feet on a 14,621-square-foot, 0.34-acre site and is configured as two suites. Unit A measures approximately 1,509 square feet and includes a customer area, service counter, two restrooms, and a rear office and preparation area. PJ’s Coffee has occupied the suite since 2008. Unit B comprises approximately 1,321 square feet, with an open salon area, hair-wash station, restroom, storage, office or break room, and laundry facilities. The same salon has occupied this suite since 2008. The property was built in 2008 and is zoned TCMU.
At the corner of David Drive and West Napoleon Avenue in Metairie, the site has approximately 107 feet of frontage on David Drive and approximately 112 feet on West Napoleon Avenue.
At the corner of David Drive and West Napoleon Avenue in Metairie, the site has approximately 107 feet of frontage on David Drive and approximately 112 feet on West Napoleon Avenue.
Key Highlights
- Two retail suites in a one‑story, 2,830‑square‑foot building
- 14,621‑square‑foot site totaling 0.34 acres
- Unit A is approximately 1,509 square feet; occupied by PJ’s Coffee since 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,567
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$831,340
$831.3K
Cap Rate 7%
$593,814
$593.8K
Cap Rate 9%
$461,856
$461.9K
Market Conditions
NOI Build-Up for 2,830 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.7K $20.40/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$55.4K $19.58/SF
− OpEx
−$13.9K −$4.90/SF
NOI
$41.6K $14.69/SF
Area
Metairie, LA
Vacancy
4.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$831,340
Cap Rate 7%
$593,814
Cap Rate 9%
$461,856
Alternative Uses
Best Use
Specialty Retail
$593.8K
$519.6K – $692.8K
NOI $41,567 @ 7.0% cap · market cap 3.61%
Second Best
Retail
$506.5K
$443.2K – $590.9K
NOI $35,456 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$662.7K
$579.9K – $773.2K
NOI $46,390 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 86%
Electronics 14%
PJ's Coffee of New Orleans
Dining
5,210 visits/mo
0.1 miles
SUBWAY
Dining
4,904 visits/mo
0.1 miles
Domino's Pizza
Dining
2,930 visits/mo
0.1 miles
Papa John's Pizza
Dining
2,685 visits/mo
0.3 miles
Pizza Hut
Dining
1,902 visits/mo
0.1 miles
Demographics for 70003, LA
40,068
Population
17,479
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
5,724
Density / Sq Mi
$76,151
Median Household Income
$45,102
Median Earnings
$1,191
Median Rent
$255,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Corner positioning, two separate suites, and existing retail build-outs define this Metairie property.
Where is this retail space located?
The property is located at 2200 DAVID Drive Metairie, LA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two retail suites in a one‑story, 2,830‑square‑foot building; 14,621‑square‑foot site totaling 0.34 acres; Unit A is approximately 1,509 square feet; occupied by PJ’s Coffee since 2008
