Metairie Office/Warehouse Facility For
For Sale
Contact for pricing
101 Airline Dr, Metairie, LA 70001
42,500 SF office/warehouse on 2.52 acres in Metairie.
Property Size42,500 SF
Lot Size2.52 Acres
Price / SF$140
Days on Market150
Property Features for 101 Airline Dr
General Information
Standard status
Active
Size
42,500 SF
Lot size
2.52 Acres
Property subtype
Office, Industrial
Zoning
C-2
Building Details
Stories
2
Listing Agency:
Lee & Associates Louisiana
(985) 373-3814
Listed By:
Bill Sanders · License #995681354
Source:
Crexi
Added: Mar 16
Changed: Aug 9
Last Checked: Aug 11 at 4:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates Louisiana
Investment Insights
Based on property information with market context.
The former Atmos Energy facility in Metairie is available for sale. The property includes approximately 42,500 square feet of improvements, featuring 32,000 square feet of two-story office space and 10,500 square feet of enclosed warehouse space, along with a 6,700 square foot lean-to structure. Situated on a 2.52-acre site, the property offers ample yard area suitable for outdoor storage, equipment staging, or fleet parking. The facility is equipped with 480V, 3-phase power and one overhead crane. The property benefits from C-2 General Commercial zoning, allowing for a wide range of commercial and industrial uses. The property provides access to Interstate 10, enabling connectivity throughout the New Orleans metro area and regional transportation corridors. The site backs up to Metairie Country Club, offering a setting within the Metairie submarket.
Key Highlights
- Excellent access to Interstate 10 for convenient regional connectivity.
- 42,500 square feet of improvements, including office and warehouse space.
- 2.52‑acre site with ample yard area for outdoor storage, equipment staging, or fleet parking.
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
$511,020
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
8.59%
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%
$10,220,400
$10.2M
Cap Rate 7%
$7,300,286
$7.3M
Cap Rate 9%
$5,678,000
$5.7M
Market Conditions
NOI Build-Up for 42,500 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
$851.7K $20.04/SF
− Vacancy
−$170.3K −$4.01/SF
EGI
$681.4K $16.03/SF
− OpEx
−$170.3K −$4.01/SF
NOI
$511.0K $12.02/SF
Area
Metairie, LA
Vacancy
20.00%
Lease Rate
$20.04 /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%
$10,220,400
Cap Rate 7%
$7,300,286
Cap Rate 9%
$5,678,000
Alternative Uses
Best Use
Warehouse
$8.86M
$7.75M – $10.34M
NOI $620,143 @ 7.0% cap · market cap 10.42%
Second Best
Office B
$7.30M
$6.39M – $8.52M
NOI $511,020 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$9.95M
$8.71M – $11.61M
NOI $696,672 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 42,500 SF office/warehouse on 2.52 acres in Metairie.
Where is this flex space located?
The property is located at 101 Airline Dr Metairie, LA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Excellent access to Interstate 10 for convenient regional connectivity.; 42,500 square feet of improvements, including office and warehouse space.; 2.52‑acre site with ample yard area for outdoor storage, equipment staging, or fleet parking.
