Renovated Metairie Commercial/Office
For Sale
$490,000
2882 Cleary Ave, Metairie, LA 70002
Recently renovated commercial/office building in a high-traffic Metairie location.
Property Size1,820 SF
Price / SF$269.23
Days on Market320
Property Features for 2882 Cleary Ave
General Information
Standard status
Active
Size
1,820 SF
Class
B
Property subtype
Office
Building Details
Building Size
1,820 SF
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
Listed By:
Reed Wiley, CCIM · License #LA #BROK.995704349-ASA
(504) 236-7816
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 6
Last Checked: Oct 5 at 4:26PM
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 NAI Rampart Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
Located at 2882 Cleary Ave in Metairie, LA, this 1,820 square foot commercial/office property offers an investment opportunity. The building features two units and is zoned GENERAL COMMERCIAL DISTRICT C-2, allowing for a multitude of uses including office and retail. Situated on a 2,724 square foot lot, the stand-alone building provides off-street parking. The property is positioned at the base of the heavily trafficked Cleary Avenue overpass. Renovations were completed as of 2018. The property has 3-phase power. The GENERAL COMMERCIAL DISTRICT C-2 zoning is composed of land and structures used for retailing goods and furnishing major services, serving a greater population with a wider range of services. The zoning is intended to serve an economic function and is generally located along major thoroughfares.
Key Highlights
- Prime location in the thriving Metairie business district at the base of the heavily trafficked Cleary Avenue overpass.
- Zoned GENERAL COMMERCIAL DISTRICT C‑2, allowing for a multitude of uses including office and retail.
- Recently renovated office improvements of ±1,820 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,884
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,680
$437.7K
Cap Rate 7%
$312,629
$312.6K
Cap Rate 9%
$243,156
$243.2K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$36.5K $20.04/SF
− Vacancy
−$7.3K −$4.01/SF
EGI
$29.2K $16.03/SF
− OpEx
−$7.3K −$4.01/SF
NOI
$21.9K $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 Rate 5%
$437,680
Cap Rate 7%
$312,629
Cap Rate 9%
$243,156
Alternative Uses
Best Use
Office B
$312.6K
$273.6K – $364.7K
NOI $21,884 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.2K
$372.9K – $497.2K
NOI $29,834 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Recently renovated commercial/office building in a high-traffic Metairie location.
Where is this office building located?
The property is located at 2882 Cleary Ave Metairie, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Prime location in the thriving Metairie business district at the base of the heavily trafficked Cleary Avenue overpass.; Zoned GENERAL COMMERCIAL DISTRICT C‑2, allowing for a multitude of uses including office and retail.; Recently renovated office improvements of ±1,820 SF.
