Freestanding Auto Repair
For Sale
$1,850,000
Pending
3125 N CAUSEWAY Boulevard, Metairie, LA 70002
Existing automotive repair improvements with dedicated parking and a corner position near Lakeside Shopping Center.
Property Size4,560 SF
Lot Size0.25 Acres
Days on Market518
Property Features for 3125 N CAUSEWAY Boulevard
General Information
Standard status
Pending
Size
4,560 SF
Lot size
0.25 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
4,560 SF
Year Built
1972
Buildings
1
Listing Agency:
Compass Mandeville (COMP15)
(228) 216-8456
Listed By:
Herbert Dubuisson · License #995694311
Source:
Talbot-realty
Added: Mar 31, 2025
Changed: Aug 29
Last Checked: Jun 26 at 8:49PM
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 Compass Mandeville (COMP15)
Investment Insights
Based on property information with market context.
The property includes a 4,560-square-foot automotive repair facility on a 10,872-square-foot parcel. Built in 1972, the freestanding improvements were previously operated as a Meineke Car Care Center and include dedicated parking. The rectangular site measures approximately 0.25 acres and carries the BC-2 designation stated in the property information.
Located at 3125 N Causeway Boulevard in Metairie, the property occupies the southeast corner of N. Causeway Boulevard and 19th Street. It is across from Lakeside Shopping Center and near the Causeway Boulevard and Veterans Boulevard intersection, as well as the I-10 interchange. The site offers approximately 71 feet of frontage along N. Causeway Boulevard.
Located at 3125 N Causeway Boulevard in Metairie, the property occupies the southeast corner of N. Causeway Boulevard and 19th Street. It is across from Lakeside Shopping Center and near the Causeway Boulevard and Veterans Boulevard intersection, as well as the I-10 interchange. The site offers approximately 71 feet of frontage along N. Causeway Boulevard.
Key Highlights
- 4,560‑square‑foot automotive repair facility on a 10,872‑square‑foot parcel
- Previously operated as a Meineke Car Care Center
- Approximately 0.25 acres with a rectangular 72x151 lot
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
$57,130
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
3.09%
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%
$1,142,600
$1.1M
Cap Rate 7%
$816,143
$816.1K
Cap Rate 9%
$634,778
$634.8K
Market Conditions
NOI Build-Up for 4,560 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
$85.9K $18.84/SF
− Vacancy
−$4.3K −$0.94/SF
EGI
$81.6K $17.90/SF
− OpEx
−$24.5K −$5.37/SF
NOI
$57.1K $12.53/SF
Area
Metairie, LA
Vacancy
5.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$1,142,600
Cap Rate 7%
$816,143
Cap Rate 9%
$634,778
Alternative Uses
Best Use
Retail
$816.1K
$714.1K – $952.2K
NOI $57,130 @ 7.0% cap · market cap 3.09%
Second Best
Industrial
$782.8K
$685.0K – $913.3K
NOI $54,796 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.07M
$934.4K – $1.25M
NOI $74,749 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,794
Businesses Nearby
36k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 24%
Beauty & Spa 11%
Apparel 7%
Wendy's
Dining
18,407 visits/mo
0.2 miles
Circle K
Shops & Services
6,288 visits/mo
0.4 miles
My Salon Suite
Beauty & Spa
4,018 visits/mo
0.5 miles
Jos. A. Bank Clothiers Inc.
Apparel
2,344 visits/mo
0.2 miles
Kung Fu Tea
Dining
2,148 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Existing automotive repair improvements with dedicated parking and a corner position near Lakeside Shopping Center.
Where is this auto shop located?
The property is located at 3125 N CAUSEWAY Boulevard Metairie, LA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,560‑square‑foot automotive repair facility on a 10,872‑square‑foot parcel; Previously operated as a Meineke Car Care Center; Approximately 0.25 acres with a rectangular 72x151 lot
