Flex Office/Warehouse
For Sale
$565,000
1604 METRO Drive, Alexandria, LA 71301
Half of the building is office space with glass-partition rooms, with the rear used as heated and cooled warehouse/storage.
Property Size5,114 SF
Price / SF$110.48
Days on Market414
Property Features for 1604 METRO Drive
General Information
Standard status
Active
Size
5,114 SF
Property subtype
General Commercial
Additional Details
Office Units
11
Amenities
lobby
reception area
copy room
conference room
full bath
half bath
full surveillance
3
COM
Parking.
Lot.
Irregular
.42
Irregular.
Building Details
Year Built
1985
Listing Agency:
STEVEN SEALE PROPERTIES, LLC
(318) 445-3359
Listed By:
Steven Seale · License #0912124868
(318) 715-3333
Source:
Xome
Added: Jul 22, 2025
Changed: Sep 2
Last Checked: Sep 8 at 5:05AM
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 STEVEN SEALE PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This flex-style building is currently configured as approximately half office and half warehouse. The front portion includes 11 glass-partition offices, a lobby and reception area, a copy room, conference room, and full and half bathrooms. The rear portion is wide-open warehouse/storage space with a 72" metal French door and a 36" metal back door. The building has heating and cooling throughout, with the exception of the front porch, and it includes full surveillance. A large sign pole is on site (the sign will be removed).
Located at 1604 Metro Drive in Alexandria, the property is described as being in a high-traffic area off MacArthur Drive and Jackson St.
The glass walls at the front can be removed to create a larger open area, or the rear could be built out to add office space similar to the current front layout.
Located at 1604 Metro Drive in Alexandria, the property is described as being in a high-traffic area off MacArthur Drive and Jackson St.
The glass walls at the front can be removed to create a larger open area, or the rear could be built out to add office space similar to the current front layout.
Key Highlights
- 1985‑built commercial building with half office space and half warehouse/storage space
- Front office area includes 11 glass‑partition offices plus lobby, reception, copy room, conference room, and full + half baths
- Rear warehouse/storage is heated and cooled and currently used as wide‑open storage with a 72 in metal front door and a 36 in metal back door
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
$38,406
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
6.80%
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%
$768,120
$768.1K
Cap Rate 7%
$548,657
$548.7K
Cap Rate 9%
$426,733
$426.7K
Market Conditions
NOI Build-Up for 5,114 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
$48.5K $9.48/SF
− Vacancy
−$3.3K −$0.64/SF
EGI
$45.2K $8.84/SF
− OpEx
−$6.8K −$1.33/SF
NOI
$38.4K $7.51/SF
Area
Rapides County, LA
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$768,120
Cap Rate 7%
$548,657
Cap Rate 9%
$426,733
Alternative Uses
Best Use
Office B
$1.03M
$897.5K – $1.20M
NOI $71,801 @ 7.0% cap · market cap 12.71%
Second Best
Warehouse
$548.7K
$480.1K – $640.1K
NOI $38,406 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,680 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
Location Intelligence
Trade Area within ½ mile
1,270
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71301, LA
20,454
Population
9,173
Households
2.2
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
12.5 sq mi
ZIP Area
1,636
Density / Sq Mi
$44,330
Median Household Income
$31,233
Median Earnings
$919
Median Rent
$156,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Half of the building is office space with glass-partition rooms, with the rear used as heated and cooled warehouse/storage.
Where is this flex space located?
The property is located at 1604 METRO Drive Alexandria, LA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1985‑built commercial building with half office space and half warehouse/storage space; Front office area includes 11 glass‑partition offices plus lobby, reception, copy room, conference room, and full + half baths; Rear warehouse/storage is heated and cooled and currently used as wide‑open storage with a 72 in metal front door and a 36 in metal back door
