Commercially Zoned
For Sale
$350,000
209 Kent Avenue, Metairie, LA 70001
Tenant-occupied property with two units in the main house and a separate third residence.
Property Size1,941 SF
Price / SF$180.32
Days on Market341
Property Features for 209 Kent Avenue
General Information
Standard status
Active
Size
1,941 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
3
Amenities
Central Air, Wall Unit(s)
Central, Wall Furnace
1
3
4
Screens
Asphalt, Other
Other
Pillar/Post/Pier, Slab: Traditional
Brick
Porch
Building Details
Year Built
1960
Listing Agency:
Sam Simeone Real Estate
(504) 282-3854
Listed By:
Sam Simeone · License #000010307
(504) 282-3854
Source:
Compass
Added: Sep 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:43PM
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 Sam Simeone Real Estate
Investment Insights
Based on property information with market context.
This tenant-occupied triplex includes a two-unit main house and a detached third unit, providing three residential living spaces within the property. The improvements total 1,941 square feet and date to 1960. Features include brick construction, porch space, asphalt and other exterior surfacing, pillar/post/pier and traditional slab foundations, and a combination of central air, wall units, central heat, and wall furnaces.
The property is located at 209 Kent Avenue in Metairie, Louisiana, and is identified as commercially zoned. The address is within the 70001 ZIP code. A separate property at 203 Kent is also available, with the two properties offered individually.
The property is located at 209 Kent Avenue in Metairie, Louisiana, and is identified as commercially zoned. The address is within the 70001 ZIP code. A separate property at 203 Kent is also available, with the two properties offered individually.
Key Highlights
- Triplex configuration with two units in the main house and a detached third unit
- 1,941 square feet of improvements
- Commercial zoning
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
$20,756
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
5.93%
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%
$415,120
$415.1K
Cap Rate 7%
$296,514
$296.5K
Cap Rate 9%
$230,622
$230.6K
Market Conditions
NOI Build-Up for 1,941 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
$31.4K $16.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$29.7K $15.28/SF
− OpEx
−$8.9K −$4.58/SF
NOI
$20.8K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$415,120
Cap Rate 7%
$296,514
Cap Rate 9%
$230,622
Alternative Uses
Best Use
Multifamily LT 5
$296.5K
$259.5K – $345.9K
NOI $20,756 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$258.0K
$225.8K – $301.1K
NOI $18,063 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$454.5K
$397.7K – $530.3K
NOI $31,817 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied property with two units in the main house and a separate third residence.
Where is this triplex located?
The property is located at 209 Kent Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex configuration with two units in the main house and a detached third unit; 1,941 square feet of improvements; Commercial zoning
