Brick Live-Work Space with
New
For Sale
$255,000
2209 ATHANIA Parkway, Metairie, LA 70001
COMMERCIAL - Metairie, LA
Property Size1,682 SF
Price / SF$151.61
Days on Market2
Property Features for 2209 ATHANIA Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BC2
Parking features
Garage
Lot features
Regular
Standard status
Active
APN
0820020324
Size
1,682 SF
Taxes and HOA fees
Tax Description
LOT 125 SQ 14 ATHANIA ADD #2 10026782 10555031
Legal Description
LOT 125 SQ 14 ATHANIA ADD #2 10026782 10555031
Utilities
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Listing Agency:
NOLA Real Estate 4-U, LLC
(504) 304-9597
Listed By:
Sandra Bondi
(504) 858-4136
Added: Aug 10
Last Checked: Aug 11 at 7:06PM
MLS# 2571697
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,682-square-foot live-work property combines a three-bedroom, two-bathroom layout with commercial-use flexibility. Built in 1965, the all-brick structure features original oak flooring, solid construction, a double-slab foundation, and an attached garage. Public water service is in place.
Located at 2209 Athania Parkway in Metairie, the property is zoned BC2, or Business Core District. That designation supports a range of office, retail, service, and residential applications, allowing the building to accommodate either a business, a residence, or a combination of both. The property was used residentially and did not flood during Katrina.
Located at 2209 Athania Parkway in Metairie, the property is zoned BC2, or Business Core District. That designation supports a range of office, retail, service, and residential applications, allowing the building to accommodate either a business, a residence, or a combination of both. The property was used residentially and did not flood during Katrina.
Key Highlights
- 1,682‑square‑foot live‑work property with a three‑bedroom, two‑bathroom layout
- BC2 zoning supports office, retail, service, and residential uses
- All‑brick building constructed in 1965
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
$20,436
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
8.01%
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%
$408,720
$408.7K
Cap Rate 7%
$291,943
$291.9K
Cap Rate 9%
$227,067
$227.1K
Market Conditions
NOI Build-Up for 1,682 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
$36.3K $21.60/SF
− Vacancy
−$3.6K −$2.16/SF
EGI
$32.7K $19.44/SF
− OpEx
−$12.3K −$7.29/SF
NOI
$20.4K $12.15/SF
Area
Metairie, LA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$408,720
Cap Rate 7%
$291,943
Cap Rate 9%
$227,067
Alternative Uses
Best Use
Mixed Use
$291.9K
$255.5K – $340.6K
NOI $20,436 @ 7.0% cap · market cap 8.01%
Second Best
Office B
$288.9K
$252.8K – $337.1K
NOI $20,224 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$393.9K
$344.7K – $459.5K
NOI $27,572 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,961
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 Office 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?
Live-work space - BC2 zoning supports office, retail, service, and residential uses in a flexible live-work setting.
Where is this live-work space located?
The property is located at 2209 ATHANIA Parkway Metairie, LA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,682‑square‑foot live‑work property with a three‑bedroom, two‑bathroom layout; BC2 zoning supports office, retail, service, and residential uses; All‑brick building constructed in 1965
