11-Unit Office Investment
2305 N Hullen St, Metairie, LA 70001
For Sale
$895,000
An 11-unit office property offers combined suites and off-street parking in a business core district setting.
Property Size6,228 SF
Price / SF$143.71
Days on Market142
Property Features for 2305 N Hullen St
General Information
Standard status
Size
Zoning
Site & Location
Neighborhood
Additional Details
Office Units
Building Details
Year Built
Listing Agency:
Homesmart Realty South
Listed By:
Maureen Matthews · License #000008926
(504) 610-6522
Source:
Dominionplace
Added: Jun 19
Changed: Oct 26
Last Checked: Oct 7 at 1:21PM
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 Homesmart Realty South
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Investment Insights
Based on property information with market context.
This for-sale commercial property includes 11 office units within a single investment building. Several of the units are currently combined, creating larger office configurations. The improvements are listed at approximately 6,228 square feet post Ida, and the lot is approximately 8,150 square feet.
The property is located in an area described as having high density and intensity development along principal thoroughfares. It is zoned BC-2, Business Core District. The surrounding mix is described as office, retail, and service uses.
For tenants and buyers, the multi-unit setup and combined suites can support a range of office occupancy needs, from smaller teams to larger groups that benefit from consolidated space. Off-street parking is provided on the property, and the BC-2 zoning supports continued commercial use within an established office and retail/service environment.
The property is located in an area described as having high density and intensity development along principal thoroughfares. It is zoned BC-2, Business Core District. The surrounding mix is described as office, retail, and service uses.
For tenants and buyers, the multi-unit setup and combined suites can support a range of office occupancy needs, from smaller teams to larger groups that benefit from consolidated space. Off-street parking is provided on the property, and the BC-2 zoning supports continued commercial use within an established office and retail/service environment.
Key Highlights
- 11‑unit office/investment property with several suites currently combined
- Zoned BC‑2, Business Core District
- Approximately 6,228 SF of improvements post Ida
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,885
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,700
$1.5M
Cap Rate 7%
$1,069,786
$1.1M
Cap Rate 9%
$832,056
$832.1K
Market Conditions
NOI Build-Up for 6,228 SF
Gross rent
$124.8K $20.04/SF
− Vacancy
−$25.0K −$4.01/SF
EGI
$99.8K $16.03/SF
− OpEx
−$25.0K −$4.01/SF
NOI
$74.9K $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%
$1,497,700
Cap Rate 7%
$1,069,786
Cap Rate 9%
$832,056
Alternative Uses
Best Use
Office B
$1.07M
$936.1K – $1.25M
NOI $74,885 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,091 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
11
Office units
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
$313,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Metairie, LA
Properties on Market for Office Units in Metairie
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - An 11-unit office property offers combined suites and off-street parking in a business core district setting.
Where is this office unit located?
The property is located at 2305 N Hullen St Metairie, LA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 11‑unit office/investment property with several suites currently combined; Zoned BC‑2, Business Core District; Approximately 6,228 SF of improvements post Ida
