Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    259 Papworth Ave Metairie, LA 70005

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Three units with rehab potential near Metairie Road and interstate.

    Lot size:
    0.07 Acres

    Property Features for 259 Papworth Ave

    General Information

    Standard status
    Active
    Lot size
    0.07 Acres
    Exterior features
    Porch, Shingle
    Interior features
    Window Unit, Window Unit(s)

    Building Details

    Year built
    1958

    We can help!

    Listing Contact
    April Brown
    Source: Kw

    Listing Agent: April Brown

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Multi-Unit Property with Rehab Potential

    This multi-unit property, located in the 70005 area, presents an investment opportunity. It features three efficiency units, each with an individual electric meter, and a shared gas and water meter. Units A and B, situated in the main structure, have a new roof, updated plumbing, and repaired and painted wood siding. Rear Unit C is gutted to the studs, offering possibilities for a studio, guest suite, or expanded living space. The property could be converted back into a single-family home. The property size is 1242 square feet. The property has access to Metairie Road and the interstate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.1272465
    Latitude
    29.9900284

    Nearby Similar for Sale

    • $649,000
      4,145 SF

      Turn Key Metairie Office Building

      Updated office building near Clearview with I-10 visibility.
      4713 Utica St, Metairie, LA 70006
      View Details
    • New
      $599,000
      1,993 SF

      Metairie Triplex with Oversized Garage

      Triplex in Old Metairie near Canal St jogging path.
      504 Nursery Ave, Metairie, LA 70005
      View Details
    • $375,000
      2,450 SF

      Metairie Duplex: Investment Opportunity

      Income-producing duplex with two units, spacious backyard, and covered parking.
      3939-3941 Bauvais St, Metairie, LA 70001
      View Details
    • $280,000
      1,682 SF

      Metairie Mixed-Use Property For Sale

      Mid-century property in Metairie zoned for residential or commercial use.
      2209 Athania Pkwy, Metairie, LA 70001
      View Details
    • $525,000
      3,911 SF

      Metairie Fourplex in Pontchartrain Shores

      Fully leased fourplex in a desirable Metairie residential neighborhood.
      4712 Belle Dr, Metairie, LA 70006
      View Details
    • New
      $699,000
      2,912 SF

      Charming Cottage in Old Metairie

      Updated cottage on oversized lot with income potential.
      510 Nursery Ave, Metairie, LA 70005
      View Details
    • Contact for pricing
      2,100 SF

      Metairie Office Space on Veterans

      Highly visible office space with flexible layout on Veterans Blvd.
      3848 Veterans Blvd, Metairie, LA 70002
      View Details
    • $400,000
      2,408 SF

      Metairie Duplex with Income Potential

      Turnkey Metairie duplex, renovated unit, desirable location, income potential.
      641-643 Aurora Ave, Metairie, LA 70005
      View Details
    • $1,295,000
      7,860 SF

      Metairie Apartment Building For Sale

      Gated apartment complex in high-demand Metairie location.
      2609 Transcontinental Dr, Metairie, LA 70001
      View Details
    • $255,000
      1,905 SF

      Metairie Duplex: Investment Opportunity

      Fully rented duplex in Metairie, generating $2,600 monthly income.
      506 N Elm St, Metairie, LA 70003
      View Details
    • $149,000
      950 SF

      Metairie Office Condominium For Sale

      Ground floor office condominium in Metairie, near Haynes Academy.
      4323 Division St, Metairie, LA 70002
      View Details
    • $490,000

      Renovated Metairie Commercial/Office Building

      Recently renovated commercial/office building in a high-traffic Metairie location.
      2882 Cleary Ave, Metairie, LA 70002
      View Details

    FAQs

    What type of property is this?
    Triplex - Three units with rehab potential near Metairie Road and interstate.
    Where is this triplex located?
    The property is located at 259 Papworth Ave Metairie, LA.
    What are key features of this property?
    This property features: - Multi-unit property with three efficiency units, offering immediate rental income potential.; - Units A and B have a brand-new roof, updated plumbing, and repaired/painted wood siding.; - Rear Unit C is gutted to the studs, providing a blank canvas for customization.
    Request Owner's contact information
    259 Papworth Ave Metairie, LA 70005
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    259 Papworth Ave
    Metairie, LA 70005
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    259 Papworth Ave Metairie, LA 70005
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    April Brown
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!