Office Unit with Private
New
For Sale
$275,000
2628 ATHANIA Parkway, Metairie, LA 70002
Commercial, Metairie, LA
Property Size1,212 SF
Lot Size0.14 Acres
Price / SF$226.90
Days on Market1
Property Features for 2628 ATHANIA Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BC2
Subdivision
Athania Addition
Lot features
Regular
Standard status
Active
APN
0820006613
Size
1,212 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LOT 47 SQ 11 ATHANIA ADD #2
Legal Description
LOT 47 SQ 11 ATHANIA ADD #2
Utilities
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Listing Agency:
Prime Real Estate Partners, LLC · Prudential Real Estate
(504) 400-4969
Listed By:
Wendy Touchard
(504) 909-7069
Added: Aug 21
Last Checked: Aug 21 at 9:06PM
MLS# 2568256
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 1,212-square-foot office unit sits on a 0.1377-acre parcel and was built in 1974. The interior includes a reception area, room for a conference area, 3–4 private offices, and one restroom. An enclosed carport is part of the existing improvements and may be reopened to connect with the backyard, where additional parking could be accommodated.
The property is located at 2628 Athania Parkway in Metairie, with access to N. Causeway Boulevard, Veterans Memorial Boulevard, and I-10. It carries BC-2 zoning and receives public water service. A new roof was installed on 10/17/2022.
The property is located at 2628 Athania Parkway in Metairie, with access to N. Causeway Boulevard, Veterans Memorial Boulevard, and I-10. It carries BC-2 zoning and receives public water service. A new roof was installed on 10/17/2022.
Key Highlights
- 1,212 SF office unit on a 0.1377‑acre parcel
- BC‑2 zoning with public water service
- Reception area plus space for a conference area
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
$14,573
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
5.30%
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%
$291,460
$291.5K
Cap Rate 7%
$208,186
$208.2K
Cap Rate 9%
$161,922
$161.9K
Market Conditions
NOI Build-Up for 1,212 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
$24.3K $20.04/SF
− Vacancy
−$4.9K −$4.01/SF
EGI
$19.4K $16.03/SF
− OpEx
−$4.9K −$4.01/SF
NOI
$14.6K $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 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%
$291,460
Cap Rate 7%
$208,186
Cap Rate 9%
$161,922
Alternative Uses
Best Use
Office B
$208.2K
$182.2K – $242.9K
NOI $14,573 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.8K
$248.3K – $331.1K
NOI $19,867 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
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?
Office units - BC-2-zoned office space with reception, conference-area capacity, private offices, and an enclosed carport.
Where is this office units located?
The property is located at 2628 ATHANIA Parkway Metairie, LA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,212 SF office unit on a 0.1377‑acre parcel; BC‑2 zoning with public water service; Reception area plus space for a conference area
