Office Building with Enclosed
For Sale
$275,000
2628 Athania Pkwy, Metairie, LA 70002
BC-2-zoned office property with a reception area, private offices, restroom, and adaptable covered parking area.
Property Size1,212 SF
Price / SF$226.90
Days on Market9
Property Features for 2628 Athania Pkwy
General Information
Standard status
Active
Size
1,212 SF
Zoning
BC-2
Property Condition
Severity
Repairs Needed
Evidence
update and customize the space
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
2022
Listing Agency:
Prime Real Estate Partners, LLC
(504) 909-7069
Listed By:
Wendy Touchard
(504) 909-7069
Source:
Exprealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 11:32AM
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 Prime Real Estate Partners, LLC
Investment Insights
Based on property information with market context.
This 1,212-square-foot office property at 2628 Athania Pkwy includes a reception area, room for a conference area, 3–4 private offices, and one restroom. An enclosed carport provides covered vehicle space and may be reopened for backyard access and additional parking. The roof was replaced on 10/17/2022, while the interior offers a straightforward base for updates and customization.
The property is positioned on Athania Parkway with access to N. Causeway Blvd., Veterans Memorial Blvd., and I-10. BC-2 zoning supports its office classification and provides a clear framework for evaluating future improvements to the existing building. The combination of defined office rooms, a reception area, covered parking, and a recently replaced roof creates a practical configuration for an owner-user or office-focused commercial use.
The property is positioned on Athania Parkway with access to N. Causeway Blvd., Veterans Memorial Blvd., and I-10. BC-2 zoning supports its office classification and provides a clear framework for evaluating future improvements to the existing building. The combination of defined office rooms, a reception area, covered parking, and a recently replaced roof creates a practical configuration for an owner-user or office-focused commercial use.
Key Highlights
- 1,212‑square‑foot office property at 2628 Athania Pkwy
- BC‑2 zoning
- Reception area with 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
Yes
Paved road 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 building - BC-2-zoned office property with a reception area, private offices, restroom, and adaptable covered parking area.
Where is this office building located?
The property is located at 2628 Athania Pkwy 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‑square‑foot office property at 2628 Athania Pkwy; BC‑2 zoning; Reception area with space for a conference area
