Four-Suite Office
For Sale
$1,950,000
2628 METAIRIE LAWN Drive, Metairie, LA 70002
A shared central stair connects the upper and lower office levels, with on-site parking.
Property Size11,500 SF
Days on Market8
Property Features for 2628 METAIRIE LAWN Drive
General Information
Standard status
Active
Size
11,500 SF
Total Parking Spaces
53
Property subtype
COMMERCIAL
Building Details
Building Size
11,500 SF
Year Built
1980
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Professional
Listed By:
Kent Larrimer · License #000028190
(504) 621-7549
Source:
Burkbrokerage
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 5 at 9:46PM
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 RE/MAX Professional
Investment Insights
Based on property information with market context.
Built in 1980, this 11,500-square-foot office building is divided into four spaces. A common area with an open staircase connects the upper and lower levels, and the property includes 53 parking spaces.
The upper-left space is configured with individual offices that are currently rented. Another 6,935 square feet was leased to one long-term tenant and is now vacant.
The upper-left space is configured with individual offices that are currently rented. Another 6,935 square feet was leased to one long-term tenant and is now vacant.
Key Highlights
- 11,500‑square‑foot office building divided into four spaces
- 53 parking spaces
- Central common area with an open staircase between floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,276
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,765,520
$2.8M
Cap Rate 7%
$1,975,371
$2.0M
Cap Rate 9%
$1,536,400
$1.5M
Market Conditions
NOI Build-Up for 11,500 SF
Gross rent
$230.5K $20.04/SF
− Vacancy
−$46.1K −$4.01/SF
EGI
$184.4K $16.03/SF
− OpEx
−$46.1K −$4.01/SF
NOI
$138.3K $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%
$2,765,520
Cap Rate 7%
$1,975,371
Cap Rate 9%
$1,536,400
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.30M
NOI $138,276 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.36M – $3.14M
NOI $188,511 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,795
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A shared central stair connects the upper and lower office levels, with on-site parking.
Where is this office building located?
The property is located at 2628 METAIRIE LAWN Drive Metairie, LA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 11,500‑square‑foot office building divided into four spaces; 53 parking spaces; Central common area with an open staircase between floors
