Freestanding Office
New
For Sale
$529,000
2701 Athania Pkwy, Metairie, LA 70002
Single-story corner layout includes reception, private offices, kitchen, and open work area.
Property Size1,879 SF
Price / SF$281.53
Days on Market3
Property Features for 2701 Athania Pkwy
General Information
Standard status
Active
Size
1,879 SF
Class
B
Property subtype
Office
Zoning
BC2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
1,879 SF
Buildings
1
Stories
1
Listing Agency:
Elifin Realty
(504) 352-3783
Listed By:
Adrien Foley · License #955716500
(504) 352-3783
Source:
Elifinrealty
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 2:46PM
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 Elifin Realty
Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 1,879 SF in a single-story corner configuration. The interior includes an open reception and waiting area, two private offices, a full kitchen, and adjoining open work space. Approximately 174 feet of dual frontage adds exposure along the corner setting.
Located at 2701 Athania Pkwy, the building provides immediate access to I-10, N Causeway Blvd, and Veterans Blvd. Lakeside Shopping Center, Whole Foods Market, and Trader Joe’s are nearby. The property is zoned BC2 - Business Core District.
Located at 2701 Athania Pkwy, the building provides immediate access to I-10, N Causeway Blvd, and Veterans Blvd. Lakeside Shopping Center, Whole Foods Market, and Trader Joe’s are nearby. The property is zoned BC2 - Business Core District.
Key Highlights
- Approximately 1,879 SF freestanding office building
- Single‑story corner configuration with approximately 174 ft of dual frontage
- Open reception and waiting area plus 2 private offices
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
$22,593
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
4.27%
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%
$451,860
$451.9K
Cap Rate 7%
$322,757
$322.8K
Cap Rate 9%
$251,033
$251.0K
Market Conditions
NOI Build-Up for 1,879 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
$37.7K $20.04/SF
− Vacancy
−$7.5K −$4.01/SF
EGI
$30.1K $16.03/SF
− OpEx
−$7.5K −$4.01/SF
NOI
$22.6K $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%
$451,860
Cap Rate 7%
$322,757
Cap Rate 9%
$251,033
Alternative Uses
Best Use
Office B
$322.8K
$282.4K – $376.6K
NOI $22,593 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$440.0K
$385.0K – $513.4K
NOI $30,801 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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Frequently Asked Questions
What type of property is this?
Office building - Single-story corner layout includes reception, private offices, kitchen, and open work area.
Where is this office building located?
The property is located at 2701 Athania Pkwy Metairie, LA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Approximately 1,879 SF freestanding office building; Single‑story corner configuration with approximately 174 ft of dual frontage; Open reception and waiting area plus 2 private offices
