Bar Property with Upstairs
For Sale
$1,500,000
2708 N Hullen St, Metairie, LA 70002
BC2-zoned hospitality property with an existing bar and cafe layout, furnishings, fixtures, and equipment.
Property Size8,172 SF
Lot Size0.48 Acres
Price / SF$183.55
Days on Market27
Property Features for 2708 N Hullen St
General Information
Standard status
Active
Size
8,172 SF
Total Parking Spaces
32
Lot size
0.48 Acres
Property subtype
Hospitality
Zoning
BC2
Additional Details
Furnished
Yes
Equipment Included
Yes
Amenities
upstairs apartment
32 Parking Spaces
Listing Agency:
REMAX Commercial Brokers, Inc
(504) 606-7788
Listed By:
Lucy Chun
(504) 606-7788
Source:
Lacdb.resimplifi
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 30 at 1:44PM
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 REMAX Commercial Brokers, Inc
Investment Insights
Based on property information with market context.
Located at 2708 N Hullen St in Metairie, Louisiana, this bar property comprises an 8,172-square-foot building on 21,000 square feet of land. The improvements include an upstairs apartment and existing furnishings, fixtures, and equipment associated with the bar and cafe operation.
The property is positioned behind Whole Foods and offers a configuration suited to hospitality, entertainment, or nightlife uses identified for the site. BC2 zoning is in place, providing a defined commercial framework for evaluating the property and its existing improvements.
The property is positioned behind Whole Foods and offers a configuration suited to hospitality, entertainment, or nightlife uses identified for the site. BC2 zoning is in place, providing a defined commercial framework for evaluating the property and its existing improvements.
Key Highlights
- 8,172‑square‑foot building on 21,000 square feet of land
- Upstairs apartment included with the property
- Existing bar and cafe improvements with FF&E
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
$120,030
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
8.00%
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%
$2,400,600
$2.4M
Cap Rate 7%
$1,714,714
$1.7M
Cap Rate 9%
$1,333,667
$1.3M
Market Conditions
NOI Build-Up for 8,172 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
$166.7K $20.40/SF
− Vacancy
−$6.7K −$0.82/SF
EGI
$160.0K $19.58/SF
− OpEx
−$40.0K −$4.90/SF
NOI
$120.0K $14.69/SF
Area
Metairie, LA
Vacancy
4.00%
Lease Rate
$20.40 /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%
$2,400,600
Cap Rate 7%
$1,714,714
Cap Rate 9%
$1,333,667
Alternative Uses
Best Use
Specialty Retail
$1.71M
$1.50M – $2.00M
NOI $120,030 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,958 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,015
Businesses Nearby
Well-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Round House Bar and Grill — 2261 N Causeway Blvd, Metairie, LA 70001
- Hedges Bar & Grill — 4 Galleria Blvd, Metairie, LA 70001
- Rawbar Inc — 2508 metairie lawn dr, metairie, la 70002
- Vogue Bar & Cafe — 2708 N Hullen St, Metairie, LA 70002
- The Gas Station Bar — 3408 28th St, Metairie, LA 70002
Frequently Asked Questions
What type of property is this?
Bar & Pub - BC2-zoned hospitality property with an existing bar and cafe layout, furnishings, fixtures, and equipment.
Where is this bar & pub located?
The property is located at 2708 N Hullen St Metairie, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8,172‑square‑foot building on 21,000 square feet of land; Upstairs apartment included with the property; Existing bar and cafe improvements with FF&E
