Stand-Alone Office
For Sale
$485,000
2808 Hessmer Ave, Metairie, LA 70002
Efficient professional layout with private offices, conference space, on-site parking, and updated building systems.
Property Size2,052 SF
Price / SF$236.35
Days on Market78
Property Features for 2808 Hessmer Ave
General Information
Standard status
Active
Size
2,052 SF
Total Parking Spaces
12
Property subtype
Office
Zoning
BC2
Additional Details
Highway Access
Yes
Amenities
conference room
reception area
kitchen
phone system
security system
Power
Water
Natural Gas
12 Parking Spaces
Building Details
Construction
brick front and vinyl siding
Listing Agency:
Rampart Commercial Management
(504) 483-7028
Listed By:
Trisha Skinner
(504) 483-7028
Source:
Lacdb.resimplifi
Added: Jun 16
Changed: Aug 31
Last Checked: Sep 1 at 2:31PM
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 Rampart Commercial Management
Investment Insights
Based on property information with market context.
This stand-alone office property contains 2,052 SF arranged with private offices, a conference room, reception area, kitchen, and shared work areas. The kitchen includes a microwave and refrigerator, while the building also has an executive phone system, surveillance equipment, alarm components, and security lighting serving the parking area. Recent improvements include an updated roof and HVAC system. Brick at the front and vinyl siding complete the exterior, with pavers along both sides of the building.
Located at 2808 Hessmer Ave in Metairie, the property offers access to Veterans Boulevard, Causeway Boulevard, and I-10. Twelve on-site parking spaces support employee and visitor access. The property is zoned BC2 and is positioned within an established business corridor.
Located at 2808 Hessmer Ave in Metairie, the property offers access to Veterans Boulevard, Causeway Boulevard, and I-10. Twelve on-site parking spaces support employee and visitor access. The property is zoned BC2 and is positioned within an established business corridor.
Key Highlights
- 2,052 SF stand‑alone office building at 2808 Hessmer Ave
- Private offices, conference room, reception area, kitchen, and common work areas
- Updated roof and HVAC system
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
$24,673
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
5.09%
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%
$493,460
$493.5K
Cap Rate 7%
$352,471
$352.5K
Cap Rate 9%
$274,144
$274.1K
Market Conditions
NOI Build-Up for 2,052 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
$41.1K $20.04/SF
− Vacancy
−$8.2K −$4.01/SF
EGI
$32.9K $16.03/SF
− OpEx
−$8.2K −$4.01/SF
NOI
$24.7K $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%
$493,460
Cap Rate 7%
$352,471
Cap Rate 9%
$274,144
Alternative Uses
Best Use
Office B
$352.5K
$308.4K – $411.2K
NOI $24,673 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$480.5K
$420.5K – $560.6K
NOI $33,637 @ 7.0% cap · market cap 6.94%
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
2,828
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 - Efficient professional layout with private offices, conference space, on-site parking, and updated building systems.
Where is this office building located?
The property is located at 2808 Hessmer Ave Metairie, LA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,052 SF stand‑alone office building at 2808 Hessmer Ave; Private offices, conference room, reception area, kitchen, and common work areas; Updated roof and HVAC system
