Office Condominium with Covered
New
For Sale
$485,000
2901 N Causeway Boulevard Unit 301, Metairie, LA 70002
Flexible office condominium with private offices, conference rooms, natural light, and covered parking.
Property Size2,080 SF
Price / SF$233.17
Days on Market2
Property Features for 2901 N Causeway Boulevard Unit 301
General Information
Standard status
Active
Size
2,080 SF
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Stirling Properties
Listed By:
Thomas Bryan · License #995691083
(804) 513-9309
Source:
Dominionplace
Added: Sep 9
Last Checked: Sep 9 at 3:35PM
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 Stirling Properties
Investment Insights
Based on property information with market context.
This office condominium at 2901 N. Causeway Boulevard, Unit 301, offers 2,080 square feet with an open, adaptable layout, private offices, and conference rooms. Abundant natural light supports a comfortable professional setting, while covered parking serves the building. Constructed in 1984, the property is suited to an owner-occupant or tenant seeking office space in a prominent commercial setting.
The property is positioned near the intersection of N. Causeway Boulevard and Veterans Boulevard, with access to Interstate 10. Lakeside Shopping Center is nearby, and Trader Joe’s along with additional retail and dining options are within walking distance. The offering includes two office condominiums for lease or purchase, with Unit 301 identified at the listed address.
The property is positioned near the intersection of N. Causeway Boulevard and Veterans Boulevard, with access to Interstate 10. Lakeside Shopping Center is nearby, and Trader Joe’s along with additional retail and dining options are within walking distance. The offering includes two office condominiums for lease or purchase, with Unit 301 identified at the listed address.
Key Highlights
- 2,080‑square‑foot office condominium at 2901 N. Causeway Boulevard, Unit 301
- Open floor plan with private offices and conference rooms
- Abundant natural light throughout the office space
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
$25,010
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
5.16%
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%
$500,200
$500.2K
Cap Rate 7%
$357,286
$357.3K
Cap Rate 9%
$277,889
$277.9K
Market Conditions
NOI Build-Up for 2,080 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
$41.7K $20.04/SF
− Vacancy
−$8.3K −$4.01/SF
EGI
$33.3K $16.03/SF
− OpEx
−$8.3K −$4.01/SF
NOI
$25.0K $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%
$500,200
Cap Rate 7%
$357,286
Cap Rate 9%
$277,889
Alternative Uses
Best Use
Office B
$357.3K
$312.6K – $416.8K
NOI $25,010 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$487.1K
$426.2K – $568.3K
NOI $34,096 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,410
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
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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 units - Flexible office condominium with private offices, conference rooms, natural light, and covered parking.
Where is this office units located?
The property is located at 2901 N Causeway Boulevard Unit 301 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: 2,080‑square‑foot office condominium at 2901 N. Causeway Boulevard, Unit 301; Open floor plan with private offices and conference rooms; Abundant natural light throughout the office space
