Renovated Office
New
For Sale
$175,000
2901 RIDGELAKE Drive, Metairie, LA 70002
Commercial Sale, Metairie, LA
Property Size1,033 SF
Lot Size0.03 Acres
Price / SF$169.41
Days on Market4
Property Features for 2901 RIDGELAKE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking features
Parking Lot, Off Street
Directions
From Veterans turn right onto Ridgelake, building is at the corner of Kenneth and Ridgelake
Standard status
Active
APN
0820043342
Size
1,033 SF
Lot size
0.03 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1982
Building materials
Brick
Listing Agency:
Sound Realty LLC
(504) 206-8580
Listed By:
Kristi E Salvaggio · License #995700333
(504) 554-9246
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 25 at 10:06AM
MLS# 2582851
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located on the first floor of Commerce Court Condominiums, this 1,033-square-foot office unit contains a waiting area, three offices, a bathroom and a kitchenette. Renovation work was completed in January 2024. The brick building dates to 1982, and the property is zoned C.
The unit is currently occupied under a lease extending through April 30, 2027. Access for showings is by appointment only; the tenant should not be disturbed. The property includes parking lot and off-street parking, with public water and public sewer service.
The unit is currently occupied under a lease extending through April 30, 2027. Access for showings is by appointment only; the tenant should not be disturbed. The property includes parking lot and off-street parking, with public water and public sewer service.
Key Highlights
- 1,033‑square‑foot first‑floor office unit
- Three offices, waiting area, bathroom and kitchenette
- Renovated in January 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,421
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$248,420
$248.4K
Cap Rate 7%
$177,443
$177.4K
Cap Rate 9%
$138,011
$138.0K
Market Conditions
NOI Build-Up for 1,033 SF
Gross rent
$20.7K $20.04/SF
− Vacancy
−$4.1K −$4.01/SF
EGI
$16.6K $16.03/SF
− OpEx
−$4.1K −$4.01/SF
NOI
$12.4K $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%
$248,420
Cap Rate 7%
$177,443
Cap Rate 9%
$138,011
Alternative Uses
Best Use
Office B
$177.4K
$155.3K – $207.0K
NOI $12,421 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.9K
$211.7K – $282.2K
NOI $16,933 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,132
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The suite is leased through April 30, 2027, with showings available by appointment.
Where is this office unit located?
The property is located at 2901 RIDGELAKE Drive Metairie, LA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,033‑square‑foot first‑floor office unit; Three offices, waiting area, bathroom and kitchenette; Renovated in January 2024
