Renovated Quadplex with
For Sale
$846,900
3001 5th St, Metairie, LA 70002
Four-unit property with updated interiors, covered parking, exterior storage, and separate electric meters.
Property Size3,158 SF
Price / SF$268.18
Days on Market124
Property Features for 3001 5th St
General Information
Standard status
Active
Size
3,158 SF
Property subtype
Residential Income
Listing Agency:
NOLA Living Realty
(504) 259-6081
Listed By:
Kenneth Ackermann · License #995702356
(504) 259-6081
Source:
Exprealty
Added: Apr 21
Changed: Aug 21
Last Checked: Aug 21 at 11:48AM
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 NOLA Living Realty
Investment Insights
Based on property information with market context.
This 3,158-square-foot quadplex contains four units and was renovated in 2021. The improvements include refreshed interiors, new appliances, and contemporary finishes. An elevator connects all floors, while each unit has covered parking and the property includes additional exterior storage. Separate electric meters serve the individual units.
Located at 3001 5th St in Metairie, the building sits along the levee with direct access to nearby walking and biking paths. Upper-floor units have views of Lake Pontchartrain. The combination of four-unit configuration, updated building components, vertical accessibility, parking, and storage supports both owner-occupant and investor use.
Located at 3001 5th St in Metairie, the building sits along the levee with direct access to nearby walking and biking paths. Upper-floor units have views of Lake Pontchartrain. The combination of four-unit configuration, updated building components, vertical accessibility, parking, and storage supports both owner-occupant and investor use.
Key Highlights
- Four‑unit quadplex with 3,158 square feet of building area
- Renovated in 2021 with updated interiors, new appliances, and modern finishes
- Elevator provides service to all floors
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
$33,770
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
3.99%
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%
$675,400
$675.4K
Cap Rate 7%
$482,429
$482.4K
Cap Rate 9%
$375,222
$375.2K
Market Conditions
NOI Build-Up for 3,158 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
$51.2K $16.20/SF
− Vacancy
−$2.9K −$0.92/SF
EGI
$48.2K $15.28/SF
− OpEx
−$14.5K −$4.58/SF
NOI
$33.8K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$675,400
Cap Rate 7%
$482,429
Cap Rate 9%
$375,222
Alternative Uses
Best Use
Multifamily LT 5
$482.4K
$422.1K – $562.8K
NOI $33,770 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$419.8K
$367.4K – $489.8K
NOI $29,388 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$739.5K
$647.1K – $862.8K
NOI $51,767 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,868
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with updated interiors, covered parking, exterior storage, and separate electric meters.
Where is this quadplex located?
The property is located at 3001 5th St Metairie, LA.
What is the asking price?
The asking price for this property is $846,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,158 square feet of building area; Renovated in 2021 with updated interiors, new appliances, and modern finishes; Elevator provides service to all floors
