Flexible-Layout Office
For Sale
$1,300,000
3017 Lime St, Metairie, LA 70006
Office property with BC2 zoning and access to Veterans Boulevard, Causeway Boulevard, and I-10.
Property Size5,300 SF
Price / SF$245.28
Days on Market113
Property Features for 3017 Lime St
General Information
Standard status
Active
Size
5,300 SF
Property subtype
Office
Zoning
BC2
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
SRSA Commercial Real Estate
(504) 908-2317
Listed By:
Michael Corrigan
(504) 908-2317
Source:
Lacdb.resimplifi
Added: May 11
Changed: Aug 30
Last Checked: Aug 31 at 12:47PM
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 SRSA Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 3017 Lime Street is a 5,300-square-foot office building with a flexible interior layout and BC2 zoning. Its configuration supports a range of office-oriented commercial uses, with the physical characteristics suited to both occupancy and future adaptation.
Access is provided through nearby Veterans Boulevard, Causeway Boulevard, and I-10. The property is positioned near retail, restaurants, professional services, and residential neighborhoods, with connectivity to Downtown New Orleans, the airport, and other Jefferson Parish markets.
The surrounding context combines established commercial services with nearby residential areas. The address is 3017 Lime St, Metairie, LA 70006.
Access is provided through nearby Veterans Boulevard, Causeway Boulevard, and I-10. The property is positioned near retail, restaurants, professional services, and residential neighborhoods, with connectivity to Downtown New Orleans, the airport, and other Jefferson Parish markets.
The surrounding context combines established commercial services with nearby residential areas. The address is 3017 Lime St, Metairie, LA 70006.
Key Highlights
- 5,300‑square‑foot office building at 3017 Lime St, Metairie, LA 70006
- BC2 zoning
- Flexible interior layout for office‑oriented commercial use
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
$63,727
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
4.90%
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%
$1,274,540
$1.3M
Cap Rate 7%
$910,386
$910.4K
Cap Rate 9%
$708,078
$708.1K
Market Conditions
NOI Build-Up for 5,300 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
$106.2K $20.04/SF
− Vacancy
−$21.2K −$4.01/SF
EGI
$85.0K $16.03/SF
− OpEx
−$21.2K −$4.01/SF
NOI
$63.7K $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%
$1,274,540
Cap Rate 7%
$910,386
Cap Rate 9%
$708,078
Alternative Uses
Best Use
Office B
$910.4K
$796.6K – $1.06M
NOI $63,727 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,879 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,390
Businesses Nearby
Explore this area
Business Placement
Demographics for 70006, LA
16,540
Population
6,645
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
6,362
Density / Sq Mi
$74,049
Median Household Income
$42,120
Median Earnings
$1,206
Median Rent
$333,000
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 - Office property with BC2 zoning and access to Veterans Boulevard, Causeway Boulevard, and I-10.
Where is this office building located?
The property is located at 3017 Lime St Metairie, LA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 5,300‑square‑foot office building at 3017 Lime St, Metairie, LA 70006; BC2 zoning; Flexible interior layout for office‑oriented commercial use
