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    Metairie Office/Warehouse Space Available Title is generated by Realmo AI

    3020 20TH Street, Metairie, LA 70002

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    For Lease
    $90,000 SF/Yr $53,700,000/Mo (calc)

    Two-story office/warehouse in Metairie, move-in ready after recent renovation.

    Type:Rental
    Property size:
    7,160 SF
    Added:
    Dec 30, 2024
    Days on Market:
    515
    Last Refresh:
    May 20 at 12:54 am

    Property Features for 3020 20TH Street

    General Information

    Standard status
    Active
    Size
    7,160 SF
    Property subtype
    Rental

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Walker Davis
    Walker Davis

    Listing agent Walker Davis License #995709025

    Listing office Corporate Realty Leasing Company

    Listing date Dec 30, 2024

    Source Exitrealty

    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 Corporate Realty Leasing Company

    HighLights

    • Centrally located in Metairie near North Causeway and Veterans Memorial Blvd.
    • Move‑in ready condition after recent renovation.
    • Combination of 6,500 sf of office and warehouse space.
    • Includes a large classroom, conference room, offices, and reception area.
    • High ceilings in the warehouse.
    • Parking available for 10‑12 vehicles.

    Overview

    This two-story office and warehouse space is centrally located in Metairie, situated one and a half blocks from North Causeway Boulevard and four blocks from Veterans Memorial Boulevard. The property includes approximately 6,500 square feet of office space and a small warehouse area featuring high ceilings. The layout incorporates a large classroom, a conference room, multiple offices, and a reception area. Constructed in the 1970s, the building showcases a brick facade. The building is in overall good condition. It can accommodate approximately 10 to 12 parking spots. Furniture may be available for purchase. The property has been recently renovated and is move-in ready. The total property size is 7,160 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    New & Associates Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.1529218
    Latitude
    30.0064577

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story office/warehouse in Metairie, move-in ready after recent renovation.
    Where is this mixed-use property located?
    The property is located at 3020 20TH Street Metairie, LA.
    What is the lease rate?
    The lease rate is $90,000.
    What are key features of this property?
    This property features: Centrally located in Metairie near North Causeway and Veterans Memorial Blvd.; Move‑in ready condition after recent renovation.; Combination of **6,500 sf of office and warehouse space.**
    (504) 722-7262
    We can help!
    Listing Contact
    Walker Davis
    Walker Davis
    Real Estate License ID: 995709025
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    3020 20TH Street, Metairie, LA 70002
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