Value-Add Office/Retail
For Sale
$530,000
3116 Metairie Rd, Metairie, LA 70001
Value-add office/retail property with C1 zoning and daily traffic exposure, offering flexible single- or multi-tenant use.
Property Size2,800 SF
Price / SF$189.29
Days on Market141
Property Features for 3116 Metairie Rd
General Information
Standard status
Active
Size
2,800 SF
Class
C
Property subtype
Office
Zoning
C1
Additional Details
Traffic Count
12,140 vehicles/day
Building Details
Building Size
2,800 SF
Listing Agency:
Elifin Realty
Listed By:
Brady Becker · License #9006927
(985) 703-1140
Source:
Elifinrealty
Added: Jun 2
Changed: Oct 7
Last Checked: Oct 19 at 4:25AM
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 Elifin Realty
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Investment Insights
Based on property information with market context.
Now available for sale, 3116 Metairie Rd is a ±2,800 SF value-add office/retail property with visibility to approximately 12,140 vehicles per day. The space is suited to flexible single- or multi-tenant use, depending on configuration and business needs.
The property is zoned C1 Neighborhood Commercial District and is surrounded by local amenities, including Bear’s Poboys, Loft18, Moxie, and more.
Designed to accommodate office and retail users, this offering presents an opportunity for buyers looking for a commercial property with both street-level exposure and adaptable layout options under C1 zoning.
The property is zoned C1 Neighborhood Commercial District and is surrounded by local amenities, including Bear’s Poboys, Loft18, Moxie, and more.
Designed to accommodate office and retail users, this offering presents an opportunity for buyers looking for a commercial property with both street-level exposure and adaptable layout options under C1 zoning.
Key Highlights
- 2,800 SF office/retail property for sale
- 12,140 vehicles per day traffic count
- C1 Neighborhood Commercial District zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,080
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,600
$701.6K
Cap Rate 7%
$501,143
$501.1K
Cap Rate 9%
$389,778
$389.8K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$52.8K $18.84/SF
− Vacancy
−$2.6K −$0.94/SF
EGI
$50.1K $17.90/SF
− OpEx
−$15.0K −$5.37/SF
NOI
$35.1K $12.53/SF
Area
Metairie, LA
Vacancy
5.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,600
Cap Rate 7%
$501,143
Cap Rate 9%
$389,778
Alternative Uses
Best Use
Retail
$501.1K
$438.5K – $584.7K
NOI $35,080 @ 7.0% cap · market cap 6.62%
Second Best
Office B
$481.0K
$420.8K – $561.1K
NOI $33,667 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$655.7K
$573.7K – $765.0K
NOI $45,898 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12,140 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Value-add office/retail property with C1 zoning and daily traffic exposure, offering flexible single- or multi-tenant use.
Where is this office unit located?
The property is located at 3116 Metairie Rd Metairie, LA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,800 SF office/retail property for sale; 12,140 vehicles per day traffic count; C1 Neighborhood Commercial District zoning
