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Listing Agency: Burk Brokerage LLC

Listed By: GiGi Burk · License #000051897 Show Phone

Source: Lacdb.resimplifi

Added: Sep 14 Changed: Oct 13 Last Checked: Oct 14 at 7:41PM

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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 Burk Brokerage LLC

Investment Insights

Based on property information with market context.

The Metairie Road property combines a storefront building with a vacant lot behind it. C1 zoning and off-street parking are among its documented features.

A rear structure is also part of the property. Its lower level can serve as storage, while conversion of the structure to apartment or office space would require total renovation.

Key Highlights

• Vacant lot included behind the storefront property
• C1 zoning
• Off‑street parking available

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,379

Cap Rate

5.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,127,580 $1.1M

Cap Rate 7%

$805,414 $805.4K

Cap Rate 9%

$626,433 $626.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,500 SF

Gross rent

$84.8K $18.84/SF

− Vacancy

−$4.2K −$0.94/SF

EGI

$80.5K $17.90/SF

− OpEx

−$24.2K −$5.37/SF

NOI

$56.4K $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%

$1,127,580

Cap Rate 7%

$805,414

Cap Rate 9%

$626,433

Alternative Uses

Best Use

Retail

$805.4K

$704.7K – $939.7K (±1% cap)

NOI $56,379 @ 7.0% cap · market cap 5.67%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.05M

$922.1K – $1.23M (±1% cap)

NOI $73,765 @ 7.0% cap · market cap 7.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage Dental Office Daycare Center Barber Shop Acupuncture (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,216

Businesses Nearby

146k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 46% Groceries 36% Shops & Services 18%

Rouses Market Groceries

52,204 visits/mo 0.4 miles

Chick-fil-A Dining

31,554 visits/mo 0.4 miles

Dollar Tree Shops & Services

26,172 visits/mo 0.2 miles

McDonald's Dining

18,606 visits/mo 0.4 miles

Waffle House Dining

9,321 visits/mo 0.5 miles

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

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Storefront property - C1-zoned property includes a separate vacant lot and off-street parking.

Where is this storefront property located?

The property is located at 3119-3121 Metairie Rd Metairie, LA.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Vacant lot included behind the storefront property; C1 zoning; Off‑street parking available