Mixed-Use Property with Rear
For Sale
$995,000
Pending
3119 METAIRIE Road, Metairie, LA 70001
Front building is configured for salon use, with a rear structure requiring complete renovation.
Property Size2,800 SF
Days on Market139
Property Features for 3119 METAIRIE Road
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
COMMERCIAL
Property Condition
Severity
Major Repairs Needed
Evidence
needs total renovation
Building Details
Building Size
2,800 SF
Year Built
1950
Listing Agency:
Burk Brokerage, LLC
Listed By:
Debbie Lewis · License #995706841
(504) 284-0195
Source:
Burkbrokerage
Added: May 28
Changed: Oct 2
Last Checked: Oct 13 at 3:56AM
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.
This mixed-use property includes a front building currently used as a hair salon, along with a separate rear structure featuring an upper-level apartment and lower-level storage. The rear structure requires total renovation. A vacant lot is included behind the improvements, and the property provides ample off-street parking.
Built in 1950, the property is located on Metairie Road in Metairie, Louisiana. The combination of existing commercial use, additional structure, rear land, and parking creates a varied physical layout for redevelopment or continued mixed-use consideration.
Built in 1950, the property is located on Metairie Road in Metairie, Louisiana. The combination of existing commercial use, additional structure, rear land, and parking creates a varied physical layout for redevelopment or continued mixed-use consideration.
Key Highlights
- Front building currently used as a hair salon
- Rear structure includes an upstairs apartment and lower‑level storage
- Rear structure requires total renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,080
Cap Rate
3.53%
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 3.53%
Second Best
Mixed Use
$486.0K
$425.3K – $567.0K
NOI $34,020 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$655.7K
$573.7K – $765.0K
NOI $45,898 @ 7.0% cap · market cap 4.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
146k
Monthly Visits Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Front building is configured for salon use, with a rear structure requiring complete renovation.
Where is this mixed-use property located?
The property is located at 3119 METAIRIE Road 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: Front building currently used as a hair salon; Rear structure includes an upstairs apartment and lower‑level storage; Rear structure requires total renovation
