Bar Building with
For Sale
$1,350,000
3224 Metairie Rd, Metairie, LA 70001
C2-zoned commercial property with an existing bar layout, street frontage, and on-site parking.
Property Size2,614 SF
Price / SF$516.45
Days on Market215
Property Features for 3224 Metairie Rd
General Information
Standard status
Active
Size
2,614 SF
Property subtype
Retail
Zoning
C1
Building Details
Year Built
1953
Buildings
1
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 237-3359
Listed By:
Matthew Grass · License #23286
(504) 237-3359
Source:
Lacdb.resimplifi
Added: Jan 28
Changed: Aug 30
Last Checked: Aug 30 at 1:48PM
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 The Agency of M. Grass Group, LLC
Investment Insights
Based on property information with market context.
This 2,614-square-foot commercial building is currently operating as a bar and offers an established configuration for continued bar use. Constructed in 1953, the property includes on-site parking and frontage along Metairie Road.
The site is positioned in Metairie near restaurants, retail businesses, and schools. The irregular parcel measures 61x120x32.9x105 and carries a C2 designation, providing a defined commercial setting for the existing operation or a future redevelopment plan.
The site is positioned in Metairie near restaurants, retail businesses, and schools. The irregular parcel measures 61x120x32.9x105 and carries a C2 designation, providing a defined commercial setting for the existing operation or a future redevelopment plan.
Key Highlights
- 2,614 SF commercial building currently operating as a bar
- C2 zoning designation
- On‑site parking
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
$38,394
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
2.84%
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%
$767,880
$767.9K
Cap Rate 7%
$548,486
$548.5K
Cap Rate 9%
$426,600
$426.6K
Market Conditions
NOI Build-Up for 2,614 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
$53.3K $20.40/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$51.2K $19.58/SF
− OpEx
−$12.8K −$4.90/SF
NOI
$38.4K $14.69/SF
Area
Metairie, LA
Vacancy
4.00%
Lease Rate
$20.40 /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%
$767,880
Cap Rate 7%
$548,486
Cap Rate 9%
$426,600
Alternative Uses
Best Use
Specialty Retail
$548.5K
$479.9K – $639.9K
NOI $38,394 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.1K
$535.6K – $714.2K
NOI $42,849 @ 7.0% cap · market cap 3.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,081
Businesses Nearby
107k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 30%
Home Improvements & Furnishings 1%
Chick-fil-A
Dining
31,554 visits/mo
0.2 miles
Dollar Tree
Shops & Services
26,172 visits/mo
0.3 miles
McDonald's
Dining
18,606 visits/mo
0.4 miles
Waffle House
Dining
9,321 visits/mo
0.2 miles
Church's Chicken
Dining
7,280 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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sam's Club Cafe — 3900 Airline Dr, Metairie, LA 70001
- Dude's House of Blue Lights — 3409 Lausat St, Metairie, LA 70001
- Cajun Daiquiris — Metairie, LA 70001
- Whiteys Pool Hall — 3764 Derbigny St, Metairie, LA 70001
- Jucy Bar & Grill — Metairie, LA 70001
Frequently Asked Questions
What type of property is this?
Bar & Pub - C2-zoned commercial property with an existing bar layout, street frontage, and on-site parking.
Where is this bar & pub located?
The property is located at 3224 Metairie Rd Metairie, LA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,614 SF commercial building currently operating as a bar; C2 zoning designation; On‑site parking
