Two-Unit Office
New
For Sale
$850,000
3409-11 Metairie Rd, Metairie, LA 70001
Flexible two-suite layout includes open work areas, private offices, and an additional parking lot.
Property Size2,601 SF
Price / SF$412.42
Days on Market3
Property Features for 3409-11 Metairie Rd
General Information
Standard status
Active
Size
2,601 SF
Additional Details
Office Units
2
Building Details
Year Built
1989
Buildings
1
Building Size
2,601 SF
Owner Occupied
No
Listing Agency:
Homesmart Realty South
Listed By:
Sandra Roberts, Patrick Roberts
Source:
Dominionplace
Added: Sep 21
Last Checked: Sep 22 at 7:09PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This two-unit office property at 3409-11 Metairie Rd includes 2,061 square feet across suites measuring 913 square feet and 1,688 square feet. The larger suite contains five office areas, three open retail/work areas, and two half baths. The smaller suite provides an open retail/work area, a private office, and a half bath. The configuration supports separate occupancy or use by an owner in one suite while leasing the other, as described in the property information.
Built in 1989, the building is currently tenant occupied. The sale also includes an additional lot for parking, providing dedicated parking associated with the office property. The address places the building on Metairie Road in Metairie, Louisiana.
Built in 1989, the building is currently tenant occupied. The sale also includes an additional lot for parking, providing dedicated parking associated with the office property. The address places the building on Metairie Road in Metairie, Louisiana.
Key Highlights
- 2,061‑square‑foot office building with two suites
- Suite sizes include 913 square feet and 1,688 square feet
- Larger suite has three open retail/work areas and two half baths
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
$24,781
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
2.92%
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%
$495,620
$495.6K
Cap Rate 7%
$354,014
$354.0K
Cap Rate 9%
$275,344
$275.3K
Market Conditions
NOI Build-Up for 2,061 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
$41.3K $20.04/SF
− Vacancy
−$8.3K −$4.01/SF
EGI
$33.0K $16.03/SF
− OpEx
−$8.3K −$4.01/SF
NOI
$24.8K $12.02/SF
Area
Metairie, LA
Vacancy
20.00%
Lease Rate
$20.04 /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%
$495,620
Cap Rate 7%
$354,014
Cap Rate 9%
$275,344
Alternative Uses
Best Use
Office B
$354.0K
$309.8K – $413.0K
NOI $24,781 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$482.6K
$422.3K – $563.1K
NOI $33,785 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,015
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Flexible two-suite layout includes open work areas, private offices, and an additional parking lot.
Where is this office building located?
The property is located at 3409-11 Metairie Rd Metairie, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,061‑square‑foot office building with two suites; Suite sizes include 913 square feet and 1,688 square feet; Larger suite has three open retail/work areas and two half baths
