Two-Unit Office
For Sale
$850,000
3409 Metairie Rd, Metairie, LA 70001
Separate suites provide flexible options for owner occupancy, leasing, or consolidation into one larger workspace.
Property Size2,601 SF
Price / SF$326.80
Days on Market8
Property Features for 3409 Metairie Rd
General Information
Standard status
Active
Size
2,601 SF
Property subtype
Other
Additional Details
Office Units
2
Building Details
Year Built
1989
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker TEC
(985) 377-1128
Listed By:
Patrick Roberts · License #000013877
Source:
Commercialcafe
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 18 at 10:11AM
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 Coldwell Banker TEC
Investment Insights
Based on property information with market context.
Built in 1989, this two-suite office property offers 2,601 SqFt across distinct spaces measuring 913 SqFt and 1,688 SqFt. The larger suite includes five offices, three open retail/work areas, and two half baths. The smaller suite combines an open retail/work area with a private office and half bath. The layouts can function independently or be combined into a larger single-user configuration.
An additional lot provides parking, and the property is currently tenant occupied. Positioned on Metairie Rd in Metairie, the building combines office layouts with open areas that can accommodate professional or retail-oriented operations.
An additional lot provides parking, and the property is currently tenant occupied. Positioned on Metairie Rd in Metairie, the building combines office layouts with open areas that can accommodate professional or retail-oriented operations.
Key Highlights
- 2,601 SqFt two‑unit office building completed in 1989
- Suites measure 913 SqFt and 1,688 SqFt
- Larger suite has five offices, 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
$32,587
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
3.83%
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%
$651,740
$651.7K
Cap Rate 7%
$465,529
$465.5K
Cap Rate 9%
$362,078
$362.1K
Market Conditions
NOI Build-Up for 2,601 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
$49.0K $18.84/SF
− Vacancy
−$2.5K −$0.94/SF
EGI
$46.6K $17.90/SF
− OpEx
−$14.0K −$5.37/SF
NOI
$32.6K $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 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%
$651,740
Cap Rate 7%
$465,529
Cap Rate 9%
$362,078
Alternative Uses
Best Use
Retail
$465.5K
$407.3K – $543.1K
NOI $32,587 @ 7.0% cap · market cap 3.83%
Second Best
Office B
$446.8K
$390.9K – $521.2K
NOI $31,274 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$609.1K
$533.0K – $710.6K
NOI $42,636 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Separate suites provide flexible options for owner occupancy, leasing, or consolidation into one larger workspace.
Where is this office building located?
The property is located at 3409 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: 2,601 SqFt two‑unit office building completed in 1989; Suites measure 913 SqFt and 1,688 SqFt; Larger suite has five offices, three open retail/work areas, and two half baths
