Mixed-Use 4-Plex with
For Sale
$595,000
Pending
341 METAIRIE Road, Metairie, LA 70005
Mixed-use 4-plex with two street-level commercial units and two upstairs units, including one leased office space.
Property Size3,132 SF
Days on Market246
Property Features for 341 METAIRIE Road
General Information
Standard status
Pending
Size
3,132 SF
Property subtype
General Commercial
Zoning
R-3
Amenities
3
R3
Parking.
Off Street.
Rectangular
7797
Rectangular.
Building Details
Year Built
1957
Listing Agency:
Southeast Commercial of MS, LLC
(228) 276-2700
Listed By:
Matt Eaton · License #0000072493
(504) 339-2136
Source:
Xome
Added: Jan 2
Changed: Sep 2
Last Checked: Sep 4 at 2:55AM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This R-3 zoned mixed-use 4-plex offers multiple income and occupancy options within one property. The building is configured with two street-level commercial units and two upstairs units: one residential unit and one unit currently leased as office space, which the remarks indicate can also be used as a residential unit.
The property is located on Metairie Road in an established Old Metairie area. The public remarks note both high foot and vehicle traffic and walkable amenities nearby.
For practical planning, the property combines ground-floor commercial space with upstairs residential and office use under the flexibility of the R-3 designation, supporting a range of owner and tenant arrangements.
The property is located on Metairie Road in an established Old Metairie area. The public remarks note both high foot and vehicle traffic and walkable amenities nearby.
For practical planning, the property combines ground-floor commercial space with upstairs residential and office use under the flexibility of the R-3 designation, supporting a range of owner and tenant arrangements.
Key Highlights
- R‑3 zoned mixed‑use 4‑plex at 341 Metairie Road in Metairie’s established Old Metairie neighborhood
- Two street‑level commercial units
- Two upstairs units: one residential space and one leased office space
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
$41,673
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
7.00%
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%
$833,460
$833.5K
Cap Rate 7%
$595,329
$595.3K
Cap Rate 9%
$463,033
$463.0K
Market Conditions
NOI Build-Up for 3,132 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
$78.9K $25.20/SF
− Vacancy
−$9.5K −$3.02/SF
EGI
$69.5K $22.18/SF
− OpEx
−$27.8K −$8.87/SF
NOI
$41.7K $13.31/SF
Area
Metairie, LA
Vacancy
12.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$833,460
Cap Rate 7%
$595,329
Cap Rate 9%
$463,033
Alternative Uses
Best Use
Healthcare Medical
$595.3K
$520.9K – $694.6K
NOI $41,673 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$543.6K
$475.7K – $634.2K
NOI $38,054 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$733.4K
$641.8K – $855.7K
NOI $51,341 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
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?
Mixed-use property - Mixed-use 4-plex with two street-level commercial units and two upstairs units, including one leased office space.
Where is this mixed-use property located?
The property is located at 341 METAIRIE Road Metairie, LA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: R‑3 zoned mixed‑use 4‑plex at 341 Metairie Road in Metairie’s established Old Metairie neighborhood; Two street‑level commercial units; Two upstairs units: one residential space and one leased office space
