Office Condominium with Private
For Sale
$190,000
3524 16TH Street, Metairie, LA 70002
Commercial Sale, Metairie, LA
Property Size937 SF
Lot Size0.04 Acres
Price / SF$202.77
Days on Market56
Property Features for 3524 16TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R1A
Parking features
Parking Lot
Standard status
Active
APN
0820041984
Lot size
0.04 Acres
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Tax Description
LOTS 17 & 18 SQ 31 AU BORD DU LAC OFFICE CONDO UNIT 1 PLUS AN UNDIV 23.49% INT IN THE COMMON ELEMENTS 1046/680 SHREWSBURY
Legal Description
LOTS 17 & 18 SQ 31 AU BORD DU LAC OFFICE CONDO UNIT 1 PLUS AN UNDIV 23.49% INT IN THE COMMON ELEMENTS 1046/680 SHREWSBURY
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Building materials
Brick
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Blanca E Johnson · License #995718794
(504) 496-5100
Added: Aug 31
Changed: Oct 23
Last Checked: Oct 25 at 1:06PM
MLS# 2574173
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This ground-floor office condominium in Metairie has two private offices, a reception and waiting area, a private restroom, and a kitchen/break area. The brick building dates to 1984, and the unit is occupied under a month-to-month lease. Shared surface parking serves the property, with approximately 14 spaces available.
The property is near Severn Avenue and a few blocks from Lakeside Shopping Center, with access to Veterans Memorial Boulevard, Causeway Boulevard, and I-10. Zoning is R1A. Public water and sewer service the property, and natural gas is available.
The property is near Severn Avenue and a few blocks from Lakeside Shopping Center, with access to Veterans Memorial Boulevard, Causeway Boulevard, and I-10. Zoning is R1A. Public water and sewer service the property, and natural gas is available.
Key Highlights
- Ground‑floor office condominium with two private offices
- Reception and waiting area, private restroom, and kitchen/break area
- Approximately 14 shared surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,266
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,320
$225.3K
Cap Rate 7%
$160,943
$160.9K
Cap Rate 9%
$125,178
$125.2K
Market Conditions
NOI Build-Up for 937 SF
Gross rent
$18.8K $20.04/SF
− Vacancy
−$3.8K −$4.01/SF
EGI
$15.0K $16.03/SF
− OpEx
−$3.8K −$4.01/SF
NOI
$11.3K $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 Rate 5%
$225,320
Cap Rate 7%
$160,943
Cap Rate 9%
$125,178
Alternative Uses
Best Use
Office B
$160.9K
$140.8K – $187.8K
NOI $11,266 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.4K
$192.0K – $256.0K
NOI $15,360 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,622
Businesses Nearby
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A two-office layout includes reception space, a restroom, and a kitchen/break area.
Where is this office unit located?
The property is located at 3524 16TH Street Metairie, LA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Ground‑floor office condominium with two private offices; Reception and waiting area, private restroom, and kitchen/break area; Approximately 14 shared surface parking spaces
