Two-Story Medical Office
For Sale
$250,000
3939 Houma Blvd, Metairie, LA 70006
Configured clinic and administrative areas include private offices, support rooms, and a conference room near a major hospital.
Property Size1,776 SF
Price / SF$140.77
Days on Market422
Property Features for 3939 Houma Blvd
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Office
Amenities
Vacant
Listing Agency:
Southeast Commercial Real Estate
(504) 339-2136
Listed By:
Matt Eaton, CCIM · License #0000072493
(504) 339-2136
Source:
Lacdb.resimplifi
Added: Jul 7, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:47PM
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 Real Estate
Investment Insights
Based on property information with market context.
This two-level medical office property provides 1,776 square feet of workspace. The 1,080-square-foot first floor is arranged for clinical operations with multiple offices, two bathrooms, a kitchenette, a break room, and a conference room. Upstairs, 696 square feet offers a large office area with substantial storage for administrative functions or additional workstations.
The property is located on Houma Blvd in Metairie’s medical corridor, near East Jefferson General Hospital and other medical offices. Its combination of clinic, office, meeting, and support areas creates a functional layout for medical and related professional operations.
The property is located on Houma Blvd in Metairie’s medical corridor, near East Jefferson General Hospital and other medical offices. Its combination of clinic, office, meeting, and support areas creates a functional layout for medical and related professional operations.
Key Highlights
- 1,776 SF medical office property across two floors
- First floor includes 1,080 square feet with multiple offices, two bathrooms, kitchenette, break room, and conference room
- Second floor contains 696 square feet with a spacious office area and generous storage
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
$21,355
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
8.54%
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%
$427,100
$427.1K
Cap Rate 7%
$305,071
$305.1K
Cap Rate 9%
$237,278
$237.3K
Market Conditions
NOI Build-Up for 1,776 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
$35.6K $20.04/SF
− Vacancy
−$7.1K −$4.01/SF
EGI
$28.5K $16.03/SF
− OpEx
−$7.1K −$4.01/SF
NOI
$21.4K $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%
$427,100
Cap Rate 7%
$305,071
Cap Rate 9%
$237,278
Alternative Uses
Best Use
Healthcare Medical
$337.6K
$295.4K – $393.9K
NOI $23,631 @ 7.0% cap · market cap 9.45%
Second Best
Office B
$305.1K
$266.9K – $355.9K
NOI $21,355 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$415.9K
$363.9K – $485.2K
NOI $29,113 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,159
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70006, LA
16,540
Population
6,645
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
6,362
Density / Sq Mi
$74,049
Median Household Income
$42,120
Median Earnings
$1,206
Median Rent
$333,000
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?
Medical Office Space - Configured clinic and administrative areas include private offices, support rooms, and a conference room near a major hospital.
Where is this medical office space located?
The property is located at 3939 Houma Blvd Metairie, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,776 SF medical office property across two floors; First floor includes 1,080 square feet with multiple offices, two bathrooms, kitchenette, break room, and conference room; Second floor contains 696 square feet with a spacious office area and generous storage
