Flex Space with Truck
For Sale
$699,000
4405 Zenith St, Metairie, LA 70001
Combines office areas on two levels with warehouse plumbing, multiple truck doors, and a full kitchen and bath.
Property Size5,000 SF
Price / SF$139.80
Days on Market67
Property Features for 4405 Zenith St
General Information
Standard status
Active
Size
5,000 SF
Building Details
Year Built
1978
Listing Agency:
Paul Gilmore & Associates, Inc.
Listed By:
Paul Gilmore · License #BROK.0000039246.A-CORP
(504) 456-1234
Source:
Fiorellaavenue
Added: Aug 8
Changed: Oct 8
Last Checked: Oct 7 at 3:33PM
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 Paul Gilmore & Associates, Inc.
Investment Insights
Based on property information with market context.
This 5,000 SF flex property, built in 1978, combines office and warehouse components in a two-level configuration. The upper floor contains four offices, a full bathroom, and a kitchen, while the lower level provides two additional offices. Separate entry doors serve the upper and lower areas. The warehouse includes plumbing, three truck doors, and ceiling clearance ranging from 20' to 22'. The front truck door measures approximately 14.5' x 12'.
Located at 4405 Zenith St in Metairie, the building is currently leased under a modified-gross structure through June 30, 2028. The office arrangement and separate entrances provide a clearly defined layout within the broader flex-space format.
Located at 4405 Zenith St in Metairie, the building is currently leased under a modified-gross structure through June 30, 2028. The office arrangement and separate entrances provide a clearly defined layout within the broader flex-space format.
Key Highlights
- 5,000 SF flex property built in 1978
- Four upper‑level offices and two lower‑level offices
- Three truck doors; front door approximately 14.5' x 12'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,083
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,201,660
$1.2M
Cap Rate 7%
$858,329
$858.3K
Cap Rate 9%
$667,589
$667.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$91.8K $18.36/SF
− Vacancy
−$6.0K −$1.19/SF
EGI
$85.8K $17.17/SF
− OpEx
−$25.7K −$5.15/SF
NOI
$60.1K $12.02/SF
Area
Metairie, LA
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,201,660
Cap Rate 7%
$858,329
Cap Rate 9%
$667,589
Alternative Uses
Best Use
Warehouse
$1.04M
$912.0K – $1.22M
NOI $72,958 @ 7.0% cap · market cap 10.44%
Second Best
Office B
$858.9K
$751.5K – $1.00M
NOI $60,120 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,961 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
2,012
Businesses Nearby
Under-served
Demand for This Use
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Flex space - Combines office areas on two levels with warehouse plumbing, multiple truck doors, and a full kitchen and bath.
Where is this flex space located?
The property is located at 4405 Zenith St Metairie, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 5,000 SF flex property built in 1978; Four upper‑level offices and two lower‑level offices; Three truck doors; front door approximately 14.5' x 12'
