Flex Space with
For Sale
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4717 Airline Dr, Metairie, LA 70001
C-2-zoned commercial property combines customer-facing space, private offices, storage, and enclosed and open-air warehouse areas.
Property Size14,160 SF
Price / SF$139.48
Days on Market57
Property Features for 4717 Airline Dr
General Information
Standard status
Active
Size
14,160 SF
Property subtype
Industrial, Retail
Zoning
C-2
Building Details
Year Built
2010
Year Renovated
2022
Buildings
1
Stories
2
Listing Agency:
The McEnery Company
(504) 250-3059
Listed By:
Parke McEnery · License #LA
Source:
Crexi
Added: Jul 7
Changed: Aug 31
Last Checked: Sep 1 at 6:36PM
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 The McEnery Company
Investment Insights
Based on property information with market context.
This flex property includes approximately 14,160 square feet of improvements on approximately 0.91 acres. The configuration combines a retail showroom with second-floor private offices, multiple restrooms, storage areas, and substantial warehouse space. Enclosed and open-air warehouse areas are supported by covered canopies at the front and rear. The original improvements date to 2010, with additional warehouse work completed in 2022.
The property has frontage on Zinnia Avenue and includes on-site parking. Its existing layout accommodates retail, office, warehousing, distribution, light industrial, and other commercial operations. C-2 zoning further identifies the site's commercial land-use classification. The property is located at 4717 Airline Dr, Metairie, LA 70001.
The property has frontage on Zinnia Avenue and includes on-site parking. Its existing layout accommodates retail, office, warehousing, distribution, light industrial, and other commercial operations. C-2 zoning further identifies the site's commercial land-use classification. The property is located at 4717 Airline Dr, Metairie, LA 70001.
Key Highlights
- Approximately 14,160 square feet of improvements on approximately 0.91 acres
- Retail showroom with second‑floor private offices and multiple restrooms
- Enclosed and open‑air warehouse areas with front and rear covered canopies
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
$177,405
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
8.98%
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%
$3,548,100
$3.5M
Cap Rate 7%
$2,534,357
$2.5M
Cap Rate 9%
$1,971,167
$2.0M
Market Conditions
NOI Build-Up for 14,160 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
$266.8K $18.84/SF
− Vacancy
−$13.3K −$0.94/SF
EGI
$253.4K $17.90/SF
− OpEx
−$76.0K −$5.37/SF
NOI
$177.4K $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%
$3,548,100
Cap Rate 7%
$2,534,357
Cap Rate 9%
$1,971,167
Alternative Uses
Best Use
Warehouse
$2.95M
$2.58M – $3.44M
NOI $206,617 @ 7.0% cap · market cap 10.46%
Second Best
Retail
$2.53M
$2.22M – $2.96M
NOI $177,405 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,115 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C-2-zoned commercial property combines customer-facing space, private offices, storage, and enclosed and open-air warehouse areas.
Where is this flex space located?
The property is located at 4717 Airline Dr Metairie, LA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Approximately 14,160 square feet of improvements on approximately 0.91 acres; Retail showroom with second‑floor private offices and multiple restrooms; Enclosed and open‑air warehouse areas with front and rear covered canopies
