Flex Space with
For Sale
$1,975,000
4717 Airline Hwy, Metairie, LA 70001
Versatile commercial improvements combine showroom, offices, warehouse areas, storage, and covered canopies under C2 zoning.
Property Size14,160 SF
Lot Size0.91 Acres
Price / SF$139.48
Days on Market69
Property Features for 4717 Airline Hwy
General Information
Standard status
Active
Size
14,160 SF
Lot size
0.91 Acres
Property subtype
Industrial
Zoning
C2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2010
Year Renovated
2022
Stories
2
Listing Agency:
The McEnery Company Inc
(504) 236-9542
Listed By:
S. McEnery · License #0099563766
(504) 236-9542
Source:
Lacdb.resimplifi
Added: Jun 23
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
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 The McEnery Company Inc
Investment Insights
Based on property information with market context.
This flex space includes approximately 14,160 square feet of improvements arranged for varied commercial operations. The property combines a retail showroom, second-floor offices with private rooms, multiple restrooms, storage, and warehouse areas. Enclosed and open-air warehouse components 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 occupies approximately 0.91 acres, or ±39,513 SF, with frontage along both Airline Highway and Zinnia Avenue. Multiple access points support circulation across the site, while on-site parking accommodates employees, customers, and commercial vehicles. C2 zoning and the combination of retail, office, storage, and warehouse improvements provide a broad commercial configuration.
The property occupies approximately 0.91 acres, or ±39,513 SF, with frontage along both Airline Highway and Zinnia Avenue. Multiple access points support circulation across the site, while on-site parking accommodates employees, customers, and commercial vehicles. C2 zoning and the combination of retail, office, storage, and warehouse improvements provide a broad commercial configuration.
Key Highlights
- Approximately 14,160 square feet of improvements
- Approximately 0.91 acres, or ±39,513 SF
- Frontage on both Airline Highway and Zinnia Avenue
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
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
877
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial improvements combine showroom, offices, warehouse areas, storage, and covered canopies under C2 zoning.
Where is this flex space located?
The property is located at 4717 Airline Hwy 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; Approximately 0.91 acres, or ±39,513 SF; Frontage on both Airline Highway and Zinnia Avenue
