Two-Story Mixed-Use
New
For Sale
$1,650,000
505 Frisco Ave, Metairie, LA 70005
Two-story configuration includes overhead access, a deli kitchen, and versatile second-floor space.
Property Size7,400 SF
Price / SF$222.97
Days on Market3
Property Features for 505 Frisco Ave
General Information
Standard status
Active
Size
7,400 SF
Building Details
Year Built
1970
Stories
2
Listing Agency:
Iron Horse Land Company
Listed By:
Nancy Collier · License #000048569
(985) 960-0535
Source:
Dominionplace
Added: Sep 21
Last Checked: Sep 22 at 9:54PM
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 Iron Horse Land Company
Investment Insights
Based on property information with market context.
This 7,400-square-foot mixed-use commercial building was constructed in 1970 and spans two stories. The improvements include a new roof, two overhead doors, a conveyor belt, and a deli kitchen. The upper level offers space suited to multiple potential uses.
The property occupies the corner of Frisco Avenue and Nursery Avenue and is visible from Metairie Road. Its combination of commercial building area, overhead access, food-service improvements, and additional second-floor space supports a range of operational configurations.
The property occupies the corner of Frisco Avenue and Nursery Avenue and is visible from Metairie Road. Its combination of commercial building area, overhead access, food-service improvements, and additional second-floor space supports a range of operational configurations.
Key Highlights
- 7,400 SF two‑story mixed‑use commercial building
- New roof and two overhead doors
- Conveyor belt and deli kitchen included
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
$89,910
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
5.45%
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%
$1,798,200
$1.8M
Cap Rate 7%
$1,284,429
$1.3M
Cap Rate 9%
$999,000
$999.0K
Market Conditions
NOI Build-Up for 7,400 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
$159.8K $21.60/SF
− Vacancy
−$16.0K −$2.16/SF
EGI
$143.9K $19.44/SF
− OpEx
−$53.9K −$7.29/SF
NOI
$89.9K $12.15/SF
Area
Metairie, LA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,798,200
Cap Rate 7%
$1,284,429
Cap Rate 9%
$999,000
Alternative Uses
Best Use
Mixed Use
$1.28M
$1.12M – $1.50M
NOI $89,910 @ 7.0% cap · market cap 5.45%
Second Best
Industrial
$1.27M
$1.11M – $1.48M
NOI $88,923 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,303 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story configuration includes overhead access, a deli kitchen, and versatile second-floor space.
Where is this mixed-use property located?
The property is located at 505 Frisco Ave Metairie, LA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 7,400 SF two‑story mixed‑use commercial building; New roof and two overhead doors; Conveyor belt and deli kitchen included
