Retail Office
For Sale
Contact for pricing
609-611 Metairie Rd, Metairie, LA 70005
Mixed retail and office building for sale on Metairie Road with a total area of 5,595 square feet.
Property Size5,595 SF
Price / SF$268.10
Days on Market111
Property Features for 609-611 Metairie Rd
General Information
Standard status
Active
Size
5,595 SF
Property subtype
RETAIL
Listing Agency:
Property One Inc New Orleans
(504) 206-7786
Listed By:
Meghan Reed · License ##995697077
(504) 206-7786
Source:
Moodyscre
Added: May 5
Changed: Aug 17
Last Checked: Aug 22 at 1:24PM
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 Property One Inc New Orleans
Investment Insights
Based on property information with market context.
This mixed retail and office building for sale is positioned along Metairie Road in Metairie, Louisiana. The property provides a combined retail/office setup totaling 5,595 square feet, offering flexibility for an owner-operator or an investor looking for a long-term hold.
The offering is described as having a strong presence along this established corridor, with visibility to passing traffic. It is surrounded by a mix of local retailers, dining, and neighborhood-serving businesses, supporting its continued neighborhood commercial appeal.
Suitable for either owner-user occupancy or investment, the building’s configuration supports multiple retail and office uses within one asset.
The offering is described as having a strong presence along this established corridor, with visibility to passing traffic. It is surrounded by a mix of local retailers, dining, and neighborhood-serving businesses, supporting its continued neighborhood commercial appeal.
Suitable for either owner-user occupancy or investment, the building’s configuration supports multiple retail and office uses within one asset.
Key Highlights
- Mixed retail and office building for sale on Metairie Road in Greater New Orleans
- Total building area is 5,595 SF
- Located along the Metairie Road corridor with a surrounding mix of local retailers, dining, and neighborhood‑serving businesses
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
$70,098
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
4.67%
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%
$1,401,960
$1.4M
Cap Rate 7%
$1,001,400
$1.0M
Cap Rate 9%
$778,867
$778.9K
Market Conditions
NOI Build-Up for 5,595 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
$105.4K $18.84/SF
− Vacancy
−$5.3K −$0.94/SF
EGI
$100.1K $17.90/SF
− OpEx
−$30.0K −$5.37/SF
NOI
$70.1K $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%
$1,401,960
Cap Rate 7%
$1,001,400
Cap Rate 9%
$778,867
Alternative Uses
Best Use
Retail
$1.00M
$876.2K – $1.17M
NOI $70,098 @ 7.0% cap · market cap 4.67%
Second Best
Office B
$961.1K
$840.9K – $1.12M
NOI $67,274 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,715 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property 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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Mixed retail and office building for sale on Metairie Road with a total area of 5,595 square feet.
Where is this retail space located?
The property is located at 609-611 Metairie Rd Metairie, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mixed retail and office building for sale on Metairie Road in Greater New Orleans; Total building area is 5,595 SF; Located along the Metairie Road corridor with a surrounding mix of local retailers, dining, and neighborhood‑serving businesses
