Retail/Office Storefront
For Sale
Contact for pricing
609-611 Metairie Road, Metairie, LA 70005
Two storefront-style spaces are available along Metairie Road in the Greater New Orleans area.
Property Size5,595 SF
Price / SF$223.41
Days on Market124
Property Features for 609-611 Metairie Road
General Information
Standard status
Active
Size
5,595 SF
Property subtype
Retail
Investment Type
Owner/User
Listing Agency:
Property One Inc
Listed By:
Matt Taylor · License #LA 0000006690
(504) 343-3428
Source:
Crexi
Added: May 5
Changed: Aug 24
Last Checked: Sep 2 at 3:19AM
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
Investment Insights
Based on property information with market context.
This retail/office storefront property is positioned along the Metairie Road corridor. It presents a mixed retail and office asset format and is offered for sale as a long-term hold option.
The property is located at 609-611 Metairie Road in Metairie, Louisiana. Public remarks describe the surrounding area as featuring a strong mix of local retailers, dining, and neighborhood-serving businesses.
The offering includes two addresses (609-611), supporting a flexible setup for an owner-occupant or an investor interested in a retail/office configuration in an established submarket.
The property is located at 609-611 Metairie Road in Metairie, Louisiana. Public remarks describe the surrounding area as featuring a strong mix of local retailers, dining, and neighborhood-serving businesses.
The offering includes two addresses (609-611), supporting a flexible setup for an owner-occupant or an investor interested in a retail/office configuration in an established submarket.
Key Highlights
- Two storefront‑style spaces available along Metairie Road (Greater New Orleans area)
- Retail/office asset positioned on the Metairie Road corridor
- Located in the Old Metairie submarket area
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
5.61%
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 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,715 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
CC's Coffee House
Dining
8,933 visits/mo
0.1 miles
PJ's Coffee of New Orleans
Dining
5,593 visits/mo
0.2 miles
Hallmark
Shops & Services
4,178 visits/mo
0.2 miles
BankPlus
Shops & Services
2,424 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two storefront-style spaces are available along Metairie Road in the Greater New Orleans area.
Where is this storefront property located?
The property is located at 609-611 Metairie Road Metairie, LA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two storefront‑style spaces available along Metairie Road (Greater New Orleans area); Retail/office asset positioned on the Metairie Road corridor; Located in the Old Metairie submarket area
