C1 Retail
For Sale
$1,250,000
609 Metairie Rd, Metairie, LA 70005
Street-facing commercial space along an established corridor with nearby retail, dining, and neighborhood-serving businesses.
Property Size5,595 SF
Price / SF$223.41
Days on Market126
Property Features for 609 Metairie Rd
General Information
Standard status
Active
Size
5,595 SF
Property subtype
Retail
Zoning
C1
Listing Agency:
Property One Inc New Orleans
(504) 206-7786
Listed By:
Meghan Reed · License #0000006690
(504) 206-7786
Source:
Lacdb.resimplifi
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 4:44PM
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 5,595-square-foot storefront property is configured for retail or office use and carries C1 zoning. The asset fronts Metairie Road at 609 Metairie Rd in Metairie, Louisiana, providing a visible commercial presence along the corridor.
The surrounding area includes local retailers, restaurants, and neighborhood-serving businesses. Its Old Metairie setting places the property within an established commercial submarket of the Greater New Orleans area.
The surrounding area includes local retailers, restaurants, and neighborhood-serving businesses. Its Old Metairie setting places the property within an established commercial submarket of the Greater New Orleans area.
Key Highlights
- 5,595‑square‑foot storefront property
- C1 zoning supports the existing commercial asset classification
- Retail or office use configuration
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
Office B
$961.1K
$840.9K – $1.12M
NOI $67,274 @ 7.0% cap · market cap 5.38%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Under-served
Demand for This Use
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?
Storefront property - Street-facing commercial space along an established corridor with nearby retail, dining, and neighborhood-serving businesses.
Where is this storefront property located?
The property is located at 609 Metairie Rd 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: 5,595‑square‑foot storefront property; C1 zoning supports the existing commercial asset classification; Retail or office use configuration
