Listing Agency: Property One Inc New Orleans

Listed By: Meghan Reed · License ##995697077 Show Phone

Source: Lacdb.resimplifi

Added: Apr 28 Changed: Oct 13 Last Checked: Oct 14 at 7:44PM

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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.

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 / Yr

$70,098

Cap Rate

5.61%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $70,098 @ 7.0% cap · market cap 5.61%

Second Best

Office B

$961.1K

$840.9K – $1.12M (±1% cap)

NOI $67,274 @ 7.0% cap · market cap 5.38%

Theoretical Best

Office A

$1.31M

$1.15M – $1.53M (±1% cap)

NOI $91,715 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dreamhouse Productions Employment Agency Fisher Kelly Renovations ... General Contractor Rachael Kuivinen Photography Photography Service DIGITAL STRATEGIC SOLUTIONS Advertising Agency Gracia Design Marketing & Advertising

Suggested Use

Top Pick Building Supply Parking Lot & Garage Barber Shop Grocery & Convenience Store Furniture & Home Goods Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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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