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    Light Commercial Upstairs Office Suite Title is generated by Realmo AI

    749 AURORA Avenue, Metairie, LA 70005

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    For Lease
    $1,400/Mo $21 SF/Yr (calc)

    SINGLE_FAMILY - Metairie, LA

    Type:Office
    Property size:
    800 SF
    Added:
    May 25, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 749 AURORA Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking features
    Off Street
    Exterior features
    Balcony, Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    UNK
    Size
    800 SF

    Taxes and HOA fees

    Expense value
    1400
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    2

    We can help!

    Listing Contact
    Ingrid Garvey

    Listing agent Ingrid Garvey

    Listing office Homesmart Realty South 3131 N I-10 Service Rd, #101, New Orleans, LA

    Listing date May 25, 2026

    MLS# 2559964

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Upstairs light commercial suite in a solid, well‑built 6‑unit brick building (built 1985)
    • 800 SF of front and back office space plus a bathroom
    • Central heating and central air; high‑grade carpeting and tall windows
    • Balcony and fenced property; iron stairs on both ends for entry from either side
    • On‑site off‑street parking
    • Owner pays water, trash pickup, and security; tenant pays water and internet; 2–3 year lease with renewal options

    Overview

    This upstairs office suite is located in a solid, well-built six-unit brick building. The space includes approximately 800 square feet of front and back office areas, a bathroom, and tall windows designed to keep the suite feeling open and airy. Commercial, high-grade carpeting helps reduce echo, and the suite also features a balcony. Access is provided via iron stairs on both ends of the building, allowing entry from either side, and on-site parking is available for occupants and visitors.

    The building is in the heart of Metairie, Louisiana and is described as one building off Veterans, just behind an auto supply business at Bonnabel. The location offers easy access to the interstate as well as nearby banks and restaurants.

    The suite is zoned light commercial, making it suitable for office-based users seeking a manageable, well-appointed space with on-site parking and straightforward building access. The owner pays water, trash pickup, and security, while the tenant is responsible for water and internet. A two- to three-year lease term with renewal options is available, and the building is currently described as having long-term tenants in multiple suites.
    Location Intelligence

    Current Use by Public Records

    Paul Scaffidi: Allstate ... Insurance Agency Edward Jones - Financial ... Financial Advisor Curren & Landrieu LLC Law Firm Grande Pointe Properties Real Estate Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.1399535
    Latitude
    30.0011691

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    FAQs

    What type of property is this?
    Office units - Upstairs office suite with front and back offices, private bath, and balcony in a six-unit brick building.
    Where is this office units located?
    The property is located at 749 AURORA Avenue Metairie, LA.
    What is the lease rate?
    The lease rate is $1,400 /Mo.
    What are key features of this property?
    This property features: Upstairs light commercial suite in a solid, well‑built 6‑unit brick building (built 1985); 800 SF of front and back office space plus a bathroom; Central heating and central air; high‑grade carpeting and tall windows
    (504) 908-5037
    We can help!
    Listing Contact
    Ingrid Garvey
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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