Multi-Suite Office
For Sale
$1,580,000
804 & 808 N Causeway Boulevard, Metairie, LA 70001
Four buildings provide private offices, reception areas, conference rooms, kitchens, restrooms, and shared lobby space.
Property Size8,485 SF
Lot Size0.28 Acres
Price / SF$186.21
Days on Market41
Property Features for 804 & 808 N Causeway Boulevard
General Information
Standard status
Active
Size
8,485 SF
Lot size
0.28 Acres
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
15
Building Details
Year Built
1954
Buildings
4
Tenancy
Multi
Listing Agency:
United Real Estate Partners LLC
(504) 239-1570
Listed By:
Patricia Rodgers · License #000013689
Source:
Dominionplace
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 25 at 4:25AM
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 United Real Estate Partners LLC
Investment Insights
Based on property information with market context.
This office property comprises four buildings totaling 8,485 square feet on a 100' x 120' lot. The buildings were constructed in 1954 and include multiple private offices, reception and lobby areas, conference rooms, kitchen areas, storage space, and restrooms. One building contains five individual office suites with a common lobby and restroom, while another offers four offices, reception, a conference room, kitchen area, and restroom. The remaining two buildings provide additional office suites with reception, conference or storage space, kitchen areas, and restrooms.
The property occupies the corner of W. Metairie Ave. South and N. Causeway and includes 804 N. Causeway Blvd., 808 N. Causeway Blvd., 3202 W. Metairie Ave. South, and 3204 W. Metairie Ave. South. Most tenants pay electricity, while the owner pays for water.
The property occupies the corner of W. Metairie Ave. South and N. Causeway and includes 804 N. Causeway Blvd., 808 N. Causeway Blvd., 3202 W. Metairie Ave. South, and 3204 W. Metairie Ave. South. Most tenants pay electricity, while the owner pays for water.
Key Highlights
- 8,485‑square‑foot office property on a 100' x 120' lot
- Four office buildings at 804, 808 N. Causeway Blvd., 3202 and 3204 W. Metairie Ave. South
- Five individual office suites with a common lobby and restroom at 804 N. Causeway
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
$102,024
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
6.46%
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%
$2,040,480
$2.0M
Cap Rate 7%
$1,457,486
$1.5M
Cap Rate 9%
$1,133,600
$1.1M
Market Conditions
NOI Build-Up for 8,485 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
$170.0K $20.04/SF
− Vacancy
−$34.0K −$4.01/SF
EGI
$136.0K $16.03/SF
− OpEx
−$34.0K −$4.01/SF
NOI
$102.0K $12.02/SF
Area
Metairie, LA
Vacancy
20.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$2,040,480
Cap Rate 7%
$1,457,486
Cap Rate 9%
$1,133,600
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,024 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,089 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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?
Office building - Four buildings provide private offices, reception areas, conference rooms, kitchens, restrooms, and shared lobby space.
Where is this office building located?
The property is located at 804 & 808 N Causeway Boulevard Metairie, LA.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: 8,485‑square‑foot office property on a 100' x 120' lot; Four office buildings at 804, 808 N. Causeway Blvd., 3202 and 3204 W. Metairie Ave. South; Five individual office suites with a common lobby and restroom at 804 N. Causeway
