Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3815 Hessmer Ave Metairie, LA 70002
    Property profile & analytics

    3815 Hessmer Ave, Metairie, LA 70002

    View on Map
    • Office Spaces
    • 9,549 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MicroBrows Permanent Cosmetics / Medical Clinic / Skin Care Clinic
    • Dr. Penelope Treece & Southern Aesthetics / Physician / Medical Clinic
    • Southern Aesthetics / Physician / Medical Clinic

    Property Details for 3815 Hessmer Ave

    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 9,549 square foot office building in Metairie, Louisiana, presents a unique investment opportunity. Located at 3815 Hessmer Ave, this three-story building boasts a versatile layout suitable for various uses, including medical and traditional office spaces. The top floor, previously a large medical office, offers an adaptable design for healthcare professionals or other businesses. The second floor provides a spacious, open area ideal for office settings or event spaces. Convenience is maximized with a ground-level private, covered garage offering 15 parking spots. Accessibility is ensured by an ADA-compliant elevator. Recent improvements include a new roof installed in 2024, minimizing future maintenance concerns. Large floor-to-ceiling windows throughout the building provide ample natural light. Situated in a prime Metairie location, this property offers easy access to I-10 and nearby amenities. The building is zoned FC1 - Fat City Pedestrian-Core District, and its APN is 0820021293. The asking price is $1,700,000, translating to $178.03 per square foot. This property is an excellent choice for businesses seeking a customizable space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.1634
    Latitude
    30.0092

    Comparable in this City

    • Value Estimation by Request
      127,935 SF

      3525 Causeway Blvd

      Medical Office Space
      3525 Causeway Blvd, Metairie, LA 70002
      View Details
    • Value Estimation by Request
      1,548 SF

      3801 Causeway Blvd

      Medical Office Space
      3801 Causeway Blvd, Metairie, LA 70002
      View Details
    • Value Estimation by Request
      37,332 SF

      4051 Veterans Blvd

      Medical Office Space
      4051 Veterans Blvd, Metairie, LA 70002
      View Details
    • Value Estimation by Request

      3749 Causeway Blvd

      Medical Office Space
      3749 Causeway Blvd, Metairie, LA 70002
      View Details
    • Value Estimation by Request

      2622 Metairie Lawn Dr

      Office Spaces
      2622 Metairie Lawn Dr, Metairie, LA 70002
      View Details
    • Value Estimation by Request
      1,215 SF

      3129 Edenborn Ave

      Office Spaces
      3129 Edenborn Ave, Metairie, LA 70002
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      41,160 SF

      Fat City Warehouse Opportunity

      41,160 SF warehouse with office and mezzanine space.
      4305 Hessmer Ave, Metairie, LA 70002
      View Details
    • Contact for pricing

      First-Floor Office Suite

      Move-in ready first-floor office suite with reception, bullpen, private offices, and kitchenette under a modified gross lease.
      2615 Edenborn Ave, Metairie, LA 70002
      View Details
    • Contact for pricing
      11,175 SF

      Office/Warehouse Near Veterans Blvd

      11,175 SF office/warehouse on 12,960 SF site.
      3223 25Th St, Metairie, LA 70002
      View Details
    • Contact for pricing

      Office Building with Remodel in Progress

      Complete remodel in progress with NNN leasing, near major retail and minutes from Veterans Blvd.
      3613 18Th St, Metairie, LA 70002
      View Details
    • Contact for pricing
      2,100 SF

      Metairie Office Space on Veterans

      Highly visible office suite with flexible layout on Veterans Blvd.
      3848 Veterans Blvd, Metairie, LA 70002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,402 SF

      Office Space Available For Rent

      Office space available for lease in Metairie, Louisiana.
      3330 W Esplanade Ave, Metairie, LA 70002
      View Details
    • Contact for pricing
      1,350 SF

      Metairie Office Space For Rent

      Office space for rent featuring modern amenities and flexible floorplans.
      3001 N Arnoult Rd St, Metairie, LA 70002
      View Details
    • Contact for pricing

      Metairie Office Building For Lease

      Ten-story office building with lake and downtown views.
      3525 N Causeway Blvd, Metairie, LA 70002
      View Details
    • Contact for pricing

      Fat City Office/Retail Space

      Commercial building in vibrant Fat City district, ideal for office/retail.
      3613 18Th St, Metairie, LA 70002
      View Details
    • Contact for pricing
      7,160 SF

      Metairie Office/Warehouse Space Available

      Two-story office/warehouse in Metairie, move-in ready after recent renovation.
      3020 20Th St, Metairie, LA 70002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3815 Hessmer Ave
    Metairie, LA 70002
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3815 Hessmer Ave, Metairie, LA, 70002
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!