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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3201 Metairie Ave Metairie, LA 70001

    • Commercial real estate
    • 2,130 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0287454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ellav8te Salon / Hair Salon

    Property Details for 3201 Metairie Ave

    Year built
    1960
    Property size
    2,130 SF
    Property type
    Commercial real estate

    Description

    This exceptional 2,130 square foot commercial property, situated at 3201 N West Metairie Avenue in Metairie, Louisiana, presents a unique investment opportunity. Currently operating as a hair salon, this building boasts a prime corner location at the intersection of N Causeway and W. Metairie, ensuring high visibility and accessibility. Completely remodeled in 2020 to suit its current use, the space is adaptable and ideal for a variety of professional businesses, including but not limited to hair salons, nail salons, or general office spaces. The property's General Office zoning allows for a range of potential uses, providing flexibility for future tenants or owners. The building offers excellent visibility due to its prominent corner location within the bustling heart of Metairie. A current lease agreement is in place, extending until March 15th, 2025, providing immediate income potential for investors. The property sits on a lot with no acreage specified. This is a rare opportunity to acquire a well-maintained, high-visibility commercial property in a desirable Metairie location. The asking price is $2,000. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Metairie
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.15667
    Latitude
    29.97661

    Comparable in this City

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    • $395,000
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      Airline Drive Redevelopment Opportunity

      Prime Metairie location, high redevelopment potential.
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    • $750,000
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      Metairie Commercial Building - $750k

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    • $400,000
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      Metairie Office Building - Great Location

      Prime Office Space, Lease or Buy
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    Similar Nearby for Sale

    • $350,000
      2,700 SF

      Metairie Office Condo: Prime Location

      Updated Office Space, Ideal for Business
      2315 Woodlawn Ave, Metairie, LA 70001
      View Details
    • $750,000
      5,000 SF

      Metairie Commercial Building - $750k

      Versatile 5,000 sq ft commercial space. Ideal for multiple tenants.
      4405 Zenith St, Metairie, LA 70001
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    • $875,000
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      Airline Drive Redevelopment Opportunity

      Prime Metairie location, high redevelopment potential.
      3640 Airline Dr, Metairie, LA 70001
      View Details
    • $400,000
      2,160 SF

      Metairie Office Building - Great Location

      Prime Office Space, Lease or Buy
      612 Clearview Pkwy, Metairie, LA 70001
      View Details
    • $2,300,000
      15,947 SF

      201 Pasadena Ave

      Medical offices • 15,947 SF
      201 Pasadena Ave, Metairie, LA 70001
      View Details
    • $395,000
      1,459 SF

      3045 Lausat St, Metairie, LA 70001

      Commercial real estate • 1,459 SF
      3045 Lausat St, Metairie, LA 70001
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
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      Labarre Business Park Flex Space

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    • $17 SF/Yr
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      Metairie Office Space for Lease

      Office spaces with flexible workspace solutions and customizable layouts available.
      2121 N Causeway Blvd, Metairie, LA 70001
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    • $13 SF/Yr
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      Metairie Office Space: Flex & Sale

      Prime Metairie Office, Flex Space Available
      612 Clearview Pkwy, Metairie, LA 70001
      View Details
    • $7 SF/Yr
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      Industrial Space with Office

      6,000 SF industrial space with 1,040 SF office.
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    3201 Metairie Ave
    Metairie, LA 70001
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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.

    More about this property
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