Building Details

Year built 1964

Floors in Building 1

Listing Agency: RE/MAX Synergy · RE/MAX International j***@gmail.com Show Phone

Listed By: Jeffery Melancon Show Phone

Added: Aug 3 Changed: Aug 19 Last Checked: Sep 1 at 4:06AM

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MLS# 2570388

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.

Investment Insights

Based on property information with market context.

Located at 33 St. Charles Street in Norco, this 6,390-square-foot flex property combines an adaptable commercial building with a large adjacent vacant lot. The interior configuration can support retail, office, showroom, warehouse, or storage functions, subject to applicable requirements. On-site parking serves customers and employees, while the adjoining lot adds usable outdoor area for parking, display, expansion, or future development. Constructed in 1964, the property has a public water source and carries C-2 zoning. Its Norco location places the asset within St. Charles Parish and provides a flexible base for a range of commercial operations.

Key Highlights

• 6,390‑square‑foot flex property
• Large adjacent vacant lot included
• C‑2 zoning

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

$51,393

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

7.35%

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%

$1,027,860 $1.0M

Cap Rate 7%

$734,186 $734.2K

Cap Rate 9%

$571,033 $571.0K

Market Conditions

NOI Build-Up for 6,390 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

$63.6K $9.96/SF

− Vacancy

−$3.2K −$0.50/SF

EGI

$60.5K $9.46/SF

− OpEx

−$9.1K −$1.42/SF

NOI

$51.4K $8.04/SF

Area

St. Charles County, LA

Vacancy

5.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

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%

$1,027,860

Cap Rate 7%

$734,186

Cap Rate 9%

$571,033

Alternative Uses

Best Use

Warehouse

$734.2K

$642.4K – $856.6K (±1% cap)

NOI $51,393 @ 7.0% cap · market cap 7.35%

Second Best

Flex RnD

$669.3K

$585.6K – $780.9K (±1% cap)

NOI $46,851 @ 7.0% cap · market cap 6.70%

Theoretical Best

Office A

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,011 @ 7.0% cap · market cap 16.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

7

Businesses Nearby

Explore this area Business Placement

Demographics for 70079, LA

2,970

Population

1,349

Households

2.2

Avg Household Size

39

Median Age

19%

College-Educated

86%

High-School Grad

1.8 sq mi

ZIP Area

1,650

Density / Sq Mi

$71,250

Median Household Income

$54,766

Median Earnings

$1,089

Median Rent

$232,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space 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?

Flex space - C-2 zoning, on-site parking, and a flexible layout support retail, office, showroom, warehouse, or storage functions.

Where is this flex space located?

The property is located at 33 ST. CHARLES Norco, LA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 6,390‑square‑foot flex property; Large adjacent vacant lot included; C‑2 zoning