Food Manufacturing
New
For Sale
Contact for pricing
111 23RD ST, Kenner, LA 70062
Purpose-built facility supporting bakery production, food manufacturing, wholesale distribution, and retail operations.
Property Size10,180 SF
Lot Size0.39 Acres
Price / SF$294.70
Days on Market6
Property Features for 111 23RD ST
General Information
Standard status
Active
Size
10,180 SF
Lot size
0.39 Acres
Property subtype
Retail, Business for Sale
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Units
1
Tenancy
Single
Listing Agency:
The Agency of M. Grass Group
(504) 644-4127
Listed By:
Matthew Grass · License #LA 23286
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 7:11PM
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 The Agency of M. Grass Group
Investment Insights
Based on property information with market context.
This 10,180-square-foot manufacturing property includes a commercial bakery and food production facility on approximately 16,800 square feet of land. The improvements are configured for bakery production and broader food manufacturing, with a layout that also supports wholesale distribution and retail operations.
The sale includes an established operating business along with the real estate. Additional food-service concepts may be accommodated within the facility, subject to the buyer’s plans and applicable requirements. Business name, financial information, equipment inventory, operational details, and other documentation are available to qualified prospective purchasers after execution of a confidentiality agreement. Showings and inquiries must be coordinated through the listing broker.
The sale includes an established operating business along with the real estate. Additional food-service concepts may be accommodated within the facility, subject to the buyer’s plans and applicable requirements. Business name, financial information, equipment inventory, operational details, and other documentation are available to qualified prospective purchasers after execution of a confidentiality agreement. Showings and inquiries must be coordinated through the listing broker.
Key Highlights
- 10,180 SF commercial bakery and food production facility
- Approximately 16,800 SF of land
- Sale includes the established operating business and real estate
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
$172,392
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
5.75%
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%
$3,447,840
$3.4M
Cap Rate 7%
$2,462,743
$2.5M
Cap Rate 9%
$1,915,467
$1.9M
Market Conditions
NOI Build-Up for 10,180 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
$234.5K $23.04/SF
− Vacancy
−$4.7K −$0.46/SF
EGI
$229.9K $22.58/SF
− OpEx
−$57.5K −$5.64/SF
NOI
$172.4K $16.93/SF
Area
Jefferson County, LA
Vacancy
2.00%
Lease Rate
$23.04 /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%
$3,447,840
Cap Rate 7%
$2,462,743
Cap Rate 9%
$1,915,467
Alternative Uses
Best Use
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $172,392 @ 7.0% cap · market cap 5.75%
Second Best
Industrial
$870.4K
$761.6K – $1.02M
NOI $60,927 @ 7.0% cap · market cap 2.03%
Theoretical Best
Office A
$2.69M
$2.35M – $3.13M
NOI $188,004 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
Business Placement
Demographics for 70062, LA
16,627
Population
6,679
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
7.1 sq mi
ZIP Area
2,342
Density / Sq Mi
$55,293
Median Household Income
$33,499
Median Earnings
$1,150
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Purpose-built facility supporting bakery production, food manufacturing, wholesale distribution, and retail operations.
Where is this manufacturing property located?
The property is located at 111 23RD ST Kenner, LA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 10,180 SF commercial bakery and food production facility; Approximately 16,800 SF of land; Sale includes the established operating business and real estate
