Grocery Store with Commercial
For Sale
$769,900
111 Cran Dr, Buras, LA 70041
Long-running food store sale includes inventory and extensive deli/meat cooking equipment on-site.
Property Size8,000 SF
Lot Size3.00 Acres
Price / SF$96.24
Days on Market134
Property Features for 111 Cran Dr
General Information
Standard status
Active
Size
8,000 SF
Lot size
3.00 Acres
Additional Details
Business Included
Yes
Utilities to Site
Yes
Multifamily Units
1
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(985) 351-6463
Listed By:
Katelyn Pfister · License #995688944
(985) 351-6463
Source:
Exprealty
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 11 at 10:45AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
This sale features a grocery and convenience store with a built-in commercial food service operation. The back kitchen houses multiple refrigeration and freezer units, including two 3-door freezers and a 7-foot deep freezer, along with a deli fridge and meat fridge. The equipment list also includes two deep fryers, a griddle, multiple cooktops, a sandwich prep station, a triple-basin industrial sink, an ice machine, and a steam table with a large warmer. The store includes 18 cooler doors and three total bathrooms.
The property is seated on 3 acres, with an additional adjacent 7 acres available. Public water and sewer service are in place. Residential rental units consisting of a 1 bed/1 bath configuration are located to the rear and will remain with the property.
For an owner-operator or buyer looking to continue a full-service food store format, the business is being offered with all inventory included in the sale and with the core deli and cooking equipment already on-site. The combination of retail space, substantial refrigerated capacity, and established in-store kitchen assets may help reduce the need for immediate buildout or equipment replacement.
The property is seated on 3 acres, with an additional adjacent 7 acres available. Public water and sewer service are in place. Residential rental units consisting of a 1 bed/1 bath configuration are located to the rear and will remain with the property.
For an owner-operator or buyer looking to continue a full-service food store format, the business is being offered with all inventory included in the sale and with the core deli and cooking equipment already on-site. The combination of retail space, substantial refrigerated capacity, and established in-store kitchen assets may help reduce the need for immediate buildout or equipment replacement.
Key Highlights
- Family‑owned food store on 3 acres, with an additional adjacent 7 acres available
- Sale includes all inventory
- Extensive deli/meat cooking equipment on‑site including 2 walk‑in style 3‑door freezers, 7ft deep freezer, and deli/meat fridges
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
$47,880
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
6.22%
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%
$957,600
$957.6K
Cap Rate 7%
$684,000
$684.0K
Cap Rate 9%
$532,000
$532.0K
Market Conditions
NOI Build-Up for 8,000 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
$72.0K $9.00/SF
− Vacancy
−$3.6K −$0.45/SF
EGI
$68.4K $8.55/SF
− OpEx
−$20.5K −$2.56/SF
NOI
$47.9K $5.98/SF
Area
Plaquemines County, LA
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$957,600
Cap Rate 7%
$684,000
Cap Rate 9%
$532,000
Alternative Uses
Best Use
Specialty Retail
$1.94M
$1.69M – $2.26M
NOI $135,475 @ 7.0% cap · market cap 17.60%
Second Best
Retail
$1.81M
$1.58M – $2.11M
NOI $126,444 @ 7.0% cap · market cap 16.42%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,744 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70041, LA
2,675
Population
1,318
Households
2
Avg Household Size
41
Median Age
4%
College-Educated
58%
High-School Grad
30.6 sq mi
ZIP Area
87
Density / Sq Mi
$35,263
Median Household Income
$32,628
Median Earnings
$928
Median Rent
$74,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Long-running food store sale includes inventory and extensive deli/meat cooking equipment on-site.
Where is this grocery and convenience store located?
The property is located at 111 Cran Dr Buras, LA.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Family‑owned food store on 3 acres, with an additional adjacent 7 acres available; Sale includes all inventory; Extensive deli/meat cooking equipment on‑site including 2 walk‑in style 3‑door freezers, 7ft deep freezer, and deli/meat fridges
