Grocery Store with
For Sale
$950,000
11334 Highway 23, Belle Chasse, LA 70037
Combined retail, dining, kitchen, storage, and freezer improvements serve convenience-store and food-service operations.
Property Size3,468 SF
Lot Size1.00 Acre
Price / SF$273.93
Days on Market8
Property Features for 11334 Highway 23
General Information
Standard status
Active
Size
3,468 SF
Lot size
1.00 Acre
Additional Details
Business Included
Yes
Building Details
Year Built
1965
Buildings
2
Listing Agency:
Homesmart Realty South
(504) 908-2426
Listed By:
Daniel Trosclair
Source:
Dominionplace
Added: Aug 21
Changed: Aug 27
Last Checked: Aug 28 at 12:42PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This grocery and convenience property includes 4,511 square feet of combined improvements, with a 4,255-square-foot main building and a detached 256-square-foot walk-in freezer. The primary structure contains 3,468 square feet of finished and conditioned area arranged for open retail, two service counters, a walk-in cooler or beer cave, storage, dining, a commercial kitchen, and two restrooms. An additional 788 square feet provides covered and screened storage or boil space.
Constructed in 1965, the property is located at 11334 Highway 23 in Belle Chasse, Louisiana. Approximately 1 acre is used for the main site, while much of the land is subject to easements for government and right-of-way access.
Constructed in 1965, the property is located at 11334 Highway 23 in Belle Chasse, Louisiana. Approximately 1 acre is used for the main site, while much of the land is subject to easements for government and right-of-way access.
Key Highlights
- 4,511 square feet of combined improvements
- 4,255‑square‑foot main building plus detached 256‑square‑foot walk‑in freezer
- 3,468 square feet of finished and conditioned space
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
$58,728
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
6.18%
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%
$1,174,560
$1.2M
Cap Rate 7%
$838,971
$839.0K
Cap Rate 9%
$652,533
$652.5K
Market Conditions
NOI Build-Up for 3,468 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
$79.9K $23.04/SF
− Vacancy
−$1.6K −$0.46/SF
EGI
$78.3K $22.58/SF
− OpEx
−$19.6K −$5.64/SF
NOI
$58.7K $16.93/SF
Area
Plaquemines 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%
$1,174,560
Cap Rate 7%
$838,971
Cap Rate 9%
$652,533
Alternative Uses
Best Use
Specialty Retail
$839.0K
$734.1K – $978.8K
NOI $58,728 @ 7.0% cap · market cap 6.18%
Second Best
Retail
$783.0K
$685.2K – $913.6K
NOI $54,813 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$915.0K
$800.6K – $1.07M
NOI $64,047 @ 7.0% cap · market cap 6.74%
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
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70037, LA
16,262
Population
6,682
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
91%
High-School Grad
49.9 sq mi
ZIP Area
326
Density / Sq Mi
$92,193
Median Household Income
$45,608
Median Earnings
$1,650
Median Rent
$350,000
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 - Combined retail, dining, kitchen, storage, and freezer improvements serve convenience-store and food-service operations.
Where is this grocery and convenience store located?
The property is located at 11334 Highway 23 Belle Chasse, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,511 square feet of combined improvements; 4,255‑square‑foot main building plus detached 256‑square‑foot walk‑in freezer; 3,468 square feet of finished and conditioned space
