Convenience Store With
For Sale
$950,000
11334 HIGHWAY 23, Belle Chasse, LA 70037
Commercial, Belle Chasse, LA
Property Size3,468 SF
Lot Size4.00 Acres
Price / SF$273.93
Days on Market92
Property Features for 11334 HIGHWAY 23
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
A-2
Lot features
11-20 Acres, 20+ Acres
Subdivision
OAKVILLE
Standard status
Active
APN
1504150-1504210
Size
3,468 SF
Lot size
4.00 Acres
Taxes and HOA fees
Tax Description
1/2 X 40 ON R/DESC R/W OF LA ST HWY 23. BOUNDED ABOVE BY D JEANFREAU & N FLEMING & BELOW BY LANDS NOW OR FORMERLY BELONGING TO HELEN F SLAVICH. COMM BLDG & FREEZER BLDG
Legal Description
1/2 X 40 ON R/DESC R/W OF LA ST HWY 23. BOUNDED ABOVE BY D JEANFREAU & N FLEMING & BELOW BY LANDS NOW OR FORMERLY BELONGING TO HELEN F SLAVICH. COMM BLDG & FREEZER BLDG
Utilities
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Daniel Trosclair
(504) 908-2426
Added: Jun 9
Changed: Aug 19
Last Checked: Sep 8 at 2:06AM
MLS# 2561127
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.
This convenience store and restaurant property combines 4,511 square feet of improvements. The primary building contains 4,255 square feet, including 3,468 square feet of finished and conditioned area with open retail space, two service counters, a walk-in cooler or beer cave, storage, dining space, a commercial kitchen, and two restrooms. An additional 788 square feet provides covered and screened storage or boil space. A detached 256-square-foot walk-in freezer sits beside the main building.
The approximately 4-acre parcel includes an approximately 1-acre operating site. Most of the land is subject to easements for government and right-of-way access. The property is zoned A-2, has public water service, and was built in 1965.
The approximately 4-acre parcel includes an approximately 1-acre operating site. Most of the land is subject to easements for government and right-of-way access. The property is zoned A-2, has public water service, and was built in 1965.
Key Highlights
- 4,511 square feet of combined improvements
- 3,468 square feet of finished / conditioned space in the main building
- 788 square feet of covered / screened in storage / boil 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established commercial property with retail, food-service, storage, and screened outdoor preparation areas.
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; 3,468 square feet of finished / conditioned space in the main building; 788 square feet of covered / screened in storage / boil space
