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    Convenience Store and Gas Station Title is generated by Realmo AI

    1266 Grimmett Drive, Shreveport, LA 71107

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    For Sale
    $149,900

    COMMERCIAL - Shreveport, LA

    Lot size:
    0.48 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    36
    Last Refresh:
    Jun 3 at 6:06 am

    Property Features for 1266 Grimmett Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Open
    Standard status
    Active
    APN
    181423000005300
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Description
    A TR OF LAND IN FRL SEC 23 & SEC 24-18-14 PER
    Tax Annual Amount
    3006

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Concrete
    Building materials
    Concrete, TiltUp

    We can help!

    Listing Contact
    Michael Salter

    Listing agent Michael Salter License #0000012182

    Listing office Century 21 Elite Shreveport, LA

    Listing date Apr 29, 2026

    MLS# 21246040

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Concrete/TiltUp construction with tile and concrete flooring
    • Year built 1970; public water and public sewer
    • Current zoning approvals include a convenience store and/or gas station
    • Also zoned for storage facilities
    • Tanks and gas pumps are in working condition
    • Building includes an existing deli operation that previously did $100,000 annually in food sales

    Overview

    This property is a commercial site designed to support convenience and fueling activity, with gas tanks and gas pumps currently in working condition. A deli operation previously generated substantial food sales, and the site is also approved for convenience store and/or gas station under existing zoning. In addition to retail convenience use, the property is zoned for storage facilities, offering a secondary option for prospective operators. While the fuel equipment is functional, the building itself needs some work.

    The surrounding area includes well-established businesses, which can support day-to-day customer traffic for a convenience or fueling concept. With existing site approvals and working fuel infrastructure, the property is positioned for an operator looking to re-activate or refresh an on-site food and convenience component.

    For buyers, this is a practical fit for an owner-operator seeking a convenience store and gas station platform, particularly given the confirmed ability to operate under the current zoning rules. It may also appeal to investors or tenants interested in a mixed-use approach that incorporates storage facility use alongside a convenience or fueling presence, subject to final compliance with zoning requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shreveport
    County
    Caddo
    State
    Louisiana
    Longitude
    -93.763581
    Latitude
    32.534491

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    FAQs

    What type of property is this?
    Gas station - Approved for convenience store or gas station use, with working pumps and tanks, and additional storage facility zoning.
    Where is this gas station located?
    The property is located at 1266 Grimmett Drive Shreveport, LA.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: Concrete/TiltUp construction with tile and concrete flooring; Year built 1970; public water and public sewer; Current zoning approvals include a convenience store and/or gas station
    (318) 868-3600
    We can help!
    Listing Contact
    Michael Salter
    Real Estate License ID: 0000012182
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    1266 Grimmett Drive, Shreveport, LA 71107
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