Mixed-Use Building with
For Sale
$540,000
1-3-2801 Loyola Dr, Kenner, LA 70065
Condo building with shared parking and options to purchase equipment with or without the structure.
Property Size2,300 SF
Price / SF$234.78
Days on Market533
Property Features for 1-3-2801 Loyola Dr
General Information
Standard status
Active
Size
2,300 SF
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 338-5731
Listed By:
Latasha Johnson - Oliver
(504) 338-5731
Source:
Exprealty
Added: Mar 7, 2025
Changed: Aug 22
Last Checked: Aug 22 at 11:31AM
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 property is a condo-style commercial building offered for sale with shared parking. Public remarks indicate the existing setup can support multiple concepts, and the equipment may be sold with or without the building; the owner will remove restaurant equipment for a negotiated offer. The listing also notes that any non-refundable down payment may apply if the seller is required to remove equipment, subject to offer terms.
The building is described as being along the route to Louis Armstrong Airport, and parking is shared with other users. Condo fees are listed at $1,996.45 per month ($7,985.80 annually), and the remarks state the fees include items such as water, electricity, trash, lawn and dumpster maintenance, and insurance of the property.
The property is presented as a flexible space with the operational history or configuration associated with restaurant-related equipment, while also allowing for alternative uses as discussed in the remarks.
The building is described as being along the route to Louis Armstrong Airport, and parking is shared with other users. Condo fees are listed at $1,996.45 per month ($7,985.80 annually), and the remarks state the fees include items such as water, electricity, trash, lawn and dumpster maintenance, and insurance of the property.
The property is presented as a flexible space with the operational history or configuration associated with restaurant-related equipment, while also allowing for alternative uses as discussed in the remarks.
Key Highlights
- Condo building with shared parking and options to purchase equipment with or without the structure
- Condo fees are $1,996.45 monthly ($7,985.80 yearly)
- Condo fees include water, electricity, trash, lawn and dumpster maintenance, and property insurance
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
$38,949
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
7.21%
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%
$778,980
$779.0K
Cap Rate 7%
$556,414
$556.4K
Cap Rate 9%
$432,767
$432.8K
Market Conditions
NOI Build-Up for 2,300 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
$53.0K $23.04/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$51.9K $22.58/SF
− OpEx
−$13.0K −$5.64/SF
NOI
$38.9K $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%
$778,980
Cap Rate 7%
$556,414
Cap Rate 9%
$432,767
Alternative Uses
Best Use
Specialty Retail
$556.4K
$486.9K – $649.2K
NOI $38,949 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$606.8K
$531.0K – $707.9K
NOI $42,476 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
14k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Electronics 20%
Beauty & Spa 6%
Waffle House
Dining
5,642 visits/mo
0.3 miles
SUBWAY
Dining
3,630 visits/mo
0.4 miles
T-Mobile
Electronics
2,891 visits/mo
0.4 miles
Pizza Hut
Dining
1,325 visits/mo
0.4 miles
Supercuts
Beauty & Spa
871 visits/mo
0.4 miles
Demographics for 70065, LA
51,484
Population
21,890
Households
2.4
Avg Household Size
40
Median Age
32%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
6,436
Density / Sq Mi
$65,899
Median Household Income
$41,058
Median Earnings
$1,123
Median Rent
$255,800
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?
Conventional restaurant - Condo building with shared parking and options to purchase equipment with or without the structure.
Where is this conventional restaurant located?
The property is located at 1-3-2801 Loyola Dr Kenner, LA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Condo building with shared parking and options to purchase equipment with or without the structure; Condo fees are $1,996.45 monthly ($7,985.80 yearly); Condo fees include water, electricity, trash, lawn and dumpster maintenance, and property insurance
