Auto Shop with Service
For Sale
$675,000
2 Eric Lawrence Dr, Destrehan, LA 70047
Service bays, office space, and included equipment support automotive operations.
Property Size2,362 SF
Price / SF$285.77
Days on Market831
Property Features for 2 Eric Lawrence Dr
General Information
Standard status
Active
Size
2,362 SF
Property subtype
Retail
Zoning
COM
Additional Details
Business Included
Yes
Service Bays
2
Amenities
apartment
Building Details
Year Built
1983
Listing Agency:
Hospitality Realty
(504) 606-0466
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Lacdb.resimplifi
Added: May 22, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:27PM
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 Hospitality Realty
Investment Insights
Based on property information with market context.
This automotive property includes a 1479 sqft warehouse arranged with 2 service stalls capable of handling up to 4 cars at a time, along with an 800 sqft service pit below. The improvements also include approximately 900 square feet of two-story mixed-use office space, with the upper level currently configured as a small apartment.
Included equipment encompasses an industrial air compressor, tire machine, balance machine, oil and filters, tools, and office furnishings. The property is being sold as-is, with no repairs by the seller. An ongoing business is operating at the site, and showings are available by appointment. Located at 2 Eric Lawrence Dr in Destrehan, Louisiana, the property was built in 1983 and carries COM zoning.
Included equipment encompasses an industrial air compressor, tire machine, balance machine, oil and filters, tools, and office furnishings. The property is being sold as-is, with no repairs by the seller. An ongoing business is operating at the site, and showings are available by appointment. Located at 2 Eric Lawrence Dr in Destrehan, Louisiana, the property was built in 1983 and carries COM zoning.
Key Highlights
- 1479 sqft warehouse with 2 service stalls
- Capacity for up to 4 cars at a time
- 800 sqft pit below the warehouse
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
$37,332
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
5.53%
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%
$746,640
$746.6K
Cap Rate 7%
$533,314
$533.3K
Cap Rate 9%
$414,800
$414.8K
Market Conditions
NOI Build-Up for 2,362 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
$54.4K $23.04/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$53.3K $22.58/SF
− OpEx
−$16.0K −$6.77/SF
NOI
$37.3K $15.81/SF
Area
St. Charles County, LA
Vacancy
2.00%
Lease Rate
$23.04 /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%
$746,640
Cap Rate 7%
$533,314
Cap Rate 9%
$414,800
Alternative Uses
Best Use
Retail
$533.3K
$466.7K – $622.2K
NOI $37,332 @ 7.0% cap · market cap 5.53%
Second Best
Warehouse
$271.4K
$237.5K – $316.6K
NOI $18,997 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$623.2K
$545.3K – $727.0K
NOI $43,621 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70047, LA
12,783
Population
5,316
Households
2.4
Avg Household Size
40
Median Age
37%
College-Educated
90%
High-School Grad
12.2 sq mi
ZIP Area
1,048
Density / Sq Mi
$95,240
Median Household Income
$47,414
Median Earnings
$1,143
Median Rent
$294,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Service bays, office space, and included equipment support automotive operations.
Where is this auto shop located?
The property is located at 2 Eric Lawrence Dr Destrehan, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1479 sqft warehouse with 2 service stalls; Capacity for up to 4 cars at a time; 800 sqft pit below the warehouse
