Renovated Gas Station with Retail
For Sale
$1,200,000
6132 Franklin Ave, New Orleans, LA 70122
Operating fuel station with two additional commercial buildings leased to three month-to-month tenants.
Property Size3,893 SF
Lot Size0.48 Acres
Price / SF$308.25
Days on Market776
Property Features for 6132 Franklin Ave
General Information
Standard status
Active
Size
3,893 SF
Lot size
0.48 Acres
Property subtype
Retail
Zoning
S-B1
Additional Details
Business Included
Yes
Road Access
Yes
Service Bays
2
Amenities
Power
Water
Sewer
Building Details
Buildings
3
Listing Agency:
Pappalardo Consultants Inc
(504) 616-8940
Listed By:
Albert Pappalardo · License #000072430
(504) 616-8940
Source:
Lacdb.resimplifi
Added: Jul 16, 2024
Changed: Aug 30
Last Checked: Aug 30 at 12:47PM
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 Pappalardo Consultants Inc
Investment Insights
Based on property information with market context.
This gas station property combines an operating fuel sales component with two additional commercial buildings. The improvements total 3,893 square feet on approximately 20,940 square feet of land, with the supplemental buildings leased to three separate tenants on month-to-month agreements. Two garage bays are also included and may offer conversion potential, subject to applicable requirements.
The fuel-pump and canopy area was renovated within the last three years, and new dispensers were installed during that period. The property has 130 feet of frontage on Franklin Ave. and 169 feet on Allen Toussaint Blvd. Zoning is S-B1. LDEQ issued a No Further Action determination after a Phase 2 environmental assessment. The City of New Orleans prohibits tobacco and Beer/Liquor/Wine sales at this address. Fuel supply arrangements and certain transaction conditions are addressed in the existing property documentation.
The fuel-pump and canopy area was renovated within the last three years, and new dispensers were installed during that period. The property has 130 feet of frontage on Franklin Ave. and 169 feet on Allen Toussaint Blvd. Zoning is S-B1. LDEQ issued a No Further Action determination after a Phase 2 environmental assessment. The City of New Orleans prohibits tobacco and Beer/Liquor/Wine sales at this address. Fuel supply arrangements and certain transaction conditions are addressed in the existing property documentation.
Key Highlights
- Operating gas station with renovated fuel pumps and canopy area
- Approximately 20,940 square feet of land with 3,893 square feet of buildings
- 130 feet of frontage on Franklin Ave. and 169 feet on Allen Toussaint Blvd.
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
$67,271
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
5.61%
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%
$1,345,420
$1.3M
Cap Rate 7%
$961,014
$961.0K
Cap Rate 9%
$747,456
$747.5K
Market Conditions
NOI Build-Up for 3,893 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
$93.4K $24.00/SF
− Vacancy
−$3.7K −$0.96/SF
EGI
$89.7K $23.04/SF
− OpEx
−$22.4K −$5.76/SF
NOI
$67.3K $17.28/SF
Area
ZIP 70122
Vacancy
4.00%
Lease Rate
$24.00 /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%
$1,345,420
Cap Rate 7%
$961,014
Cap Rate 9%
$747,456
Alternative Uses
Best Use
Specialty Retail
$961.0K
$840.9K – $1.12M
NOI $67,271 @ 7.0% cap · market cap 5.61%
Second Best
Retail
$852.1K
$745.6K – $994.1K
NOI $59,647 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,307 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 94%
Electronics 6%
SUBWAY
Dining
4,469 visits/mo
0.5 miles
PJ's Coffee of New Orleans
Dining
4,441 visits/mo
0.4 miles
Smoothie King
Dining
3,058 visits/mo
0.5 miles
Boost Mobile
Electronics
731 visits/mo
0.5 miles
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Operating fuel station with two additional commercial buildings leased to three month-to-month tenants.
Where is this gas station located?
The property is located at 6132 Franklin Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Operating gas station with renovated fuel pumps and canopy area; Approximately 20,940 square feet of land with 3,893 square feet of buildings; 130 feet of frontage on Franklin Ave. and 169 feet on Allen Toussaint Blvd.
