Building Details

Buildings 1

Building Size 3,600 SF

Listing Agency: NAI Rampart Commercial Real Estate New Orleans

Listed By: Eli Gunesebakan CCIM SIOR Show Phone

Source: Lacdb.resimplifi

Added: Oct 28, 2025 Changed: Oct 10 Last Checked: Oct 12 at 4:41PM

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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 NAI Rampart Commercial Real Estate New Orleans

Investment Insights

Based on property information with market context.

This flex space includes approximately 3,600 SF of retail and office area arranged around an open floor plan. Four roll-up doors support direct access to the interior, while LED lighting serves the building’s day-to-day operations.

The property occupies a corner location at Franklin and Cook in Gretna and is zoned C-1 Neighborhood Commercial. Its combination of open interior space, retail and office configuration, and multiple roll-up doors provides a practical foundation for a range of commercial operations.

Key Highlights

• Approximately 3,600 SF of retail and office area
• Four roll‑up doors
• Open floor plan

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,395

Cap Rate

8.27%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$527,900 $527.9K

Cap Rate 7%

$377,071 $377.1K

Cap Rate 9%

$293,278 $293.3K

Market Conditions

NOI Build-Up for 3,600 SF

Gross rent

$43.2K $12.00/SF

− Vacancy

−$2.6K −$0.72/SF

EGI

$40.6K $11.28/SF

− OpEx

−$14.2K −$3.95/SF

NOI

$26.4K $7.33/SF

Area

Jefferson County, LA

Vacancy

6.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$527,900

Cap Rate 7%

$377,071

Cap Rate 9%

$293,278

Alternative Uses

Best Use

Retail

$812.9K

$711.3K – $948.3K (±1% cap)

NOI $56,900 @ 7.0% cap · market cap 17.84%

Second Best

Flex RnD

$377.1K

$329.9K – $439.9K (±1% cap)

NOI $26,395 @ 7.0% cap · market cap 8.27%

Theoretical Best

Office A

$949.8K

$831.1K – $1.11M (±1% cap)

NOI $66,485 @ 7.0% cap · market cap 20.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Electrical Service Veterinary Clinic Carpet & Flooring Store Wine and Liquor Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,294

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 70053, LA

16,509

Population

7,865

Households

2.1

Avg Household Size

39

Median Age

24%

College-Educated

75%

High-School Grad

3.4 sq mi

ZIP Area

4,856

Density / Sq Mi

$43,786

Median Household Income

$31,667

Median Earnings

$1,017

Median Rent

$225,700

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - C-1 Neighborhood Commercial property combines retail and office functionality with roll-up access and LED lighting.

Where is this flex space located?

The property is located at 1501 Franklin Street Gretna, LA.

What is the asking price?

The asking price for this property is $319,000.

What are key features of this property?

This property features: Approximately 3,600 SF of retail and office area; Four roll‑up doors; Open floor plan