Open-Plan Flex
For Sale
$339,500
1501 Franklin St, Gretna, LA 70053
C-1 Neighborhood Commercial property combines retail and office functionality with roll-up access and LED lighting.
Property Size3,600 SF
Price / SF$94.31
Days on Market306
Property Features for 1501 Franklin St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Retail
Zoning
C-1
Additional Details
Corner Location
Yes
Amenities
Four (4) Roll-Up Doors
LED Lighting
Open Floor Plan
Water
Sewer
Building Details
Buildings
1
Building Size
3,600 SF
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
(504) 401-4900
Listed By:
Eli Gunesebakan
(504) 401-4900
Source:
Lacdb.resimplifi
Added: Oct 28, 2025
Changed: Aug 28
Last Checked: Aug 28 at 8:34PM
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.
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 = 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
$26,395
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
7.77%
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%
$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
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
$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 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%
$527,900
Cap Rate 7%
$377,071
Cap Rate 9%
$293,278
Alternative Uses
Best Use
Retail
$812.9K
$711.3K – $948.3K
NOI $56,900 @ 7.0% cap · market cap 16.76%
Second Best
Flex RnD
$377.1K
$329.9K – $439.9K
NOI $26,395 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$949.8K
$831.1K – $1.11M
NOI $66,485 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- La Fiesta Restaurant — 1412 Stumpf Blvd, Gretna, LA 70053
- Murphy's Catering LLC — 1102 Stumpf Blvd, Gretna, LA 70053
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 St Gretna, LA.
What is the asking price?
The asking price for this property is $339,500.
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
