Two-Story Professional Office
For Sale
$850,000
1506 Williams Blvd, Kenner, LA 70062
C-1 zoning, 32 surface parking spaces, and access to Interstate 10 serve a two-story professional office property.
Property Size5,600 SF
Price / SF$151.79
Days on Market15
Property Features for 1506 Williams Blvd
General Information
Standard status
Active
Size
5,600 SF
Total Parking Spaces
32
Property subtype
Office
Zoning
C-1
Amenities
Power
Water
Sewer
32 Parking Spaces
Building Details
Year Built
1978
Listing Agency:
The Alcor Group
(504) 887-2800
Listed By:
Al Oglesby
(504) 887-2800
Source:
Lacdb.resimplifi
Added: Aug 19
Changed: Aug 31
Last Checked: Sep 1 at 3:14PM
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 The Alcor Group
Investment Insights
Based on property information with market context.
This two-story professional office building was constructed in 1978 and occupies a commercial site with C-1 zoning. The property includes approximately 32 on-site surface parking spaces and frontage along Williams Boulevard, providing a visible setting for office operations. Reported improvements include substantial renovation work in 2013, followed by additional updates in 2021 involving the roof, insulation, flooring, plumbing, and lighting.
The property offers access to Interstate 10, Airline Drive, and Louis Armstrong New Orleans International Airport. Its existing office configuration, parking supply, and placement along a primary commercial corridor provide a practical setting for professional office use or an owner-user operation.
The property offers access to Interstate 10, Airline Drive, and Louis Armstrong New Orleans International Airport. Its existing office configuration, parking supply, and placement along a primary commercial corridor provide a practical setting for professional office use or an owner-user operation.
Key Highlights
- Two‑story professional office building constructed in 1978
- C‑1 zoning
- Approximately 32 on‑site surface parking spaces
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
$77,697
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
9.14%
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%
$1,553,940
$1.6M
Cap Rate 7%
$1,109,957
$1.1M
Cap Rate 9%
$863,300
$863.3K
Market Conditions
NOI Build-Up for 5,600 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
$126.3K $22.56/SF
− Vacancy
−$22.7K −$4.06/SF
EGI
$103.6K $18.50/SF
− OpEx
−$25.9K −$4.62/SF
NOI
$77.7K $13.87/SF
Area
Jefferson County, LA
Vacancy
18.00%
Lease Rate
$22.56 /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%
$1,553,940
Cap Rate 7%
$1,109,957
Cap Rate 9%
$863,300
Alternative Uses
Best Use
Office B
$1.11M
$971.2K – $1.29M
NOI $77,697 @ 7.0% cap · market cap 9.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,421 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 70062, LA
16,627
Population
6,679
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
7.1 sq mi
ZIP Area
2,342
Density / Sq Mi
$55,293
Median Household Income
$33,499
Median Earnings
$1,150
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - C-1 zoning, 32 surface parking spaces, and access to Interstate 10 serve a two-story professional office property.
Where is this office building located?
The property is located at 1506 Williams Blvd Kenner, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑story professional office building constructed in 1978; C‑1 zoning; Approximately 32 on‑site surface parking spaces
