Drive-Through Restaurant
For Sale
$450,000
1541 Gause Blvd, Slidell, LA 70460
Two commercial units combine an operating restaurant space with a separately leased suite and customer-oriented drive-through access.
Property Size3,731 SF
Price / SF$120.61
Days on Market11
Property Features for 1541 Gause Blvd
General Information
Standard status
Active
Size
3,731 SF
Occupancy
100%
Additional Details
Drive-Thru
Yes
Building Details
Tenancy
Multi
Listing Agency:
United Real Estate Partners
(504) 615-3351
Listed By:
Stephanie Saizan · License #995686549
(504) 615-3351
Source:
Exprealty
Added: Jul 31
Changed: Aug 9
Last Checked: Aug 9 at 4:34AM
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 United Real Estate Partners
Investment Insights
Based on property information with market context.
Located at 1541 Gause Blvd in Slidell, this 3731-square-foot commercial property is arranged as two distinct units. The larger approximately 2,500-square-foot space operates as Lee’s Original Hamburgers and includes a drive-through, while the smaller unit is leased separately. Ample parking supports customer access and day-to-day restaurant operations.
The property is near Fremaux Town Center, shopping, restaurants, hospitals, and other established businesses, with convenient access to major roadways. The existing configuration offers a combination of restaurant infrastructure and separate commercial space within one property.
The property is near Fremaux Town Center, shopping, restaurants, hospitals, and other established businesses, with convenient access to major roadways. The existing configuration offers a combination of restaurant infrastructure and separate commercial space within one property.
Key Highlights
- 3731‑square‑foot commercial property configured as two separate units
- Approximately 2,500‑square‑foot restaurant space with drive‑through
- Smaller commercial unit is currently leased
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
$37,413
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
8.31%
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%
$748,260
$748.3K
Cap Rate 7%
$534,471
$534.5K
Cap Rate 9%
$415,700
$415.7K
Market Conditions
NOI Build-Up for 3,731 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
$56.0K $15.00/SF
− Vacancy
−$2.5K −$0.68/SF
EGI
$53.4K $14.33/SF
− OpEx
−$16.0K −$4.30/SF
NOI
$37.4K $10.03/SF
Area
St. Tammany County, LA
Vacancy
4.50%
Lease Rate
$15.00 /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%
$748,260
Cap Rate 7%
$534,471
Cap Rate 9%
$415,700
Alternative Uses
Best Use
Specialty Retail
$952.9K
$833.8K – $1.11M
NOI $66,701 @ 7.0% cap · market cap 14.82%
Second Best
Retail
$534.5K
$467.7K – $623.6K
NOI $37,413 @ 7.0% cap · market cap 8.31%
Theoretical Best
Multifamily LT 5
$40.22M
$35.19M – $46.92M
NOI $2,815,443 @ 7.0% cap · market cap 625.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
818k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 21%
Superstores 13%
Home Improvements & Furnishings 10%
Walmart
Superstores
105,193 visits/mo
0.4 miles
Chick-fil-A
Dining
63,358 visits/mo
0.3 miles
Rouses Market
Groceries
58,803 visits/mo
0.3 miles
RaceTrac
Shops & Services
45,698 visits/mo
0.1 miles
Raising Cane's Chicken Fingers
Dining
43,432 visits/mo
0.2 miles
Demographics for 70460, LA
22,429
Population
9,223
Households
2.4
Avg Household Size
39
Median Age
17%
College-Educated
84%
High-School Grad
38.4 sq mi
ZIP Area
584
Density / Sq Mi
$63,413
Median Household Income
$35,197
Median Earnings
$1,208
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Two commercial units combine an operating restaurant space with a separately leased suite and customer-oriented drive-through access.
Where is this drive through restaurant located?
The property is located at 1541 Gause Blvd Slidell, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3731‑square‑foot commercial property configured as two separate units; Approximately 2,500‑square‑foot restaurant space with drive‑through; Smaller commercial unit is currently leased
