Remodeled Mixed-Use
New
For Sale
$200,000
2053 N First Street, Jena, LA 71342
Updated commercial property with event-venue history and flexible potential for office, retail, or other business use.
Property Size1,825 SF
Price / SF$109.59
Days on Market3
Property Features for 2053 N First Street
General Information
Standard status
Active
Size
1,825 SF
Property subtype
Commercial
Building Details
Year Built
1965
Year Renovated
2023
Listing Agency:
CENTURY 21 BUELOW-MILLER REALTY
Listed By:
Dana Chapman · License #438001450
(318) 992-3026
Source:
Thepuckettteam
Added: Sep 14
Last Checked: Sep 15 at 5:00AM
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 CENTURY 21 BUELOW-MILLER REALTY
Investment Insights
Based on property information with market context.
The Gibson Event Center is a 1,825-square-foot mixed-use property originally built in 1965 and extensively remodeled in 2023. Improvements include a replacement roof, new plumbing and electrical systems, updated flooring, central HVAC, a new water heater, and a renovated full bathroom.
The property has hosted weddings, birthday parties, showers, family gatherings, faith-based events, and other social functions. Its existing configuration supports continued event use, while the property information also identifies storefront, office, business, and potential residential conversion applications; residential conversion would require additional renovations.
The property has hosted weddings, birthday parties, showers, family gatherings, faith-based events, and other social functions. Its existing configuration supports continued event use, while the property information also identifies storefront, office, business, and potential residential conversion applications; residential conversion would require additional renovations.
Key Highlights
- 1,825‑square‑foot mixed‑use property
- Extensively remodeled in 2023
- New roof, plumbing, electrical, flooring, and central HVAC
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
$18,068
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
9.03%
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%
$361,360
$361.4K
Cap Rate 7%
$258,114
$258.1K
Cap Rate 9%
$200,756
$200.8K
Market Conditions
NOI Build-Up for 1,825 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
$32.9K $18.00/SF
− Vacancy
−$3.9K −$2.16/SF
EGI
$28.9K $15.84/SF
− OpEx
−$10.8K −$5.94/SF
NOI
$18.1K $9.90/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$361,360
Cap Rate 7%
$258,114
Cap Rate 9%
$200,756
Alternative Uses
Best Use
Mixed Use
$258.1K
$225.9K – $301.1K
NOI $18,068 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.8K
$399.7K – $532.9K
NOI $31,974 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 71342, LA
8,100
Population
3,556
Households
2.3
Avg Household Size
38
Median Age
23%
College-Educated
83%
High-School Grad
159.1 sq mi
ZIP Area
51
Density / Sq Mi
$80,556
Median Household Income
$49,028
Median Earnings
$533
Median Rent
$154,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial property with event-venue history and flexible potential for office, retail, or other business use.
Where is this mixed-use property located?
The property is located at 2053 N First Street Jena, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,825‑square‑foot mixed‑use property; Extensively remodeled in 2023; New roof, plumbing, electrical, flooring, and central HVAC
