Flex Building With
For Sale
$625,000
2118 E Napoleon St E, Sulphur, LA 70663
Vacant, air-conditioned commercial building with mezzanine storage and a lighted concrete parking area.
Property Size9,200 SF
Price / SF$67.93
Days on Market51
Property Features for 2118 E Napoleon St E
General Information
Standard status
Active
Size
9,200 SF
Additional Details
Road Access
Yes
Amenities
air conditioning
LED lighting
Building Details
Buildings
1
Building Size
9,200 SF
Listing Agency:
The Real Estate Brokerage
(337) 540-4041
Listed By:
Justin Babineaux · License #995682326
Source:
Athomerealtyla
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 12:12PM
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 Real Estate Brokerage
Investment Insights
Based on property information with market context.
This vacant flex property includes 9,200 square feet of enclosed space configured for a combination of retail activity and storage. A mezzanine, reached by a steel staircase, adds elevated storage area within the building. Air conditioning serves the entire interior, and the property was previously occupied by O'Reilly's.
The building sits along a busy commercial strip and includes a concrete parking lot illuminated by LED lighting. B zoning is in place, providing the applicable land-use designation for the property.
The building sits along a busy commercial strip and includes a concrete parking lot illuminated by LED lighting. B zoning is in place, providing the applicable land-use designation for the property.
Key Highlights
- 9,200‑square‑foot vacant flex building
- Mezzanine accessed by a steel staircase
- Entire building is air conditioned
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
$56,900
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
9.10%
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%
$1,138,000
$1.1M
Cap Rate 7%
$812,857
$812.9K
Cap Rate 9%
$632,222
$632.2K
Market Conditions
NOI Build-Up for 9,200 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
$87.2K $9.48/SF
− Vacancy
−$5.9K −$0.64/SF
EGI
$81.3K $8.84/SF
− OpEx
−$24.4K −$2.65/SF
NOI
$56.9K $6.18/SF
Area
Calcasieu County, LA
Vacancy
6.80%
Lease Rate
$9.48 /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%
$1,138,000
Cap Rate 7%
$812,857
Cap Rate 9%
$632,222
Alternative Uses
Best Use
Flex RnD
$1.79M
$1.57M – $2.09M
NOI $125,436 @ 7.0% cap · market cap 20.07%
Second Best
Retail
$1.16M
$1.01M – $1.35M
NOI $81,183 @ 7.0% cap · market cap 12.99%
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.31M
NOI $138,814 @ 7.0% cap · market cap 22.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70663, LA
29,325
Population
12,767
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
97.8 sq mi
ZIP Area
300
Density / Sq Mi
$59,444
Median Household Income
$37,587
Median Earnings
$914
Median Rent
$174,300
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
- Kiss The Cook Catering Service — 2008 Marge Ln, Sulphur, LA 70663
Frequently Asked Questions
What type of property is this?
Flex space - Vacant, air-conditioned commercial building with mezzanine storage and a lighted concrete parking area.
Where is this flex space located?
The property is located at 2118 E Napoleon St E Sulphur, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 9,200‑square‑foot vacant flex building; Mezzanine accessed by a steel staircase; Entire building is air conditioned
