Bar Business with Back
For Sale
$750,000
216 E Main St, Gramercy, LA 70052
Includes installed equipment, two restrooms, and a kitchen area supporting food-service use.
Property Size1,994 SF
Price / SF$376.13
Days on Market231
Property Features for 216 E Main St
General Information
Standard status
Active
Size
1,994 SF
Property subtype
Hospitality
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Compass - Realtors
(504) 496-2433
Listed By:
C.J. Edler · License #995688158
(504) 496-2433
Source:
Lacdb.resimplifi
Added: Jan 12
Changed: Aug 30
Last Checked: Aug 30 at 1:52PM
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 Compass - Realtors
Investment Insights
Based on property information with market context.
This bar business occupies approximately 1,994 square feet and is configured for ongoing operations. The premises include two restrooms, a back patio for outdoor seating, and a kitchen area that supports food-service use. Existing equipment and fixtures are included in the offering.
The property also contains three video poker machines, two pool tables, an ATM, and a music machine. These components are currently income-producing and remain in place, providing an established operating setup for continued bar use. The combination of customer areas, service equipment, patio space, and kitchen infrastructure supports the existing business format.
The property also contains three video poker machines, two pool tables, an ATM, and a music machine. These components are currently income-producing and remain in place, providing an established operating setup for continued bar use. The combination of customer areas, service equipment, patio space, and kitchen infrastructure supports the existing business format.
Key Highlights
- Approximately 1,994 square feet of bar business space
- Three video poker machines currently generating income
- Two pool tables, an ATM, and a music machine included
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
$33,767
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
4.50%
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%
$675,340
$675.3K
Cap Rate 7%
$482,386
$482.4K
Cap Rate 9%
$375,189
$375.2K
Market Conditions
NOI Build-Up for 1,994 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
$45.9K $23.04/SF
− Vacancy
−$919 −$0.46/SF
EGI
$45.0K $22.58/SF
− OpEx
−$11.3K −$5.64/SF
NOI
$33.8K $16.93/SF
Area
St. James County, LA
Vacancy
2.00%
Lease Rate
$23.04 /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%
$675,340
Cap Rate 7%
$482,386
Cap Rate 9%
$375,189
Alternative Uses
Best Use
Specialty Retail
$482.4K
$422.1K – $562.8K
NOI $33,767 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$526.1K
$460.3K – $613.8K
NOI $36,825 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
7,166 visits/mo
0.5 miles
Dollar General
Shops & Services
6,879 visits/mo
0.0 miles
Regions Bank
Shops & Services
3,737 visits/mo
0.4 miles
Chevron
Shops & Services
3,285 visits/mo
0.1 miles
Valero Energy
Shops & Services
1,673 visits/mo
0.4 miles
Demographics for 70052, LA
3,162
Population
1,192
Households
2.7
Avg Household Size
42
Median Age
17%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
411
Density / Sq Mi
$66,950
Median Household Income
$40,208
Median Earnings
$1,293
Median Rent
$211,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jj's Bar — E Railroad St, Gramercy, LA 70052
- Main Street Tavern — 216 E Main St, Gramercy, LA 70052
- J's Lounge — 606 E Railroad St, Gramercy, LA 70052
Frequently Asked Questions
What type of property is this?
Bar & Pub - Includes installed equipment, two restrooms, and a kitchen area supporting food-service use.
Where is this bar & pub located?
The property is located at 216 E Main St Gramercy, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 1,994 square feet of bar business space; Three video poker machines currently generating income; Two pool tables, an ATM, and a music machine included
