Corner Office Warehouse
For Sale
$799,000
2201 Greenwood St, Kenner, LA 70062
Two-suite corner office warehouse includes roll-up doors and multiple office rooms with a kitchen and reception.
Property Size6,500 SF
Days on Market92
Property Features for 2201 Greenwood St
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Industrial
Building Details
Building Size
6,500 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(504) 352-3783
Listed By:
Adrien Foley · License #955716500
(504) 352-3783
Source:
Elifinrealty
Added: Jun 2
Changed: Aug 24
Last Checked: Aug 31 at 2:44PM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
2201 Greenwood St is a corner office warehouse featuring two suites, with one suite already leased. Suite A is approximately 4,200 SF and includes multiple office rooms, a reception area, a kitchen, and more. Suite B is approximately 2,300 SF and is leased through 2026. Both suites are served by a 12’ roll-up door, supporting flexible warehouse-and-office use within each space.
The property is located in Kenner’s industrial area, adjacent to MSY, which may be beneficial for tenants seeking proximity to the airport market.
This configuration provides separately metered-style flexibility in a two-suit layout, with office improvements integrated alongside roll-up warehouse access for each suite.
The property is located in Kenner’s industrial area, adjacent to MSY, which may be beneficial for tenants seeking proximity to the airport market.
This configuration provides separately metered-style flexibility in a two-suit layout, with office improvements integrated alongside roll-up warehouse access for each suite.
Key Highlights
- 6,500 SF corner office warehouse in Kenner’s industrial area
- Two‑suite layout: Suite A 4,200 SF and Suite B 2,300 SF
- Suite A 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
$50,653
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
6.34%
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%
$1,013,060
$1.0M
Cap Rate 7%
$723,614
$723.6K
Cap Rate 9%
$562,811
$562.8K
Market Conditions
NOI Build-Up for 6,500 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
$62.4K $9.60/SF
− Vacancy
−$2.8K −$0.43/SF
EGI
$59.6K $9.17/SF
− OpEx
−$8.9K −$1.38/SF
NOI
$50.7K $7.79/SF
Area
Jefferson County, LA
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,013,060
Cap Rate 7%
$723,614
Cap Rate 9%
$562,811
Alternative Uses
Best Use
Warehouse
$723.6K
$633.2K – $844.2K
NOI $50,653 @ 7.0% cap · market cap 6.34%
Second Best
Flex RnD
$680.8K
$595.7K – $794.3K
NOI $47,658 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $120,042 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-suite corner office warehouse includes roll-up doors and multiple office rooms with a kitchen and reception.
Where is this flex space located?
The property is located at 2201 Greenwood St Kenner, LA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6,500 SF corner office warehouse in Kenner’s industrial area; Two‑suite layout: Suite A 4,200 SF and Suite B 2,300 SF; Suite A is currently leased
