9-Unit Apartment
New
For Sale
$1,200,000
2222 FLORIDA Avenue, Kenner, LA 70062
COMMERCIAL - Kenner, LA
Property Size6,572 SF
Lot Size0.34 Acres
Price / SF$182.59
Days on Market7
Property Features for 2222 FLORIDA Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Parking features
Assigned
Lot features
Regular
Standard status
Active
APN
0920022450
Size
6,572 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
LOTS 13 THRU 17 & 7.5' ALLEY SQ 458 HIGHWAY PK
Legal Description
LOTS 13 THRU 17 & 7.5' ALLEY SQ 458 HIGHWAY PK
Utilities
Water source
Public
Amenities
on-site parking
individual entrances
separate meters
Building Details
Year built
1960
Floors in Building
1
Listing Agency:
Amanda Miller Realty, LLC
(504) 302-4610
Listed By:
Amanda Miller · License #995687438
(504) 250-0059
Added: Aug 14
Last Checked: Aug 20 at 9:06AM
MLS# 2572471
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9-unit apartment property contains 6,572 square feet on 0.3444 acres and was built in 1960. Each residence provides two bedrooms and one bathroom, with its own entrance and a practical interior arrangement. Assigned parking serves the property, while separate gas, water, and electric meters support individual utility service. Public water is available.
Eight of the nine units are occupied. The property is located in Kenner near major thoroughfares, shopping, dining, and the New Orleans International Airport. C-2 zoning and the existing multifamily configuration provide a defined physical setup for continued apartment use.
Eight of the nine units are occupied. The property is located in Kenner near major thoroughfares, shopping, dining, and the New Orleans International Airport. C-2 zoning and the existing multifamily configuration provide a defined physical setup for continued apartment use.
Key Highlights
- 9 units with 2 bedrooms and 1 bathroom per unit
- 6,572 square feet on 0.3444 acres
- 8 of 9 units occupied
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
$67,422
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
5.62%
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%
$1,348,440
$1.3M
Cap Rate 7%
$963,171
$963.2K
Cap Rate 9%
$749,133
$749.1K
Market Conditions
NOI Build-Up for 6,572 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
$134.9K $20.52/SF
− Vacancy
−$12.3K −$1.87/SF
EGI
$122.6K $18.65/SF
− OpEx
−$55.2K −$8.39/SF
NOI
$67.4K $10.26/SF
Area
Jefferson County, LA
Vacancy
9.10%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
45.00%
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%
$1,348,440
Cap Rate 7%
$963,171
Cap Rate 9%
$749,133
Alternative Uses
Best Use
Apartment 5plus
$963.2K
$842.8K – $1.12M
NOI $67,422 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,372 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - C-2-zoned property with individual entrances, assigned parking, and separate utility metering.
Where is this apartment building located?
The property is located at 2222 FLORIDA Avenue Kenner, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9 units with 2 bedrooms and 1 bathroom per unit; 6,572 square feet on 0.3444 acres; 8 of 9 units occupied
