Updated Flex Space with
For Sale
$950,000
223 E Judge Perez Dr, Chalmette, LA 70043
Updated commercial space combines open retail area, offices, parts storage, and a conditioned warehouse.
Property Size12,740 SF
Price / SF$88.11
Days on Market44
Property Features for 223 E Judge Perez Dr
General Information
Standard status
Active
Size
12,740 SF
Total Parking Spaces
14
Zoning
C-1
Site & Location
Corner Location
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
1,958 SF
Conditioned Warehouse
Yes
Building Details
Year Built
1982
Building Size
12,740 SF
Listing Agency:
Century 21 Investment Realty
(985) 643-4200
Listed By:
Jeff Breland · License #53741
Source:
Dominionplace
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 25 at 4:25AM
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 Investment Realty
Investment Insights
Based on property information with market context.
This flex space offers 12,740 SF overall, including 10,782 SF of heated and cooled area. The layout includes a broad open retail floor, parts room, office, and a 1,958 SF warehouse with a heated and cooled work area. Recent improvements include HVAC, insulation, interior paint, flooring, and roof upgrades.
The property provides 150 feet of frontage along E. Judge Perez Dr, with 14 parking spaces plus overflow parking. C-1 Neighborhood Commercial zoning and Flood Zone X designation are also in place.
The property provides 150 feet of frontage along E. Judge Perez Dr, with 14 parking spaces plus overflow parking. C-1 Neighborhood Commercial zoning and Flood Zone X designation are also in place.
Key Highlights
- 12,740 SF total, including 10,782 SF heated and cooled
- 1,958 SF warehouse with heated and cooled working area
- 150' frontage along E. Judge Perez Dr
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
$86,716
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
9.13%
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%
$1,734,320
$1.7M
Cap Rate 7%
$1,238,800
$1.2M
Cap Rate 9%
$963,511
$963.5K
Market Conditions
NOI Build-Up for 10,782 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
$107.4K $9.96/SF
− Vacancy
−$5.4K −$0.50/SF
EGI
$102.0K $9.46/SF
− OpEx
−$15.3K −$1.42/SF
NOI
$86.7K $8.04/SF
Area
St. Bernard County, LA
Vacancy
5.00%
Lease Rate
$9.96 /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%
$1,734,320
Cap Rate 7%
$1,238,800
Cap Rate 9%
$963,511
Alternative Uses
Best Use
Retail
$2.43M
$2.13M – $2.84M
NOI $170,414 @ 7.0% cap · market cap 17.94%
Second Best
Warehouse
$1.24M
$1.08M – $1.45M
NOI $86,716 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $199,122 @ 7.0% cap · market cap 20.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
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.
Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial space combines open retail area, offices, parts storage, and a conditioned warehouse.
Where is this flex space located?
The property is located at 223 E Judge Perez Dr Chalmette, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 12,740 SF total, including 10,782 SF heated and cooled; 1,958 SF warehouse with heated and cooled working area; 150' frontage along E. Judge Perez Dr
