Three-Unit Retail
New
For Sale
$1,000,000
232 BELLE TERRE Boulevard, Laplace, LA 70068
Commercial, La Place, LA
Property Size7,395 SF
Price / SF$135.23
Days on Market5
Property Features for 232 BELLE TERRE Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM
Parking features
Driveway
Lot features
Regular
Standard status
Active
APN
0430067000
Size
7,395 SF
Taxes and HOA fees
Tax Description
LOT 1A SQ SUBDV BELLE TERRE COB 336 / 152 "SOUTHERN CARPET & INTERIORS, INC" COMMERCIAL CONDOMINIUM UNIT I ROUSSEL'S PLACE PARCEL A-1-A1 122.96'X472.3
Legal Description
LOT 1A SQ SUBDV BELLE TERRE COB 336 / 152 "SOUTHERN CARPET & INTERIORS, INC" COMMERCIAL CONDOMINIUM UNIT I ROUSSEL'S PLACE PARCEL A-1-A1 122.96'X472.3
Utilities
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Listing Agency:
1 Percent Lists United
(985) 227-9523
Listed By:
Tessa Dempster · License #995680786
(504) 782-1992
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 1:06AM
MLS# 2571076
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 7,395-square-foot retail property contains three commercial units, all currently leased. Two units measure more than 2,500 square feet each. The third combines approximately 2,000 square feet of office or retail area with 1,000 square feet of warehouse space, creating a mixed-format layout within the property. The building was constructed in 1995 and is served by public water, with driveway parking available.
The property fronts Belle Terre Boulevard in La Place, near established businesses and major transportation routes. Access is available to I-10, I-55, and Airline Highway. Zoning is COM, supporting its commercial positioning along a primary local thoroughfare.
The property fronts Belle Terre Boulevard in La Place, near established businesses and major transportation routes. Access is available to I-10, I-55, and Airline Highway. Zoning is COM, supporting its commercial positioning along a primary local thoroughfare.
Key Highlights
- >2,500 square feet in each of two commercial units
- Third unit includes approximately 2,000 square feet of office or retail space plus 1,000 square feet of warehouse space
- Three units are currently leased, including two long‑term tenants
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
$59,476
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
5.95%
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%
$1,189,520
$1.2M
Cap Rate 7%
$849,657
$849.7K
Cap Rate 9%
$660,844
$660.8K
Market Conditions
NOI Build-Up for 7,395 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
$73.7K $9.96/SF
− Vacancy
−$3.7K −$0.50/SF
EGI
$70.0K $9.46/SF
− OpEx
−$10.5K −$1.42/SF
NOI
$59.5K $8.04/SF
Area
St. John the Baptist 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%
$1,189,520
Cap Rate 7%
$849,657
Cap Rate 9%
$660,844
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $116,881 @ 7.0% cap · market cap 11.69%
Second Best
Warehouse
$849.7K
$743.5K – $991.3K
NOI $59,476 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,571 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 70068, LA
33,213
Population
13,379
Households
2.5
Avg Household Size
38
Median Age
19%
College-Educated
89%
High-School Grad
49.3 sq mi
ZIP Area
674
Density / Sq Mi
$69,334
Median Household Income
$39,585
Median Earnings
$1,117
Median Rent
$191,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three leased commercial units combine retail, office, and warehouse space along Belle Terre Boulevard.
Where is this retail space located?
The property is located at 232 BELLE TERRE Boulevard Laplace, LA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: >2,500 square feet in each of two commercial units; Third unit includes approximately 2,000 square feet of office or retail space plus 1,000 square feet of warehouse space; Three units are currently leased, including two long‑term tenants
