Storefront Property with Updated
For Sale
$350,000
246 E 70th Street, Shreveport, LA 71106
Existing commercial space near I-49 and E 70th includes a roof replaced in 2019.
Property Size2,000 SF
Price / SF$175
Days on Market78
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Property Features for 246 E 70th Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Business
Building Details
Year Built
1988
Listing Agency:
Century 21 Elite
(318) 868-3600
Listed By:
Michael Salter · License #0000012182
(318) 208-4045
Source:
Lonestarluxuryrealty
Added: Jul 30
Changed: Oct 10
Last Checked: Oct 14 at 11:37PM
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 Elite
Investment Insights
Based on property information with market context.
This storefront property offers 2,000 of property size and was built in 1988. The roof was replaced in 2019, and the owner may make repairs with a favorable offer.
The property is next to the corner of I-49 and E 70th Street, across from the Race Way Gas Station. Bayou Daiquiri operated at this location for more than 30 years before relocating.
The property is next to the corner of I-49 and E 70th Street, across from the Race Way Gas Station. Bayou Daiquiri operated at this location for more than 30 years before relocating.
Key Highlights
- 2,000 property size
- Roof replaced in 2019
- Built in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,230
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,600
$444.6K
Cap Rate 7%
$317,571
$317.6K
Cap Rate 9%
$247,000
$247.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$31.2K $15.60/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$29.6K $14.82/SF
− OpEx
−$7.4K −$3.70/SF
NOI
$22.2K $11.11/SF
Area
Shreveport, LA
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,600
Cap Rate 7%
$317,571
Cap Rate 9%
$247,000
Alternative Uses
Best Use
Specialty Retail
$317.6K
$277.9K – $370.5K
NOI $22,230 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$283.2K
$247.8K – $330.4K
NOI $19,824 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$422.1K
$369.4K – $492.5K
NOI $29,549 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 71106, LA
34,906
Population
15,415
Households
2.3
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
33.2 sq mi
ZIP Area
1,051
Density / Sq Mi
$77,724
Median Household Income
$48,949
Median Earnings
$890
Median Rent
$310,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Summerlin Florist & Gifts — 6401 Line Ave #3, Shreveport, LA 71106
Frequently Asked Questions
What type of property is this?
Storefront property - Existing commercial space near I-49 and E 70th includes a roof replaced in 2019.
Where is this storefront property located?
The property is located at 246 E 70th Street Shreveport, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,000 property size; Roof replaced in 2019; Built in 1988
