Industrial Flex Portfolio with
For Sale
$1,738,000
2601 LEXINGTON Avenue, Kenner, LA 70062
Three independent industrial units with fenced yard space and roll-up access, suited for owner-users and leased income.
Property Size16,675 SF
Price / SF$104.23
Days on Market136
Property Features for 2601 LEXINGTON Avenue
General Information
Standard status
Active
Size
16,675 SF
Zoning
Special Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
16,675 SF
Year Built
1975
Tenancy
Multi
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 644-4127
Listed By:
Matthew Grass · License #995696831
(504) 237-3359
Source:
Talbot-realty
Added: Mar 30
Changed: Aug 7
Last Checked: Aug 11 at 4:42AM
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 The Agency of M. Grass Group, LLC
Investment Insights
Based on property information with market context.
The property is an industrial flex portfolio consisting of three buildings totaling approximately 16,675 SF across four functional units. The buildings are situated on multiple parcels with dedicated yard space, giving each unit a practical outdoor area for loading, storage, or service-related operations. The front building at 2601 Lexington includes approximately 4,300 SF of flexible warehouse/office space with a roll-up door and fenced yard, and Unit A adds approximately 3,375 SF with a functional layout and roll-up door access. Units B and C total approximately 9,000 SF and are fully leased to separate tenants. Each unit is equipped with its own roll-up door and operates independently, supporting both single-tenant occupancy and split-use scenarios.
The portfolio is described as positioned in a highly accessible industrial corridor near I-10 and MSY, which may support convenient regional access for deliveries, employees, and visitors.
For tenants and owner-users, the flexible warehouse/office configuration and dedicated fenced yard areas can support a service-based business that values on-site outdoor space and straightforward roll-up door access. For investors, the independently operated units include two fully leased units with separate tenant occupancy, allowing potential income while retaining the flexibility to occupy additional space if desired. Zoning is Special Industrial, supporting a range of industrial and commercial uses.
The portfolio is described as positioned in a highly accessible industrial corridor near I-10 and MSY, which may support convenient regional access for deliveries, employees, and visitors.
For tenants and owner-users, the flexible warehouse/office configuration and dedicated fenced yard areas can support a service-based business that values on-site outdoor space and straightforward roll-up door access. For investors, the independently operated units include two fully leased units with separate tenant occupancy, allowing potential income while retaining the flexibility to occupy additional space if desired. Zoning is Special Industrial, supporting a range of industrial and commercial uses.
Key Highlights
- Industrial portfolio built in 1975 with three buildings totaling approx. 16,675 SF across four independent units
- Front building at 2601 Lexington includes approx. 4,300 SF flexible warehouse/office with roll‑up door and fenced yard
- Unit A adds approx. 3,375 SF with functional layout and roll‑up door access
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
$129,945
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
7.48%
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%
$2,598,900
$2.6M
Cap Rate 7%
$1,856,357
$1.9M
Cap Rate 9%
$1,443,833
$1.4M
Market Conditions
NOI Build-Up for 16,675 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
$160.1K $9.60/SF
− Vacancy
−$7.2K −$0.43/SF
EGI
$152.9K $9.17/SF
− OpEx
−$22.9K −$1.38/SF
NOI
$129.9K $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%
$2,598,900
Cap Rate 7%
$1,856,357
Cap Rate 9%
$1,443,833
Alternative Uses
Best Use
Warehouse
$1.86M
$1.62M – $2.17M
NOI $129,945 @ 7.0% cap · market cap 7.48%
Second Best
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,261 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$4.40M
$3.85M – $5.13M
NOI $307,954 @ 7.0% cap · market cap 17.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Under-served
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
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Frequently Asked Questions
What type of property is this?
Flex space - Three independent industrial units with fenced yard space and roll-up access, suited for owner-users and leased income.
Where is this flex space located?
The property is located at 2601 LEXINGTON Avenue Kenner, LA.
What is the asking price?
The asking price for this property is $1,738,000.
What are key features of this property?
This property features: Industrial portfolio built in 1975 with three buildings totaling approx. 16,675 SF across four independent units; Front building at 2601 Lexington includes approx. 4,300 SF flexible warehouse/office with roll‑up door and fenced yard; Unit A adds approx. 3,375 SF with functional layout and roll‑up door access
