Flex Space with
For Sale
$738,000
2601 Lexington Avenue A1, Kenner, LA 70062
Standalone industrial facility with a roll-up door, dedicated yard, and Special Industrial zoning.
Property Size4,300 SF
Lot Size0.50 Acres
Price / SF$171.63
Days on Market26
Property Features for 2601 Lexington Avenue A1
General Information
Standard status
Active
Size
4,300 SF
Lot size
0.50 Acres
Zoning
Special Industrial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Building Details
Year Built
1975
Buildings
1
Building Size
4,300 SF
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 644-4127
Listed By:
Matthew Grass · License #23286
Source:
Fiorellaavenue
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 30 at 8:47PM
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.
This standalone flex facility contains approximately 4,300 SF and was built in 1975. The building includes a roll-up door and dedicated yard space, supporting operational, storage, or fleet-oriented requirements. Its layout is suited to industrial and service-related use, with Special Industrial zoning allowing a broad range of uses.
The property occupies an approximately 182’ x 120’ lot at 2601 Lexington Avenue A1 in Kenner. It is located near I-10 and MSY, providing a commercially accessible setting for an owner-user seeking a functional standalone facility.
The property occupies an approximately 182’ x 120’ lot at 2601 Lexington Avenue A1 in Kenner. It is located near I-10 and MSY, providing a commercially accessible setting for an owner-user seeking a functional standalone facility.
Key Highlights
- Approximately 4,300 SF standalone flex industrial building
- Approximately 182’ x 120’ lot
- Roll‑up door and dedicated yard space
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
$31,528
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
4.27%
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%
$630,560
$630.6K
Cap Rate 7%
$450,400
$450.4K
Cap Rate 9%
$350,311
$350.3K
Market Conditions
NOI Build-Up for 4,300 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
$51.6K $12.00/SF
− Vacancy
−$3.1K −$0.72/SF
EGI
$48.5K $11.28/SF
− OpEx
−$17.0K −$3.95/SF
NOI
$31.5K $7.33/SF
Area
Jefferson County, LA
Vacancy
6.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$630,560
Cap Rate 7%
$450,400
Cap Rate 9%
$350,311
Alternative Uses
Best Use
Flex RnD
$450.4K
$394.1K – $525.5K
NOI $31,528 @ 7.0% cap · market cap 4.27%
Second Best
Industrial
$367.7K
$321.7K – $428.9K
NOI $25,736 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.13M
$992.7K – $1.32M
NOI $79,412 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Deniece's Kitchen & Catering LLC — 2727 Aberdeen St, Kenner, LA 70062
- Kenner Seafood, Market, Restaurant & Catering — 3140 Loyola Dr, Kenner, LA 70065
Frequently Asked Questions
What type of property is this?
Flex space - Standalone industrial facility with a roll-up door, dedicated yard, and Special Industrial zoning.
Where is this flex space located?
The property is located at 2601 Lexington Avenue A1 Kenner, LA.
What is the asking price?
The asking price for this property is $738,000.
What are key features of this property?
This property features: Approximately 4,300 SF standalone flex industrial building; Approximately 182’ x 120’ lot; Roll‑up door and dedicated yard space
