Two-Unit Industrial
For Sale
$848,000
2601 Lexington Avenue B-c, Kenner, LA 70062
Two separately leased units provide individual roll-up doors and current occupancy.
Property Size9,000 SF
Lot Size0.28 Acres
Price / SF$94.22
Days on Market36
Property Features for 2601 Lexington Avenue B-c
General Information
Standard status
Active
Size
9,000 SF
Lot size
0.28 Acres
Zoning
Special Industrial
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Tenancy
Multi
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 644-4127
Listed By:
Matthew Grass · License #23286
Source:
Dominionplace
Added: Jul 25
Changed: Aug 28
Last Checked: Aug 28 at 7:46AM
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 warehouse offering includes approximately 9,000 square feet of industrial space arranged as two separately leased units identified as B and C. Each unit has its own tenant and roll-up door, providing a distinct operating configuration within the building. The property was built in 1975 and occupies an approximately 100' x 120' lot.
Located at 2601 Lexington Avenue in Kenner, the property is near I-10 and MSY. Special Industrial zoning supports its established industrial positioning. Current occupancy and separate unit layouts provide a straightforward arrangement for an owner-user or purchaser seeking an occupied warehouse property.
Located at 2601 Lexington Avenue in Kenner, the property is near I-10 and MSY. Special Industrial zoning supports its established industrial positioning. Current occupancy and separate unit layouts provide a straightforward arrangement for an owner-user or purchaser seeking an occupied warehouse property.
Key Highlights
- Approximately 9,000 SF of industrial warehouse space
- Two separately leased units identified as B and C
- Each unit has its own tenant and roll‑up door
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
$70,135
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
8.27%
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%
$1,402,700
$1.4M
Cap Rate 7%
$1,001,929
$1.0M
Cap Rate 9%
$779,278
$779.3K
Market Conditions
NOI Build-Up for 9,000 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
$86.4K $9.60/SF
− Vacancy
−$3.9K −$0.43/SF
EGI
$82.5K $9.17/SF
− OpEx
−$12.4K −$1.38/SF
NOI
$70.1K $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%
$1,402,700
Cap Rate 7%
$1,001,929
Cap Rate 9%
$779,278
Alternative Uses
Best Use
Warehouse
$1.00M
$876.7K – $1.17M
NOI $70,135 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,212 @ 7.0% cap · market cap 19.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Well-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?
Warehouse - Two separately leased units provide individual roll-up doors and current occupancy.
Where is this warehouse located?
The property is located at 2601 Lexington Avenue B-c Kenner, LA.
What is the asking price?
The asking price for this property is $848,000.
What are key features of this property?
This property features: Approximately 9,000 SF of industrial warehouse space; Two separately leased units identified as B and C; Each unit has its own tenant and roll‑up door
