Versatile Commercial Property in
For Sale
$515,000
2705 Florida Avenue, Kenner, LA 70065
Adaptable office and warehouse space with flexible commercial zoning.
Property Size4,500 SF
Lot Size0.23 Acres
Price / SF$114.44
Days on Market151
Property Features for 2705 Florida Avenue
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.23 Acres
Property subtype
Commercial
Zoning
C-2
Building Details
Building Size
4,500 SF
Year Built
1960
Listing Agency:
Corporate Realty Leasing Company
(504) 581-5005
Listed By:
Walker Davis · License #995714139
Source:
Nolalivingrealty
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 22 at 9:34AM
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 Corporate Realty Leasing Company
Investment Insights
Based on property information with market context.
Located on Florida Avenue in Kenner, this commercial property offers approximately 4,500 square feet of space on a lot of approximately 10,000 square feet. The two-story building features a mix of finished office and warehouse areas. The first floor includes an estimated 1,500 square feet of recently renovated, move-in-ready office space and approximately 1,500 square feet of warehouse space. The second floor provides an additional estimated 1,500 square feet of finished office space that requires updates. The property has approximately 15 surface parking spaces. Zoned C-2, the property allows for a wide range of commercial uses, including contractors, light automotive, or service-oriented businesses. Some office furniture may be available for purchase, making this an opportunity for an owner occupant seeking adaptable space.
Key Highlights
- Versatile ±4,500‑sf commercial property with a functional mix of office and warehouse space.
- Flexible C‑2 zoning allows for a wide range of commercial uses.
- Move‑in‑ready, recently renovated ±1,500 sf of first‑floor office 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
$32,994
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
6.41%
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%
$659,880
$659.9K
Cap Rate 7%
$471,343
$471.3K
Cap Rate 9%
$366,600
$366.6K
Market Conditions
NOI Build-Up for 4,500 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
$54.0K $12.00/SF
− Vacancy
−$3.2K −$0.72/SF
EGI
$50.8K $11.28/SF
− OpEx
−$17.8K −$3.95/SF
NOI
$33.0K $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%
$659,880
Cap Rate 7%
$471,343
Cap Rate 9%
$366,600
Alternative Uses
Best Use
Flex RnD
$471.3K
$412.4K – $549.9K
NOI $32,994 @ 7.0% cap · market cap 6.41%
Second Best
Industrial
$384.8K
$336.7K – $448.9K
NOI $26,933 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,106 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,286
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70065, LA
51,484
Population
21,890
Households
2.4
Avg Household Size
40
Median Age
32%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
6,436
Density / Sq Mi
$65,899
Median Household Income
$41,058
Median Earnings
$1,123
Median Rent
$255,800
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
- Thomas Catering — 2716 Indiana Ave, Kenner, LA 70062
- KENNER — 2206 27th St, Kenner, LA 70062
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable office and warehouse space with flexible commercial zoning.
Where is this flex space located?
The property is located at 2705 Florida Avenue Kenner, LA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Versatile ±4,500‑sf commercial property with a functional mix of office and warehouse space.; Flexible C‑2 zoning allows for a wide range of commercial uses.; Move‑in‑ready, recently renovated ±1,500 sf of first‑floor office space.
