Renovated Flex Space with
For Sale
$579,000
2727 Virginia St, Kenner, LA 70062
Light-industrial zoning, warehouse space, and runway frontage support a range of commercial operations.
Property Size4,500 SF
Lot Size0.14 Acres
Price / SF$128.67
Days on Market171
Property Features for 2727 Virginia St
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.14 Acres
Property subtype
Industrial
Zoning
L-I
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Building Size
4,500 SF
Construction
cinder block
Listing Agency:
The Agency of M. Grass Group, LLC
Listed By:
Matthew Grass · License #23286
(504) 237-3359
Source:
Lacdb.resimplifi
Added: Mar 23
Changed: Sep 7
Last Checked: Sep 9 at 5:31AM
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 4,500 SF flex property in Kenner is a cinder block building originally constructed in 1985 and recently renovated. The layout includes a substantial warehouse area, one roll-up door, and additional flexible space suited to light industrial, warehouse, or service uses. A brand-new roof is among the recent improvements, and the building occupies a 50 x 120 lot.
The property fronts the north/south runway at MSY and can be seen from Veterans Boulevard. Williams Boulevard and I-10 are located just blocks away, providing direct access to major transportation routes. The site carries L-I zoning and combines industrial functionality with prominent exposure.
The property fronts the north/south runway at MSY and can be seen from Veterans Boulevard. Williams Boulevard and I-10 are located just blocks away, providing direct access to major transportation routes. The site carries L-I zoning and combines industrial functionality with prominent exposure.
Key Highlights
- 4,500 SF cinder block flex building
- Recently renovated with a brand‑new roof
- 50 x 120 lot
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
$35,068
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
6.06%
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%
$701,360
$701.4K
Cap Rate 7%
$500,971
$501.0K
Cap Rate 9%
$389,644
$389.6K
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
$43.2K $9.60/SF
− Vacancy
−$1.9K −$0.43/SF
EGI
$41.3K $9.17/SF
− OpEx
−$6.2K −$1.38/SF
NOI
$35.1K $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%
$701,360
Cap Rate 7%
$500,971
Cap Rate 9%
$389,644
Alternative Uses
Best Use
Warehouse
$501.0K
$438.4K – $584.5K
NOI $35,068 @ 7.0% cap · market cap 6.06%
Second Best
Flex RnD
$471.3K
$412.4K – $549.9K
NOI $32,994 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,106 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,321
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Thomas Catering — 2716 Indiana Ave, Kenner, LA 70062
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Frequently Asked Questions
What type of property is this?
Flex space - Light-industrial zoning, warehouse space, and runway frontage support a range of commercial operations.
Where is this flex space located?
The property is located at 2727 Virginia St Kenner, LA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 4,500 SF cinder block flex building; Recently renovated with a brand‑new roof; 50 x 120 lot
