Retail Space with Walk-In Cold
For Sale
$550,000
2940 Elysian Fields Avenue, New Orleans, LA 70122
Vacant, grey-shell premises include existing cold-storage equipment and on-site parking.
Property Size1,565 SF
Price / SF$351.44
Days on Market466
Property Features for 2940 Elysian Fields Avenue
General Information
Standard status
Active
Size
1,565 SF
Total Parking Spaces
28
Property subtype
Commercial
Zoning
HU-B1
Site & Location
Neighborhood
St. Roch
Highway Access
Yes
Amenities
walk-in freezer and cooler
Building Details
Building Size
1,565 SF
Year Built
2012
Stories
1
Listing Agency:
Cypress Key Realty LLC
Listed By:
Christopher Romero
(504) 250-4848
Source:
Cypresskeyrealty
Added: Jul 15, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:48PM
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 Cypress Key Realty LLC
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Investment Insights
Based on property information with market context.
This vacant retail property is offered in grey-shell condition, with a walk-in freezer and cooler already in place. The site includes 28 off-street parking spaces and is zoned HU-B1. Built in 2012, the property is located at 2940 Elysian Fields Avenue in New Orleans.
Elysian Fields Avenue runs between I-610 and I-10, placing the property along that corridor. The existing cold-storage equipment and parking are the principal improvements identified for the site.
Elysian Fields Avenue runs between I-610 and I-10, placing the property along that corridor. The existing cold-storage equipment and parking are the principal improvements identified for the site.
Key Highlights
- Walk‑in freezer and cooler in place
- 28 off‑street parking spaces
- HU‑B1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,043
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,860
$540.9K
Cap Rate 7%
$386,329
$386.3K
Cap Rate 9%
$300,478
$300.5K
Market Conditions
NOI Build-Up for 1,565 SF
Gross rent
$37.6K $24.00/SF
− Vacancy
−$1.5K −$0.96/SF
EGI
$36.1K $23.04/SF
− OpEx
−$9.0K −$5.76/SF
NOI
$27.0K $17.28/SF
Area
ZIP 70122
Vacancy
4.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,860
Cap Rate 7%
$386,329
Cap Rate 9%
$300,478
Alternative Uses
Best Use
Specialty Retail
$386.3K
$338.0K – $450.7K
NOI $27,043 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$342.5K
$299.7K – $399.6K
NOI $23,978 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$409.5K
$358.3K – $477.8K
NOI $28,666 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
72k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 45%
Dining 43%
Shops & Services 12%
Lowe's
Home Improvements & Furnishings
32,456 visits/mo
0.3 miles
McDonald's
Dining
21,921 visits/mo
0.1 miles
Burger King
Dining
8,873 visits/mo
0.2 miles
Shell
Shops & Services
7,356 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
894 visits/mo
0.1 miles
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Retail space - Vacant, grey-shell premises include existing cold-storage equipment and on-site parking.
Where is this retail space located?
The property is located at 2940 Elysian Fields Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Walk‑in freezer and cooler in place; 28 off‑street parking spaces; HU‑B1 zoning
