Freestanding Car Wash
For Sale
$500,000
3001 Elysian Fields Ave, New Orleans, LA 70122
Existing car wash improvements occupy a freestanding commercial building with HU-B1 zoning.
Property Size1,435 SF
Lot Size0.18 Acres
Price / SF$348.43
Days on Market702
Property Features for 3001 Elysian Fields Ave
General Information
Standard status
Active
Size
1,435 SF
Lot size
0.18 Acres
Property subtype
Other
Zoning
HU-B1
Building Details
Year Built
2012
Buildings
1
Listing Agency:
SRSA Commercial Real Estate
(504) 676-7015
Listed By:
Nicholas Corchiani · License #995715690
(504) 676-7015
Source:
Lacdb.resimplifi
Added: Sep 27, 2024
Changed: Aug 28
Last Checked: Aug 28 at 11:05AM
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 SRSA Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding car wash property includes a 1,435-square-foot building on a 7,760-square-foot lot. Constructed in 2012, the building is currently used for car wash operations and carries HU-B1 zoning.
The property is located at 3001 Elysian Fields Ave in New Orleans, between I-610 and I-10. Its commercial setting and existing automotive use provide a defined operating format for a car wash buyer, while the zoning designation is part of the property’s recorded profile.
The property is located at 3001 Elysian Fields Ave in New Orleans, between I-610 and I-10. Its commercial setting and existing automotive use provide a defined operating format for a car wash buyer, while the zoning designation is part of the property’s recorded profile.
Key Highlights
- 1,435 SF building on a 7,760 SF lot
- Currently used as a car wash
- Constructed in 2012
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
$24,797
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
4.96%
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%
$495,940
$495.9K
Cap Rate 7%
$354,243
$354.2K
Cap Rate 9%
$275,522
$275.5K
Market Conditions
NOI Build-Up for 1,435 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
$34.4K $24.00/SF
− Vacancy
−$1.4K −$0.96/SF
EGI
$33.1K $23.04/SF
− OpEx
−$8.3K −$5.76/SF
NOI
$24.8K $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 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%
$495,940
Cap Rate 7%
$354,243
Cap Rate 9%
$275,522
Alternative Uses
Best Use
Specialty Retail
$354.2K
$310.0K – $413.3K
NOI $24,797 @ 7.0% cap · market cap 4.96%
Second Best
Retail
$314.1K
$274.8K – $366.4K
NOI $21,986 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$375.5K
$328.6K – $438.1K
NOI $26,285 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
74k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 44%
Dining 42%
Shops & Services 15%
Lowe's
Home Improvements & Furnishings
32,456 visits/mo
0.4 miles
McDonald's
Dining
21,921 visits/mo
0.0 miles
Burger King
Dining
8,873 visits/mo
0.1 miles
Shell
Shops & Services
7,356 visits/mo
0.1 miles
Whitney Bank
Shops & Services
2,483 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Car wash - Existing car wash improvements occupy a freestanding commercial building with HU-B1 zoning.
Where is this car wash located?
The property is located at 3001 Elysian Fields Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,435 SF building on a 7,760 SF lot; Currently used as a car wash; Constructed in 2012
