Automotive Service
For Sale
Contact for pricing
3212 26 St, Metairie, LA 70002
Automotive service facility with three 14’ overhead doors and two 2-post lifts.
Property Size5,000 SF
Price / SF$190
Days on Market166
Property Features for 3212 26 St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
RETAIL
Zoning
BC2
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Elifin Realty
(985) 703-1140
Listed By:
Brady Becker · License #955716500
(985) 703-1140
Source:
Moodyscre
Added: Feb 23
Changed: Jul 26
Last Checked: Aug 8 at 11:53AM
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 Elifin Realty
Investment Insights
Based on property information with market context.
This automotive service facility includes three 14’ overhead doors and two 2-post lifts, supporting efficient vehicle servicing and in-bay operations. Available equipment may remain or be removed, depending on the incoming buyer’s plans.
The property is seconds from I-10, Veterans Blvd, and N Causeway Blvd. It is zoned BC2 Business Core District.
As a versatile automotive-focused building, the improvements are centered on drive-in access and lift capacity for servicing operations.
The property is seconds from I-10, Veterans Blvd, and N Causeway Blvd. It is zoned BC2 Business Core District.
As a versatile automotive-focused building, the improvements are centered on drive-in access and lift capacity for servicing operations.
Key Highlights
- Automotive service facility with three 14’ overhead doors
- Includes two 2‑post lifts for vehicle service
- Zoned BC2 Business Core District
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
$62,643
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
6.59%
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%
$1,252,860
$1.3M
Cap Rate 7%
$894,900
$894.9K
Cap Rate 9%
$696,033
$696.0K
Market Conditions
NOI Build-Up for 5,000 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
$94.2K $18.84/SF
− Vacancy
−$4.7K −$0.94/SF
EGI
$89.5K $17.90/SF
− OpEx
−$26.8K −$5.37/SF
NOI
$62.6K $12.53/SF
Area
Metairie, LA
Vacancy
5.00%
Lease Rate
$18.84 /SF/Yr
Expense Ratio
30.00%
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%
$1,252,860
Cap Rate 7%
$894,900
Cap Rate 9%
$696,033
Alternative Uses
Best Use
Retail
$894.9K
$783.0K – $1.04M
NOI $62,643 @ 7.0% cap · market cap 6.59%
Second Best
Industrial
$858.3K
$751.0K – $1.00M
NOI $60,083 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,961 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility with three 14’ overhead doors and two 2-post lifts.
Where is this auto shop located?
The property is located at 3212 26 St Metairie, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Automotive service facility with three 14’ overhead doors; Includes two 2‑post lifts for vehicle service; Zoned BC2 Business Core District
