Auto Shop with Retail
3232 General Meyer Avenue, Algiers, LA 70114
For Sale
$559,000
Commercial Sale, Algiers, LA
Property Size4,722 SF
Lot Size0.50 Acres
Price / SF$118.38
Days on Market1027
Property Features for 3232 General Meyer Avenue
General Information
Property type
Property subtype
Zoning
Parking
Subdivision
Lot features
Directions
Standard status
Size
Lot size
Additional Details
Real Estate Included
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Building materials
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Joyce R Guidroz · License LA #995682077
(504) 390-7651
Added: Jan 22, 2024
Changed: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 2430854
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 3232 General Meyer Avenue in Algiers, this 4,722-square-foot commercial building is classified as an auto shop and includes space previously used for a tire business and a grocery store. The grocery operation has been closed for several years. Block and metal siding construction dates to 1952, and the parcel encompasses 0.5 acres.
Public water and public sewer serve the property. The address is in Orleans Parish, Louisiana, within ZIP code 70114.
Public water and public sewer serve the property. The address is in Orleans Parish, Louisiana, within ZIP code 70114.
Key Highlights
- 4,722‑square‑foot building on a 0.5‑acre parcel
- Automotive shop and former grocery store areas in one building
- Block and metal siding construction; built in 1952
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,145
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,900
$602.9K
Cap Rate 7%
$430,643
$430.6K
Cap Rate 9%
$334,944
$334.9K
Market Conditions
NOI Build-Up for 4,722 SF
Gross rent
$45.3K $9.60/SF
− Vacancy
−$2.3K −$0.48/SF
EGI
$43.1K $9.12/SF
− OpEx
−$12.9K −$2.74/SF
NOI
$30.1K $6.38/SF
Area
New Orleans, LA
Vacancy
5.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,900
Cap Rate 7%
$430,643
Cap Rate 9%
$334,944
Alternative Uses
Best Use
Retail
$833.0K
$728.8K – $971.8K
NOI $58,307 @ 7.0% cap · market cap 10.43%
Second Best
Industrial
$430.6K
$376.8K – $502.4K
NOI $30,145 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,012 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 35%
Home Improvements & Furnishings 11%
Sam's Southern Eatery
Dining
2,766 visits/mo
0.1 miles
Texaco
Shops & Services
1,805 visits/mo
0.2 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
592 visits/mo
0.2 miles
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 South region
Similar Off Market Nearby
- Nola Tint Studio — 1645 Shirley Dr, New Orleans, LA 70114
- Reliable Roadside Assistance — 1437 Tita St, New Orleans, LA 70114
- AGAME AUTO REFINISH LLC — 3300 General Meyer Ave, New Orleans, LA 70114
- Lee's Tire Shop — 3232 General Meyer Ave, New Orleans, LA 70114
- Overspeed Motorsports — 3300 General Meyer Ave, New Orleans, LA 70114
Frequently Asked Questions
What type of property is this?
Auto shop - The building combines automotive service space with a former grocery store area and public water and sewer connections.
Where is this auto shop located?
The property is located at 3232 General Meyer Avenue Algiers, LA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 4,722‑square‑foot building on a 0.5‑acre parcel; Automotive shop and former grocery store areas in one building; Block and metal siding construction; built in 1952
