Mixed-Use Commercial
3232 General Meyer Ave, New Orleans, LA 70114
For Sale
$559,000
The store has not operated for several years.
Property Size4,722 SF
Price / SF$118.38
Days on Market1028
Property Features for 3232 General Meyer Ave
General Information
Standard status
Size
Site & Location
Neighborhood
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Joyce R Guidroz · License LA #995682077
(504) 390-7651
Source:
Exprealty
Added: Jan 22, 2024
Changed: Nov 12
Last Checked: Nov 12 at 2:24PM
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 KELLER WILLIAMS REALTY 4550100
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,722-square-foot mixed-use commercial property includes a store space that has been closed for several years. The source information also identifies tire-service and grocery uses as possible components, but does not establish that either business is currently operating.
Key Highlights
- 4,722 square feet of mixed‑use commercial space
- Store space has been closed for several years
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
Mixed Use
$910.7K
$796.8K – $1.06M
NOI $63,747 @ 7.0% cap · market cap 11.40%
Second Best
Retail
$833.0K
$728.8K – $971.8K
NOI $58,307 @ 7.0% cap · market cap 10.43%
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
Who owns this building?
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
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
$194,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in New Orleans, LA
Properties on Market for Mixed-use properties in New Orleans
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - The store has not operated for several years.
Where is this mixed-use property located?
The property is located at 3232 General Meyer Ave New Orleans, 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 feet of mixed‑use commercial space; Store space has been closed for several years
