Building Details

Year built 1964

Floors in Building 1

Listing Agency: RE/MAX Synergy · RE/MAX International j***@gmail.com Show Phone

Listed By: Jeffery Melancon Show Phone

Added: Aug 3 Changed: Aug 4 Last Checked: Aug 7 at 3:06PM

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MLS# 2570388

Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 6,390-square-foot flex property at 33 St. Charles Street includes a building constructed in 1964 and an adjacent vacant lot. The flexible commercial layout can accommodate retail, office, showroom, warehouse, or storage uses, providing multiple ways to configure the space for business operations.

On-site parking is available for customers and employees, while the additional lot offers space for expansion, parking, outdoor display, or future development. The property is located in Norco, Louisiana, within St. Charles Parish, and has C-2 zoning with public water service.

Key Highlights

• 6,390 square feet of flexible commercial building space
• Adjacent vacant lot for expansion, parking, outdoor display, or future development
• C‑2 zoning

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

$51,393

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

7.35%

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%

$1,027,860 $1.0M

Cap Rate 7%

$734,186 $734.2K

Cap Rate 9%

$571,033 $571.0K

Market Conditions

NOI Build-Up for 6,390 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

$63.6K $9.96/SF

− Vacancy

−$3.2K −$0.50/SF

EGI

$60.5K $9.46/SF

− OpEx

−$9.1K −$1.42/SF

NOI

$51.4K $8.04/SF

Area

St. Charles County, LA

Vacancy

5.00%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

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%

$1,027,860

Cap Rate 7%

$734,186

Cap Rate 9%

$571,033

Alternative Uses

Best Use

Retail

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,997 @ 7.0% cap · market cap 14.45%

Second Best

Office B

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,657 @ 7.0% cap · market cap 12.68%

Theoretical Best

Office A

$1.69M

$1.48M – $1.97M (±1% cap)

NOI $118,011 @ 7.0% cap · market cap 16.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Location Intelligence

Trade Area within ½ mile

141

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 70079, LA

2,970

Population

1,349

Households

2.2

Avg Household Size

39

Median Age

19%

College-Educated

86%

High-School Grad

1.8 sq mi

ZIP Area

1,650

Density / Sq Mi

$71,250

Median Household Income

$54,766

Median Earnings

$1,089

Median Rent

$232,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - C-2 zoning, on-site parking, and public water service support a range of commercial configurations.

Where is this flex space located?

The property is located at 33 ST. CHARLES Norco, LA.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 6,390 square feet of flexible commercial building space; Adjacent vacant lot for expansion, parking, outdoor display, or future development; C‑2 zoning