Mixed-Use Corner
For Sale
$1,000,000
361 /363 Whitney Ave, Gretna, LA 70056
MUCD-zoned property combines commercial buildings and a residential structure beside an established regional shopping center.
Property Size6,485 SF
Price / SF$154.20
Days on Market87
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Property Features for 361 /363 Whitney Ave
General Information
Standard status
Active
Size
6,485 SF
Building Details
Year Built
1950
Listing Agency:
Generations Realty Group, LLC
Listed By:
Mary Cheramie · License #995713763
(504) 400-1893
Source:
Fiorellaavenue
Added: Jul 21
Changed: Oct 14
Last Checked: Oct 7 at 5:16PM
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 Generations Realty Group, LLC
Investment Insights
Based on property information with market context.
This mixed-use property in Gretna includes two income-producing commercial buildings along Whitney Avenue and a vacant single-family residence on Costanza Drive. The improvements comprise a ±2,000 SF cement-block building with a ±450 SF addition at 361 Whitney Avenue, a ±1,500 SF cement-block building at 363 Whitney Avenue, and the brick residence at 124 Costanza Drive. The commercial buildings are leased to Fine Line, Inc. and Versatile Floors, respectively.
The ±1.3-acre corner site fronts approximately 142.7 feet on Whitney Avenue and approximately 400 feet on Costanza Drive. Its MUCD zoning supports a range of stated uses, including retail, office, medical, and hospitality. The property adjoins Oakwood Shopping Center, anchored by Dillard’s, JCPenney, and Dick’s Sporting Goods, and is approximately five minutes from Downtown New Orleans with access to the Westbank Expressway (US-90).
The ±1.3-acre corner site fronts approximately 142.7 feet on Whitney Avenue and approximately 400 feet on Costanza Drive. Its MUCD zoning supports a range of stated uses, including retail, office, medical, and hospitality. The property adjoins Oakwood Shopping Center, anchored by Dillard’s, JCPenney, and Dick’s Sporting Goods, and is approximately five minutes from Downtown New Orleans with access to the Westbank Expressway (US-90).
Key Highlights
- ±1.3‑acre corner parcel in Gretna, Louisiana
- Approximately 142.7 feet of frontage on Whitney Avenue and approximately 400 feet on Costanza Drive
- MUCD zoning allows retail, office, medical, hospitality, and other stated uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,602
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,712,040
$1.7M
Cap Rate 7%
$1,222,886
$1.2M
Cap Rate 9%
$951,133
$951.1K
Market Conditions
NOI Build-Up for 6,485 SF
Gross rent
$155.6K $24.00/SF
− Vacancy
−$18.7K −$2.88/SF
EGI
$137.0K $21.12/SF
− OpEx
−$51.4K −$7.92/SF
NOI
$85.6K $13.20/SF
Area
Jefferson County, LA
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,712,040
Cap Rate 7%
$1,222,886
Cap Rate 9%
$951,133
Alternative Uses
Best Use
Retail
$1.46M
$1.28M – $1.71M
NOI $102,498 @ 7.0% cap · market cap 10.25%
Second Best
Mixed Use
$1.22M
$1.07M – $1.43M
NOI $85,602 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,765 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,611
Businesses Nearby
198k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 43%
Shops & Services 34%
Dining 15%
Hotels & Casinos 7%
Dillard's
Apparel
45,292 visits/mo
0.3 miles
Shell
Shops & Services
22,444 visits/mo
0.4 miles
JCPenney
Apparel
21,413 visits/mo
0.1 miles
McDonald's
Dining
21,139 visits/mo
0.5 miles
Dollar Tree
Shops & Services
20,693 visits/mo
0.1 miles
Demographics for 70056, LA
41,498
Population
15,784
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
6,103
Density / Sq Mi
$61,831
Median Household Income
$36,062
Median Earnings
$1,163
Median Rent
$223,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - MUCD-zoned property combines commercial buildings and a residential structure beside an established regional shopping center.
Where is this mixed-use property located?
The property is located at 361 /363 Whitney Ave Gretna, LA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: ±1.3‑acre corner parcel in Gretna, Louisiana; Approximately 142.7 feet of frontage on Whitney Avenue and approximately 400 feet on Costanza Drive; MUCD zoning allows retail, office, medical, hospitality, and other stated uses
