Corner Office
For Sale
$500,000
3745 Florida Ave, Kenner, LA 70065
Corner brick office building with 16 parking spaces and 24-hour access via Supra lockbox.
Property Size3,200 SF
Price / SF$156.25
Days on Market88
Property Features for 3745 Florida Ave
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
16
Building Details
Stories
2
Listing Agency:
Compass Kenner
(504) 443-6464
Listed By:
Marian Arnoult-Jackson · License #58114
(504) 250-8202
Source:
Exprealty
Added: Jun 15
Changed: Sep 8
Last Checked: Sep 9 at 8:49PM
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 Compass Kenner
Investment Insights
Based on property information with market context.
Corner commercial brick building previously used as a dance studio, now offered as office space. The property is configured as two levels, with the option to subdivide for separate rentals downstairs and upstairs.
The building is described as having high visibility in a well-established Green Lawn Terrace Kenner location, and includes 16 parking places on site. A Supra lockbox provides 24-hour access.
For sale details are provided along with rental options if the building is subdivided: downstairs rental at $2,000 per month and upstairs rental at $1,400 per month.
The building is described as having high visibility in a well-established Green Lawn Terrace Kenner location, and includes 16 parking places on site. A Supra lockbox provides 24-hour access.
For sale details are provided along with rental options if the building is subdivided: downstairs rental at $2,000 per month and upstairs rental at $1,400 per month.
Key Highlights
- 1975 corner brick commercial building previously used as a dance studio
- 16 parking places for customer or tenant use
- 24‑hour access via Supra lockbox
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
$44,398
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
8.88%
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%
$887,960
$888.0K
Cap Rate 7%
$634,257
$634.3K
Cap Rate 9%
$493,311
$493.3K
Market Conditions
NOI Build-Up for 3,200 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
$72.2K $22.56/SF
− Vacancy
−$13.0K −$4.06/SF
EGI
$59.2K $18.50/SF
− OpEx
−$14.8K −$4.62/SF
NOI
$44.4K $13.87/SF
Area
Jefferson County, LA
Vacancy
18.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$887,960
Cap Rate 7%
$634,257
Cap Rate 9%
$493,311
Alternative Uses
Best Use
Office B
$634.3K
$555.0K – $740.0K
NOI $44,398 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,098 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 70065, LA
51,484
Population
21,890
Households
2.4
Avg Household Size
40
Median Age
32%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
6,436
Density / Sq Mi
$65,899
Median Household Income
$41,058
Median Earnings
$1,123
Median Rent
$255,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Corner brick office building with 16 parking spaces and 24-hour access via Supra lockbox.
Where is this office units located?
The property is located at 3745 Florida Ave Kenner, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1975 corner brick commercial building previously used as a dance studio; 16 parking places for customer or tenant use; 24‑hour access via Supra lockbox
