Freestanding Neighborhood
For Sale
Contact for pricing
3805 Florida Ave, Kenner, LA 70065
Single-story masonry retail property with C-1 Neighborhood Commercial zoning and a covered storefront walkway.
Property Size967 SF
Lot Size0.13 Acres
Price / SF$299.90
Days on Market9
Property Features for 3805 Florida Ave
General Information
Standard status
Active
Size
967 SF
Lot size
0.13 Acres
Property subtype
Retail
Zoning
C-1
Additional Details
Asking Price
$290,000
Corner Location
No
Liquor License
No
Amenities
covered walkway
Building Details
Buildings
1
Stories
1
Construction
masonry
Tenancy
Single
Listing Agency:
RE/MAX Commercial Brokers Inc
Listed By:
Max Juge · License #995716624
Source:
Crexi
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 22 at 6:11PM
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 RE/MAX Commercial Brokers Inc
Investment Insights
Based on property information with market context.
This 967 SF freestanding grocery and convenience property occupies a 0.1314-acre lot in Jefferson Parish. The single-story masonry building sits beneath a pitched roof and features a covered walkway along the storefront. A striped concrete parking area fronts Florida Avenue and includes wheel stops plus a marked ADA space.
The property is operating as Mi Pequeña Honduras Market, a neighborhood grocery, and is currently occupied under a month-to-month tenancy. C-1 Neighborhood Commercial zoning supports a range of neighborhood retail and service uses. The property is existing construction, and the adjacent 3803 Florida Ave property, occupied by the affiliated Mi Pequeña Honduras Restaurant, is separately available for buyers considering a combined acquisition of roughly 0.26 acres under common tenancy. The pro forma cap rate is 8.19%.
The property is operating as Mi Pequeña Honduras Market, a neighborhood grocery, and is currently occupied under a month-to-month tenancy. C-1 Neighborhood Commercial zoning supports a range of neighborhood retail and service uses. The property is existing construction, and the adjacent 3803 Florida Ave property, occupied by the affiliated Mi Pequeña Honduras Restaurant, is separately available for buyers considering a combined acquisition of roughly 0.26 acres under common tenancy. The pro forma cap rate is 8.19%.
Key Highlights
- 967 SF freestanding retail building on a 0.1314‑acre lot
- C‑1 Neighborhood Commercial zoning
- Operating neighborhood grocery with month‑to‑month tenancy
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
$16,376
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
5.65%
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%
$327,520
$327.5K
Cap Rate 7%
$233,943
$233.9K
Cap Rate 9%
$181,956
$182.0K
Market Conditions
NOI Build-Up for 967 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
$22.3K $23.04/SF
− Vacancy
−$446 −$0.46/SF
EGI
$21.8K $22.58/SF
− OpEx
−$5.5K −$5.64/SF
NOI
$16.4K $16.93/SF
Area
Jefferson County, LA
Vacancy
2.00%
Lease Rate
$23.04 /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%
$327,520
Cap Rate 7%
$233,943
Cap Rate 9%
$181,956
Alternative Uses
Best Use
Specialty Retail
$233.9K
$204.7K – $272.9K
NOI $16,376 @ 7.0% cap · market cap 5.65%
Second Best
Retail
$218.3K
$191.1K – $254.7K
NOI $15,284 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$255.1K
$223.2K – $297.7K
NOI $17,859 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
220k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Groceries 36%
Dining 19%
Home Improvements & Furnishings 2%
Walmart Neighborhood Market
Groceries
48,573 visits/mo
0.4 miles
Rouses Market
Groceries
31,648 visits/mo
0.2 miles
Circle K
Shops & Services
30,284 visits/mo
0.5 miles
Golden Corral
Dining
19,560 visits/mo
0.2 miles
Chase Bank
Shops & Services
18,494 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
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- KASED'S INTERNATIONAL HALAL MARKET KENNER — 3645 Florida Ave, Kenner, LA 70065
- Ceibeno Supermaket — 3901 Williams Blvd, Kenner, LA 70065
- Rouses Market — 4041 Williams Blvd Suite A22, Kenner, LA 70065
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single-story masonry retail property with C-1 Neighborhood Commercial zoning and a covered storefront walkway.
Where is this grocery and convenience store located?
The property is located at 3805 Florida Ave Kenner, LA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 967 SF freestanding retail building on a 0.1314‑acre lot; C‑1 Neighborhood Commercial zoning; Operating neighborhood grocery with month‑to‑month tenancy
