Elmwood Mixed-Use Commercial
For Sale
Contact for pricing
408 Commerce Point, Elmwood, LA 70123
Mixed-use property with warehouse and office suites in Elmwood.
Property Size8,350 SF
Price / SF$143.71
Days on Market186
Property Features for 408 Commerce Point
General Information
Standard status
Active
Size
8,350 SF
Total Parking Spaces
19
Property subtype
Office, Industrial
Zoning
IMU, Industrial Mixed Use District
Building Details
Year Built
1984
Stories
1
Listing Agency:
NAI Rampart
(504) 525-1311
Listed By:
Judith S Slack · License #LA
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 6:24AM
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 NAI Rampart
Investment Insights
Based on property information with market context.
Located in the heart of the Elmwood Business District, 408 Commerce Point is a mixed-use commercial property featuring both industrial warehouse space and small-format office suites. The building has approximately 8,350 sq. ft. and offers convenient access, practical layouts, and proximity to major commercial corridors in Jefferson Parish. The property contains 6 attractive service center style suites, some of which include climate-controlled warehouse space. Each unit has separate utilities, and parking is located right at the suite entrances. Suite E is the owner's suite and is currently vacant, as is Suite B. The building features a 2025 Fortified metal roof with a Certificate. The property is located within the I-MU Industrial Mixed-Use District, which is intended to accommodate areas transitioning from exclusively industrial to a broader mix of light industrial, artisan industrial, commercial, and moderate-density residential uses, encouraging the adaptive reuse of existing structures. Situated in Elmwood, one of Jefferson Parish's busiest commercial and industrial hubs, the property is surrounded by distribution centers, service businesses, retail, and office parks. It offers quick access to Clearview Parkway, Airline Drive, and Huey P. Long Bridge and is near Harahan, River Ridge, and Metairie business corridors.
Key Highlights
- Mixed‑use commercial property offering industrial warehouse and office suites, ideal for owner/occupant seeking rental income.
- Located in the heart of the Elmwood Business District, a thriving commercial and industrial area.
- Six service center style suites, each with separate utilities and parking at suite entrances.
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
$101,453
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
8.45%
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%
$2,029,060
$2.0M
Cap Rate 7%
$1,449,329
$1.4M
Cap Rate 9%
$1,127,256
$1.1M
Market Conditions
NOI Build-Up for 8,350 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
$180.4K $21.60/SF
− Vacancy
−$18.0K −$2.16/SF
EGI
$162.3K $19.44/SF
− OpEx
−$60.9K −$7.29/SF
NOI
$101.5K $12.15/SF
Area
ZIP 70123
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$2,029,060
Cap Rate 7%
$1,449,329
Cap Rate 9%
$1,127,256
Alternative Uses
Best Use
Office B
$1.66M
$1.45M – $1.94M
NOI $116,208 @ 7.0% cap · market cap 9.68%
Second Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,453 @ 7.0% cap · market cap 8.45%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,942 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with warehouse and office suites in Elmwood.
Where is this mixed-use property located?
The property is located at 408 Commerce Point Elmwood, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Mixed‑use commercial property offering industrial warehouse and office suites, ideal for owner/occupant seeking rental income.; Located in the heart of the Elmwood Business District, a thriving commercial and industrial area.; Six service center style suites, each with separate utilities and parking at suite entrances.
