Single-Tenant Restaurant
New
For Sale
$499,000
4221 Williams Blvd, Kenner, LA 70065
Freestanding restaurant occupied by Pepe's Mexican Grill under an NNN lease structure.
Property Size2,200 SF
Price / SF$226.82
Days on Market6
Property Features for 4221 Williams Blvd
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Cap Rate
7.93%
Building Details
Building Size
2,200 SF
Tenancy
Single
Listing Agency:
Elifin Realty - New Orleans, LA
(985) 703-1140
Listed By:
Brady Becker · License #955716500
(985) 703-1140
Source:
Elifinrealty
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 20 at 5:14AM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
Located at 4221 Williams Blvd in Kenner, Louisiana, this freestanding restaurant property contains approximately 2,200 square feet and is configured for a single occupant. The building is occupied by Pepe's Mexican Grill, which operates under Pepes Group of Kenner LLC.
The property is offered as a restaurant investment with an NNN lease structure and a stated 7.93% CAP rate. Its existing restaurant use and single-tenant configuration provide a straightforward operating profile for a commercial buyer.
The property is offered as a restaurant investment with an NNN lease structure and a stated 7.93% CAP rate. Its existing restaurant use and single-tenant configuration provide a straightforward operating profile for a commercial buyer.
Key Highlights
- Freestanding restaurant building with approximately 2,200 SF
- Single‑tenant occupancy by Pepe's Mexican Grill
- NNN lease structure
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
$37,256
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
7.47%
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%
$745,120
$745.1K
Cap Rate 7%
$532,229
$532.2K
Cap Rate 9%
$413,956
$414.0K
Market Conditions
NOI Build-Up for 2,200 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
$50.7K $23.04/SF
− Vacancy
−$1.0K −$0.46/SF
EGI
$49.7K $22.58/SF
− OpEx
−$12.4K −$5.64/SF
NOI
$37.3K $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%
$745,120
Cap Rate 7%
$532,229
Cap Rate 9%
$413,956
Alternative Uses
Best Use
Specialty Retail
$532.2K
$465.7K – $620.9K
NOI $37,256 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$580.4K
$507.9K – $677.2K
NOI $40,630 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Dining 37%
Shops & Services 14%
Electronics 3%
Rouses Market
Groceries
31,648 visits/mo
0.3 miles
Golden Corral
Dining
19,560 visits/mo
0.4 miles
Valero Energy
Shops & Services
5,100 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,678 visits/mo
0.2 miles
Krispy Krunchy Chicken
Dining
2,265 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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant occupied by Pepe's Mexican Grill under an NNN lease structure.
Where is this conventional restaurant located?
The property is located at 4221 Williams Blvd Kenner, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Freestanding restaurant building with approximately 2,200 SF; Single‑tenant occupancy by Pepe's Mexican Grill; NNN lease structure
