Two-Building Auto Shop
For Sale
$210,000
4228 Touro St, New Orleans, LA 70122
Two auto shops are accompanied by two vacant lots and month-to-month tenant occupancy.
Property Size2,240 SF
Price / SF$93.75
Days on Market42
Property Features for 4228 Touro St
General Information
Standard status
Active
Size
2,240 SF
Property Condition
Severity
Teardown
Evidence
House is probably a tear down
Building Details
Year Built
1941
Buildings
3
Listing Agency:
Engel & Volkers Slidell - Mandeville
(985) 774-1159
Listed By:
Carol Richard · License #50129
Source:
Dominionplace
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 8:19PM
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 Engel & Volkers Slidell - Mandeville
Investment Insights
Based on property information with market context.
This automotive property includes two auto shop buildings with a combined reported property size of 2,240 square feet. One shop is identified at 4226 Touro St., while the property record is associated with 4228 Touro St. in New Orleans; the second shop is located at 2096 Mandolin St. The improvements date to 1941.
Two additional vacant lots are included in the sale. Both auto shops are occupied under month-to-month rental arrangements, providing an existing operating setup with flexible lease terms. The property also includes a house structure, as referenced in the property information.
Two additional vacant lots are included in the sale. Both auto shops are occupied under month-to-month rental arrangements, providing an existing operating setup with flexible lease terms. The property also includes a house structure, as referenced in the property information.
Key Highlights
- Two auto shop buildings included
- Reported property size: 2,240 square feet
- Auto shop at 4226 Touro St.
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
$13,406
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
6.38%
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%
$268,120
$268.1K
Cap Rate 7%
$191,514
$191.5K
Cap Rate 9%
$148,956
$149.0K
Market Conditions
NOI Build-Up for 2,240 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
$20.2K $9.00/SF
− Vacancy
−$1.0K −$0.45/SF
EGI
$19.2K $8.55/SF
− OpEx
−$5.7K −$2.56/SF
NOI
$13.4K $5.98/SF
Area
ZIP 70122
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$268,120
Cap Rate 7%
$191,514
Cap Rate 9%
$148,956
Alternative Uses
Best Use
Retail
$490.3K
$429.0K – $572.0K
NOI $34,320 @ 7.0% cap · market cap 16.34%
Second Best
Industrial
$191.5K
$167.6K – $223.4K
NOI $13,406 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$586.1K
$512.9K – $683.8K
NOI $41,030 @ 7.0% cap · market cap 19.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
51k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Apparel 11%
Electronics 10%
Dining 10%
Family Dollar
Shops & Services
16,906 visits/mo
0.2 miles
Regions Bank
Shops & Services
8,580 visits/mo
0.3 miles
Pizza Hut
Dining
4,881 visits/mo
0.2 miles
Rainbow
Apparel
3,088 visits/mo
0.3 miles
Whitney Bank
Shops & Services
2,483 visits/mo
0.4 miles
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Similar Off Market Nearby
- Auto World — 3622 Paris Ave, New Orleans, LA 70122
- Gentilly Auto Glass and Tint — 3622 Paris Ave, New Orleans, LA 70122
- A-1 Auto Tire Repair-Car Wash — 3745 Frenchmen St, New Orleans, LA 70122
- Central Mustang & Auto Repairs — 4226 Touro St, New Orleans, LA 70122
- Expresslane Automotive — Paris Ave, New Orleans, LA 70122
Frequently Asked Questions
What type of property is this?
Auto shop - Two auto shops are accompanied by two vacant lots and month-to-month tenant occupancy.
Where is this auto shop located?
The property is located at 4228 Touro St New Orleans, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two auto shop buildings included; Reported property size: 2,240 square feet; Auto shop at 4226 Touro St.
