Neighborhood Retail Suite
For Sale
$1,699,000
500 VINTAGE Drive, Kenner, LA 70065
Renovated neighborhood shopping center offers flexible Suite B space with strong existing retail tenant mix.
Property Size10,580 SF
Price / SF$435.64
Days on Market72
Property Features for 500 VINTAGE Drive
General Information
Standard status
Active
Size
10,580 SF
Building Details
Building Size
10,580 SF
Year Built
1983
Year Renovated
2024
Tenancy
Multi
Listing Agency:
Jack Stumpf & Associates, Inc.
(504) 390-1241
Listed By:
Jon Cerruti · License #50436
(504) 390-1241
Source:
Talbot-realty
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 11 at 4:41AM
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 Jack Stumpf & Associates, Inc.
Investment Insights
Based on property information with market context.
This neighborhood shopping center underwent a complete exterior renovation in 2024, bringing updated curb appeal to the property. Suite B is currently occupied and provides flexibility for future use, with approximately 3,900 square feet that can be configured to accommodate as little as 3,200 square feet or expanded to approximately 5,800 square feet, depending on a tenant’s needs.
The center’s current tenant mix includes Flavors Ice Cream, Mawi Tortillas, Studio 2.0 Dance Studio, Nailscape Nail Salon, and Lilly Anne Photography. The property serves a customer base of approximately 17,000 residents within a one-mile radius and more than 45,000 residents within two miles.
For an owner-user, Suite B presents a workable path to establish a business while benefiting from rental income generated by the existing tenants at the center. The ability to right-size the footprint supports a range of neighborhood retail and service concepts within an actively tenanted retail environment.
The center’s current tenant mix includes Flavors Ice Cream, Mawi Tortillas, Studio 2.0 Dance Studio, Nailscape Nail Salon, and Lilly Anne Photography. The property serves a customer base of approximately 17,000 residents within a one-mile radius and more than 45,000 residents within two miles.
For an owner-user, Suite B presents a workable path to establish a business while benefiting from rental income generated by the existing tenants at the center. The ability to right-size the footprint supports a range of neighborhood retail and service concepts within an actively tenanted retail environment.
Key Highlights
- Neighborhood shopping center built in 1983 with complete exterior renovation in 2024
- Suite B is approximately 3,900 SF and can be configured from about 3,200 SF up to approximately 5,800 SF
- Current tenants include Flavors Ice Cream, Mawi Tortillas, Studio 2.0 Dance Studio, Nailscape Nail Salon, and Lilly Anne Photography
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
$61,641
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
3.63%
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%
$1,232,820
$1.2M
Cap Rate 7%
$880,586
$880.6K
Cap Rate 9%
$684,900
$684.9K
Market Conditions
NOI Build-Up for 3,900 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
$89.9K $23.04/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$88.1K $22.58/SF
− OpEx
−$26.4K −$6.77/SF
NOI
$61.6K $15.81/SF
Area
Jefferson County, LA
Vacancy
2.00%
Lease Rate
$23.04 /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%
$1,232,820
Cap Rate 7%
$880,586
Cap Rate 9%
$684,900
Alternative Uses
Best Use
Retail
$880.6K
$770.5K – $1.03M
NOI $61,641 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.3K – $1.20M
NOI $72,025 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Renovated neighborhood shopping center offers flexible Suite B space with strong existing retail tenant mix.
Where is this shopping center located?
The property is located at 500 VINTAGE Drive Kenner, LA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Neighborhood shopping center built in 1983 with complete exterior renovation in 2024; Suite B is approximately 3,900 SF and can be configured from about 3,200 SF up to approximately 5,800 SF; Current tenants include Flavors Ice Cream, Mawi Tortillas, Studio 2.0 Dance Studio, Nailscape Nail Salon, and Lilly Anne Photography
