5625 Salmen Street, Elmwood, LA 70123

Building Details

Building Size 10,000 SF More

Year Renovated 2021 More

Listing Agency: Beau Box Commercial Real Estate New Orleans

Listed By: Jordan Johnson · License #995683431 Show Phone

Source: Beaubox

Added: Jun 16 Changed: Nov 6 Last Checked: Nov 6 at 7:23AM

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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 Beau Box Commercial Real Estate New Orleans

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Investment Insights

Based on property information with market context.

5625 Salmen Street is an approximately 10,000 SF fully conditioned flex facility in the Elmwood industrial market. The building was comprehensively renovated in 2021 and is configured primarily with office and open work areas. Interior improvements include HVAC throughout, updated finishes, seven private offices, conference space, a large cubicle area, a kitchen, and three restrooms.

Operational access is supported by a loading area with two 10' x 12' overhead doors. The property is described as an office-forward facility within a light industrial zoning district.

This layout is well suited for tenants that want an industrial-flex environment paired with substantial dedicated office and meeting space. With multiple private offices, open work areas, and conference and breakroom support, the building can accommodate a range of office-intensive operations while maintaining functional loading capability through the two overhead doors.

Key Highlights

• Approximately 10,000 SF fully conditioned flex space in the Elmwood industrial market
• Comprehensively renovated in 2021 with updated interior finishes and HVAC throughout
• Office‑forward layout with 7 private offices, conference space, and a large cubicle area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$109,980

Cap Rate

7.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,199,600 $2.2M

Cap Rate 7%

$1,571,143 $1.6M

Cap Rate 9%

$1,222,000 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,000 SF

Gross rent

$180.0K $18.00/SF

− Vacancy

−$10.8K −$1.08/SF

EGI

$169.2K $16.92/SF

− OpEx

−$59.2K −$5.92/SF

NOI

$110.0K $11.00/SF

Area

ZIP 70123

Vacancy

6.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,199,600

Cap Rate 7%

$1,571,143

Cap Rate 9%

$1,222,000

Alternative Uses

Best Use

Office B

$1.99M

$1.74M – $2.32M (±1% cap)

NOI $139,172 @ 7.0% cap · market cap 9.94%

Second Best

Flex RnD

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,980 @ 7.0% cap · market cap 7.86%

Theoretical Best

Office A

$2.57M

$2.24M – $2.99M (±1% cap)

NOI $179,572 @ 7.0% cap · market cap 12.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Keslow Camera New ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Parking Lot & Garage Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

1,456

Businesses Nearby

Balanced

Demand for This Use

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

Average Price Trend$/SF for Flex space in Jefferson County, LA

$138 Jul

$120 Aug

$137 Sep

$140 Oct

Properties on Market for Flex space in Jefferson County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar Off Market Nearby

• American Roadshow Catering — 1205 N Al Davis Rd, New Orleans, LA 70123
• The Moore Venue — 5616 Citrus Blvd, New Orleans, LA 70123
• 12 Seasons Catering & Events — 5616 Citrus Blvd, New Orleans, LA 70123
• la Madeleine — 1200 S Clearview Pkwy Suite 1314, Harahan, LA 70123

Frequently Asked Questions

What type of property is this?

Flex space - Fully conditioned flex space with renovated offices and loading access via two overhead doors.

Where is this flex space located?

The property is located at 5625 Salmen Street Elmwood, LA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Approximately 10,000 SF fully conditioned flex space in the Elmwood industrial market; Comprehensively renovated in 2021 with updated interior finishes and HVAC throughout; Office‑forward layout with 7 private offices, conference space, and a large cubicle area