Office-Forward Flex
For Sale
Contact for pricing
5625 Salmen Street, Elmwood, LA 70123
Fully conditioned flex space with renovated offices and loading access via two overhead doors.
Property Size10,000 SF
Price / SF$140
Days on Market66
Property Features for 5625 Salmen Street
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail, Office, Industrial
Additional Details
Drive-In Doors
2
Building Details
Year Renovated
2021
Listing Agency:
Beau Box Commercial Real Estate New Orleans
(504) 265-2000
Listed By:
Jordan Johnson · License #995683431
Source:
Crexi
Added: Jun 4
Changed: Jul 10
Last Checked: Aug 7 at 4:14AM
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 Beau Box Commercial Real Estate New Orleans
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.
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 = 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
$109,980
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
7.86%
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%
$2,199,600
$2.2M
Cap Rate 7%
$1,571,143
$1.6M
Cap Rate 9%
$1,222,000
$1.2M
Market Conditions
NOI Build-Up for 10,000 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
$180.0K $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 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%
$2,199,600
Cap Rate 7%
$1,571,143
Cap Rate 9%
$1,222,000
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,172 @ 7.0% cap · market cap 9.94%
Second Best
Flex RnD
$1.57M
$1.37M – $1.83M
NOI $109,980 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$2.57M
$2.24M – $2.99M
NOI $179,572 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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
