Colonnade Plaza Strip
For Sale
Contact for pricing
5803 Coliseum Blvd, Alexandria, LA 71303
Strip center with seven suites, six currently leased under a mix of NNN and Modified Gross arrangements.
Property Size20,666 SF
Price / SF$145.17
Days on Market893
Property Features for 5803 Coliseum Blvd
General Information
Standard status
Active
Size
20,666 SF
Class
B
Property subtype
Retail
Zoning
Commercial
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Built
1985
Year Renovated
2022
Buildings
1
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
NAI Rampart Alexandria
Listed By:
Jack Hodges Jr · License #LA SALE.0000070147-ACT
(318) 481-8757
Source:
Crexi
Added: Apr 4, 2024
Changed: Sep 4
Last Checked: Sep 13 at 4:33AM
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 NAI Rampart Alexandria
Investment Insights
Based on property information with market context.
Colonnade Plaza is a strip center featuring seven individual retail suites. The property’s current occupancy is partially stabilized, with six of the seven suites leased. Lease structures vary across the leased units, with some suites operating on NNN terms and others on Modified Gross terms.
The asset is located at 5803 Coliseum Blvd in Alexandria, Louisiana. Its configuration as a multi-suite retail center provides multiple unit options within one consolidated property, which can simplify leasing and operational coordination compared with standalone storefronts.
For buyers or serious tenants evaluating retail real estate, the combination of multiple suites and existing leased tenancy offers a straightforward path to assess current income mix and future leasing needs. Tenants looking for space in a center environment may find the suite-by-suite structure useful when planning for location within the same property. Investors can review the current lease terms across the leased suites, including the distinction between NNN and Modified Gross, to better understand ongoing operating responsibilities and tenant commitments.
The asset is located at 5803 Coliseum Blvd in Alexandria, Louisiana. Its configuration as a multi-suite retail center provides multiple unit options within one consolidated property, which can simplify leasing and operational coordination compared with standalone storefronts.
For buyers or serious tenants evaluating retail real estate, the combination of multiple suites and existing leased tenancy offers a straightforward path to assess current income mix and future leasing needs. Tenants looking for space in a center environment may find the suite-by-suite structure useful when planning for location within the same property. Investors can review the current lease terms across the leased suites, including the distinction between NNN and Modified Gross, to better understand ongoing operating responsibilities and tenant commitments.
Key Highlights
- Colonnade Plaza strip center with 7 suites.
- Six of the seven suites are currently leased.
- Leases include a mix of NNN and Modified Gross arrangements.
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
$248,674
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
8.29%
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%
$4,973,480
$5.0M
Cap Rate 7%
$3,552,486
$3.6M
Cap Rate 9%
$2,763,044
$2.8M
Market Conditions
NOI Build-Up for 20,666 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
$372.0K $18.00/SF
− Vacancy
−$16.7K −$0.81/SF
EGI
$355.2K $17.19/SF
− OpEx
−$106.6K −$5.16/SF
NOI
$248.7K $12.03/SF
Area
Rapides County, LA
Vacancy
4.50%
Lease Rate
$18.00 /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%
$4,973,480
Cap Rate 7%
$3,552,486
Cap Rate 9%
$2,763,044
Alternative Uses
Best Use
Retail
$3.55M
$3.11M – $4.14M
NOI $248,674 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.70M
$4.98M – $6.65M
NOI $398,771 @ 7.0% cap · market cap 13.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
216k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 43%
Dining 29%
Shops & Services 26%
Beauty & Spa 1%
Walmart
Superstores
92,183 visits/mo
0.4 miles
Murphy USA
Shops & Services
27,806 visits/mo
0.3 miles
Wendy's
Dining
16,416 visits/mo
0.2 miles
SONIC Drive In
Dining
15,516 visits/mo
0.3 miles
Shell
Shops & Services
15,391 visits/mo
0.3 miles
Demographics for 71303, LA
22,797
Population
10,388
Households
2.2
Avg Household Size
38
Median Age
32%
College-Educated
87%
High-School Grad
63.4 sq mi
ZIP Area
360
Density / Sq Mi
$66,761
Median Household Income
$40,687
Median Earnings
$1,115
Median Rent
$232,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip center with seven suites, six currently leased under a mix of NNN and Modified Gross arrangements.
Where is this strip mall located?
The property is located at 5803 Coliseum Blvd Alexandria, LA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Colonnade Plaza strip center with 7 suites.; Six of the seven suites are currently leased.; Leases include a mix of NNN and Modified Gross arrangements.
