Mixed-Use Property with
For Sale
$534,000
587 Florida Ave SE, Denham Springs, LA 70726
C-3 zoning combines restaurant space with four residential rental units.
Property Size5,270 SF
Price / SF$101.33
Days on Market441
Property Features for 587 Florida Ave SE
General Information
Standard status
Active
Size
5,270 SF
Property subtype
Investment
Zoning
C-3
Occupancy
100%
Net Operating Income
$57,930
Additional Details
Floor
1
Commercial Hood
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Partners
Listed By:
Douglas Ferris
(225) 954-4747
Source:
Lacdb.resimplifi
Added: Aug 1, 2025
Changed: Oct 13
Last Checked: Oct 14 at 7:49PM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This C-3 mixed-use building contains approximately 5,270 square feet across restaurant and residential components. The first-floor restaurant occupies approximately 2,192 square feet and includes two dining areas, a service bar, two restrooms, a commercial kitchen with fire suppression and exhaust equipment, and a storage area with a walk-in cooler. The kitchen and work areas have vinyl tile flooring, fluorescent lighting, and eight- to nine-foot ceilings, while the dining areas feature tile flooring.
The east side of the building includes four residential rental units totaling approximately 3,078 square feet. One three-bedroom, two-bath apartment is on the first floor, with three additional apartments on the second floor. Residential features include kitchen cabinetry, range/ovens, refrigerators, washer/dryers, vinyl tile or laminate flooring, and eight-foot ceilings. The building has six central air-conditioning units, and each apartment is separately metered. The restaurant space is fully leased under a recently signed three-year lease.
The east side of the building includes four residential rental units totaling approximately 3,078 square feet. One three-bedroom, two-bath apartment is on the first floor, with three additional apartments on the second floor. Residential features include kitchen cabinetry, range/ovens, refrigerators, washer/dryers, vinyl tile or laminate flooring, and eight-foot ceilings. The building has six central air-conditioning units, and each apartment is separately metered. The restaurant space is fully leased under a recently signed three-year lease.
Key Highlights
- Approximately 5,270 square feet in a C‑3 mixed‑use building
- 2,192‑square‑foot restaurant with two dining areas, service bar, kitchen, restrooms, and storage
- Four residential rental units totaling approximately 3,078 sq.ft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,253
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,060
$965.1K
Cap Rate 7%
$689,329
$689.3K
Cap Rate 9%
$536,144
$536.1K
Market Conditions
NOI Build-Up for 5,270 SF
Gross rent
$92.3K $17.52/SF
− Vacancy
−$4.6K −$0.87/SF
EGI
$87.7K $16.65/SF
− OpEx
−$39.5K −$7.49/SF
NOI
$48.3K $9.16/SF
Area
Livingston County, LA
Vacancy
4.98%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,060
Cap Rate 7%
$689,329
Cap Rate 9%
$536,144
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,348 @ 7.0% cap · market cap 16.54%
Second Best
Multifamily LT 5
$777.2K
$680.1K – $906.8K
NOI $54,405 @ 7.0% cap · market cap 10.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 70726, LA
59,586
Population
24,925
Households
2.4
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
88.2 sq mi
ZIP Area
676
Density / Sq Mi
$77,129
Median Household Income
$41,240
Median Earnings
$1,180
Median Rent
$215,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - C-3 zoning combines restaurant space with four residential rental units.
Where is this mixed-use property located?
The property is located at 587 Florida Ave SE Denham Springs, LA.
What is the asking price?
The asking price for this property is $534,000.
What are key features of this property?
This property features: Approximately 5,270 square feet in a C‑3 mixed‑use building; 2,192‑square‑foot restaurant with two dining areas, service bar, kitchen, restrooms, and storage; Four residential rental units totaling approximately 3,078 sq.ft.
