Mixed-Use Property with
For Sale
$575,000
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$109.11
Days on Market396
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
(225) 954-4747
Listed By:
Doug Ferris
(225) 954-4747
Source:
Lacdb.resimplifi
Added: Aug 1, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:10PM
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 = 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
$49,327
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
8.58%
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%
$986,540
$986.5K
Cap Rate 7%
$704,671
$704.7K
Cap Rate 9%
$548,078
$548.1K
Market Conditions
NOI Build-Up for 5,270 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
$82.2K $15.60/SF
− Vacancy
−$3.3K −$0.62/SF
EGI
$78.9K $14.98/SF
− OpEx
−$29.6K −$5.62/SF
NOI
$49.3K $9.36/SF
Area
Livingston County, LA
Vacancy
4.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$986,540
Cap Rate 7%
$704,671
Cap Rate 9%
$548,078
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,348 @ 7.0% cap · market cap 15.36%
Second Best
Multifamily LT 5
$777.2K
$680.1K – $906.8K
NOI $54,405 @ 7.0% cap · market cap 9.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 $575,000.
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.
