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Listing Agency: SRSA Commercial Real Estate

Listed By: Michael Corchiani Show Phone

Source: Lacdb.resimplifi

Added: May 4 Changed: Oct 6 Last Checked: Oct 14 at 7:50PM

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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 SRSA Commercial Real Estate

Investment Insights

Based on property information with market context.

This Flex space property combines a showroom, multiple private offices, and a non-climate-controlled warehouse within an approximately 10,875-square-foot building. The warehouse provides approximately +/-20-foot eave heights and three roll-up doors measuring approximately 14 feet by 14 feet. The site also includes approximately 6,900 square feet of covered storage yard space for equipment, inventory, or outdoor operations.

The property occupies approximately 1.01 acres and is zoned IL, or Light Industrial. An adjacent undeveloped lot measuring approximately 55 feet by 225 feet adds land for potential expansion, parking, storage, or future development. The property is located at 5960 Mounes St in Harahan, Louisiana. Cranes on the property are excluded from the sale.

Key Highlights

• Approximately 10,875 SF building with showroom, private offices, and non‑climate‑controlled warehouse
• Approximately 1.01‑acre site zoned IL, or Light Industrial
• Warehouse features approximately +/-20‑foot eave heights

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$151,349

Cap Rate

8.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,026,980 $3.0M

Cap Rate 7%

$2,162,129 $2.2M

Cap Rate 9%

$1,681,656 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,875 SF

Gross rent

$238.8K $21.96/SF

− Vacancy

−$37.0K −$3.40/SF

EGI

$201.8K $18.56/SF

− OpEx

−$50.4K −$4.64/SF

NOI

$151.3K $13.92/SF

Area

ZIP 70123

Vacancy

15.50%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,026,980

Cap Rate 7%

$2,162,129

Cap Rate 9%

$1,681,656

Alternative Uses

Best Use

Office B

$2.16M

$1.89M – $2.52M (±1% cap)

NOI $151,349 @ 7.0% cap · market cap 8.29%

Second Best

Flex RnD

$1.71M

$1.50M – $1.99M (±1% cap)

NOI $119,603 @ 7.0% cap · market cap 6.55%

Theoretical Best

Office A

$2.79M

$2.44M – $3.25M (±1% cap)

NOI $195,284 @ 7.0% cap · market cap 10.70%

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

Property Analytics

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Current Use

Crescent City Countertops Kitchen & Bath Showroom

Suggested Use

Top Pick Real Estate Agency Dental Office Hair Salon Law Firm Parking Lot & Garage Grocery & Convenience Store

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

Location Intelligence

Trade Area within ½ mile

1,089

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

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 - Light Industrial zoning supports a combined showroom, office, and warehouse layout with covered exterior storage.

Where is this flex space located?

The property is located at 5960 Mounes St Elmwood, LA.

What is the asking price?

The asking price for this property is $1,825,000.

What are key features of this property?

This property features: Approximately 10,875 SF building with showroom, private offices, and non‑climate‑controlled warehouse; Approximately 1.01‑acre site zoned IL, or Light Industrial; Warehouse features approximately +/-20‑foot eave heights