Corner Flex Building with
For Sale
$700,000
601 W Judge Perez Dr, Chalmette, LA 70043
Multi-level commercial space combines retail, offices, storage areas, and a rear warehouse on a corner site.
Property Size9,000 SF
Price / SF$77.78
Days on Market129
Property Features for 601 W Judge Perez Dr
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Retail
Zoning
C-1
Additional Details
Corner Location
Yes
Building Details
Year Built
1984
Listing Agency:
Re/Max Select
(985) 285-3600
Listed By:
Felix Forjet · License #995698989
(985) 285-3600
Source:
Lacdb.resimplifi
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 10:49AM
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 Select
Investment Insights
Based on property information with market context.
This 9,000-square-foot flex property is a multi-level commercial building with retail space at ground level and offices on the floor above. Additional interior rooms provide adaptable areas for office, storage, or operational needs, while a warehouse component occupies the rear of the building. Constructed in 1984, the property offers a configuration that can accommodate multiple business functions within one facility.
The building occupies a corner lot at 601 W Judge Perez Dr in Chalmette, with on-site parking, street exposure, and convenient access. C-1 zoning applies to the property. The combination of public-facing space, upper-level offices, support rooms, and rear warehouse area creates a varied commercial layout for an owner-user or multi-section occupancy strategy.
The building occupies a corner lot at 601 W Judge Perez Dr in Chalmette, with on-site parking, street exposure, and convenient access. C-1 zoning applies to the property. The combination of public-facing space, upper-level offices, support rooms, and rear warehouse area creates a varied commercial layout for an owner-user or multi-section occupancy strategy.
Key Highlights
- 9,000‑square‑foot commercial building
- Ground‑floor retail with upper‑level office space
- Rear warehouse area included
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
$53,865
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
7.70%
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%
$1,077,300
$1.1M
Cap Rate 7%
$769,500
$769.5K
Cap Rate 9%
$598,500
$598.5K
Market Conditions
NOI Build-Up for 9,000 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
$81.0K $9.00/SF
− Vacancy
−$4.1K −$0.45/SF
EGI
$77.0K $8.55/SF
− OpEx
−$23.1K −$2.56/SF
NOI
$53.9K $5.98/SF
Area
St. Bernard County, LA
Vacancy
5.00%
Lease Rate
$9.00 /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%
$1,077,300
Cap Rate 7%
$769,500
Cap Rate 9%
$598,500
Alternative Uses
Best Use
Retail
$2.03M
$1.78M – $2.37M
NOI $142,249 @ 7.0% cap · market cap 20.32%
Second Best
Office B
$1.78M
$1.56M – $2.08M
NOI $124,870 @ 7.0% cap · market cap 17.84%
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,212 @ 7.0% cap · market cap 23.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Multi-level commercial space combines retail, offices, storage areas, and a rear warehouse on a corner site.
Where is this flex space located?
The property is located at 601 W Judge Perez Dr Chalmette, LA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 9,000‑square‑foot commercial building; Ground‑floor retail with upper‑level office space; Rear warehouse area included
