Historic Storefront
For Sale
$780,000
71667 Leveson Street, Abita Springs, LA 70420
Downtown commercial space with preserved architectural details, updated mechanical systems, and flexible retail or office use potential.
Property Size3,206 SF
Price / SF$243.29
Days on Market160
Property Features for 71667 Leveson Street
General Information
Standard status
Active
Size
3,206 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
ComRes
Building Details
Building Size
3,206 SF
Year Built
1975
Stories
1
Listing Agency:
Crescent Sotheby's Intl Realty
(985) 264-6222
Listed By:
Lovelle Blitch · License #912123333
(985) 264-6222
Source:
Nolalivingrealty
Added: Mar 5
Changed: Aug 9
Last Checked: Aug 11 at 2:42PM
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 Crescent Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
This storefront property in downtown Abita Springs occupies approximately 3,206 square feet within the town’s historic district. Interior features include original heart pine flooring, 12-foot ceilings, and other period architectural elements. A roof replacement completed in November 2024 and updated mechanical systems provide current building improvements. The layout is positioned for retail, office, café, or residential adaptation, subject to applicable requirements.
The property sits on an oversized lot with parking for 10 vehicles and additional city parking across Leveson Street. Site area also provides room for possible expansion or outdoor elements such as courtyards, green space, or seating. Its setting in walkable downtown Abita Springs places the building among shops, dining, and community-oriented activity.
The property sits on an oversized lot with parking for 10 vehicles and additional city parking across Leveson Street. Site area also provides room for possible expansion or outdoor elements such as courtyards, green space, or seating. Its setting in walkable downtown Abita Springs places the building among shops, dining, and community-oriented activity.
Key Highlights
- Approximately 3,206 SF in downtown Abita Springs
- Original heart pine flooring and 12‑foot ceilings
- Roof replaced in November 2024
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
$36,379
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
4.66%
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%
$727,580
$727.6K
Cap Rate 7%
$519,700
$519.7K
Cap Rate 9%
$404,211
$404.2K
Market Conditions
NOI Build-Up for 3,206 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
$62.7K $19.56/SF
− Vacancy
−$14.2K −$4.43/SF
EGI
$48.5K $15.13/SF
− OpEx
−$12.1K −$3.78/SF
NOI
$36.4K $11.35/SF
Area
St. Tammany County, LA
Vacancy
22.65%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
25.00%
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%
$727,580
Cap Rate 7%
$519,700
Cap Rate 9%
$404,211
Alternative Uses
Best Use
Office B
$519.7K
$454.7K – $606.3K
NOI $36,379 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$459.3K
$401.9K – $535.8K
NOI $32,148 @ 7.0% cap · market cap 4.12%
Theoretical Best
Multifamily LT 5
$34.56M
$30.24M – $40.32M
NOI $2,419,273 @ 7.0% cap · market cap 310.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70420, LA
8,030
Population
3,027
Households
2.7
Avg Household Size
43
Median Age
35%
College-Educated
96%
High-School Grad
63.8 sq mi
ZIP Area
126
Density / Sq Mi
$72,180
Median Household Income
$44,204
Median Earnings
$1,141
Median Rent
$278,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial space with preserved architectural details, updated mechanical systems, and flexible retail or office use potential.
Where is this storefront property located?
The property is located at 71667 Leveson Street Abita Springs, LA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Approximately 3,206 SF in downtown Abita Springs; Original heart pine flooring and 12‑foot ceilings; Roof replaced in November 2024
