Historical Gretna Home with
For Sale
$425,000
720 LAFAYETTE Street, Gretna, LA 70053
Commercial, Gretna, LA
Property Size1,308 SF
Price / SF$324.92
Days on Market190
Property Features for 720 LAFAYETTE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Parking features
Off Street
Lot features
Regular
Subdivision
Old Gretna
Standard status
Active
APN
14
Size
1,308 SF
Taxes and HOA fees
Tax Description
Lot 6 Square 14 Gretna
Legal Description
Lot 6 Square 14 Gretna
Utilities
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Trudy Dowell · License #44340
(504) 908-0049
Added: Feb 13
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# 2542967
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the historical section of Old Gretna, this property offers off-street parking for at least 3 vehicles. The historical home features wood floors, high ceilings, and colorful transoms over some of the doors, reflecting its charm and character. It includes yard space and is within earshot of the St. Joseph bells. The property, with a size of 1308 square feet, features a large laundry room and an eat-in kitchen. Previously used as an Air B&B, the semi shot-gun house layout allows for creative use of the rooms. The property is zoned C-1.
Key Highlights
- Located in the historical section of Old Gretna
- Off‑street parking for at least 3 vehicles
- Historical home with charm and character
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
$13,419
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
3.16%
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%
$268,380
$268.4K
Cap Rate 7%
$191,700
$191.7K
Cap Rate 9%
$149,100
$149.1K
Market Conditions
NOI Build-Up for 1,308 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
$26.8K $20.52/SF
− Vacancy
−$2.4K −$1.87/SF
EGI
$24.4K $18.65/SF
− OpEx
−$11.0K −$8.39/SF
NOI
$13.4K $10.26/SF
Area
Jefferson County, LA
Vacancy
9.10%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
45.00%
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%
$268,380
Cap Rate 7%
$191,700
Cap Rate 9%
$149,100
Alternative Uses
Best Use
Apartment 5plus
$191.7K
$167.7K – $223.7K
NOI $13,419 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$345.1K
$302.0K – $402.6K
NOI $24,156 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,975
Businesses Nearby
Explore this area
Business Placement
Demographics for 70053, LA
16,509
Population
7,865
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
4,856
Density / Sq Mi
$43,786
Median Household Income
$31,667
Median Earnings
$1,017
Median Rent
$225,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Charming historical home in Gretna's historical section with parking.
Where is this single family property located?
The property is located at 720 LAFAYETTE Street Gretna, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Located in the historical section of Old Gretna; Off‑street parking for at least 3 vehicles; Historical home with charm and character
