Belle Chasse Industrial Multi-Building
For Sale
Contact for pricing
9203 LA-23, Belle Chasse, LA 70037
4.68-acre industrial property with six buildings for diverse commercial needs.
Property Size81,009 SF
Lot Size4.68 Acres
Price / SF$72.83
Days on Market807
Property Features for 9203 LA-23
General Information
Standard status
Active
Size
81,009 SF
Lot size
4.68 Acres
Property subtype
Industrial
Zoning
C2
Building Details
Tenancy
Single
Listing Agency:
Southeast Commercial Real Estate
Listed By:
Matt Eaton · License #LA 0000072493
(504) 339-2136
Source:
Crexi
Added: Jun 27, 2024
Changed: Sep 7
Last Checked: Sep 11 at 4:49AM
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 Southeast Commercial Real Estate
Investment Insights
Based on property information with market context.
This property, situated on approximately 4.68 acres across multiple parcels, includes six buildings suitable for various industrial and commercial purposes. Building #1 is located on a 64,105 sq.ft. lot and features a main warehouse measuring approximately 150’ X 40’ (+/- 6,000 sq.ft.) and a smaller warehouse of about 34’ X 40’ (1,360 sq.ft.). Building #2, constructed in 2011/2012, is a 20,880 sq.ft. dock high warehouse with 43’ eaves and a heavy floor load capacity. It is equipped with a high expansive foam suppression system capable of filling the entire building in 7 minutes, originally designed for storing flammable paint products. A breezeway connects Building #2 to Building #3, a two-story manufacturing warehouse with office and lab space, totaling approximately 26,500 sq.ft. This warehouse also features a heavy floor load capacity on each level and a similar foam suppression system, though it does not fill the entire building from top to bottom. Building #4 is a 2,400 sq.ft. general office building with individual offices and large meeting rooms. Buildings #5 and #6 are connected warehouses used for raw material storage, totaling approximately 23,869 sq.ft. with 20’ eave heights. Building 1, on Lot 17, is available for separate purchase.
Key Highlights
- Large Acreage: Approximately 4.68 acres across multiple parcels.
- Dock High Warehouse: Building #2 is a 20,880 sq.ft. dock high warehouse with 43’ eaves and heavy floor load capacity.
- Advanced Fire Suppression: Buildings #2 and #3 feature high expansive foam suppression systems.
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
$484,839
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
8.22%
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%
$9,696,780
$9.7M
Cap Rate 7%
$6,926,271
$6.9M
Cap Rate 9%
$5,387,100
$5.4M
Market Conditions
NOI Build-Up for 81,009 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
$729.1K $9.00/SF
− Vacancy
−$36.5K −$0.45/SF
EGI
$692.6K $8.55/SF
− OpEx
−$207.8K −$2.56/SF
NOI
$484.8K $5.98/SF
Area
Plaquemines 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%
$9,696,780
Cap Rate 7%
$6,926,271
Cap Rate 9%
$5,387,100
Alternative Uses
Best Use
Warehouse
$9.31M
$8.14M – $10.86M
NOI $651,531 @ 7.0% cap · market cap 11.04%
Second Best
Industrial
$6.93M
$6.06M – $8.08M
NOI $484,839 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$21.37M
$18.70M – $24.93M
NOI $1,496,074 @ 7.0% cap · market cap 25.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 70037, LA
16,262
Population
6,682
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
91%
High-School Grad
49.9 sq mi
ZIP Area
326
Density / Sq Mi
$92,193
Median Household Income
$45,608
Median Earnings
$1,650
Median Rent
$350,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 4.68-acre industrial property with six buildings for diverse commercial needs.
Where is this manufacturing property located?
The property is located at 9203 LA-23 Belle Chasse, LA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Large Acreage: Approximately 4.68 acres across multiple parcels.; Dock High Warehouse: Building #2 is a 20,880 sq.ft. dock high warehouse with 43’ eaves and heavy floor load capacity.; Advanced Fire Suppression: Buildings #2 and #3 feature high expansive foam suppression systems.
