Industrial Land with Existing
For Sale
$249,000
9132 Chef Menteur Hwy, New Orleans, LA 70127
Business Industrial Park zoning supports a range of commercial and industrial uses.
Property Size2,555 SF
Price / SF$97.46
Days on Market222
Property Features for 9132 Chef Menteur Hwy
General Information
Standard status
Active
Size
2,555 SF
Property subtype
Industrial
Building Details
Year Built
1960
Listing Agency:
Pappalardo Consultants Inc
(504) 908-7443
Listed By:
Adrian Pappalardo · License #000072430
(504) 908-7443
Source:
Lacdb.resimplifi
Added: Jan 21
Changed: Aug 28
Last Checked: Aug 30 at 1:06PM
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 Pappalardo Consultants Inc
Investment Insights
Based on property information with market context.
This 16,500 SF industrial land parcel measures approximately 100 X 165 feet and includes concrete block improvements from 1960. The front structures total approximately 2,555 SF, while a rear covered area of approximately 5,800 SF previously accommodated coolers and storage. The existing improvements may be evaluated for salvage or removal based on the intended redevelopment plan.
The property fronts Chef Menteur Hwy with 100 feet of road frontage. Bundy Road intersects and terminates at Chef Menteur Hwy near the site. Business Industrial Park zoning is in place, and the property is adjacent to a substantially larger parcel that is also offered for sale.
The property fronts Chef Menteur Hwy with 100 feet of road frontage. Bundy Road intersects and terminates at Chef Menteur Hwy near the site. Business Industrial Park zoning is in place, and the property is adjacent to a substantially larger parcel that is also offered for sale.
Key Highlights
- 16,500 Sf industrial land parcel measuring 100 X 165
- 100 feet of road frontage on Chef Menteur Hwy
- Front concrete block buildings total approximately +/- 2,555 SF
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
$18,666
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
7.50%
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%
$373,320
$373.3K
Cap Rate 7%
$266,657
$266.7K
Cap Rate 9%
$207,400
$207.4K
Market Conditions
NOI Build-Up for 2,555 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
$23.0K $9.00/SF
− Vacancy
−$1.0K −$0.41/SF
EGI
$22.0K $8.59/SF
− OpEx
−$3.3K −$1.29/SF
NOI
$18.7K $7.31/SF
Area
New Orleans, LA
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$373,320
Cap Rate 7%
$266,657
Cap Rate 9%
$207,400
Alternative Uses
Best Use
Warehouse
$266.7K
$233.3K – $311.1K
NOI $18,666 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$649.4K
$568.2K – $757.6K
NOI $45,458 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 70127, LA
24,332
Population
10,719
Households
2.3
Avg Household Size
35
Median Age
25%
College-Educated
86%
High-School Grad
5.5 sq mi
ZIP Area
4,424
Density / Sq Mi
$41,548
Median Household Income
$30,817
Median Earnings
$1,060
Median Rent
$191,200
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?
Industrial land - Business Industrial Park zoning supports a range of commercial and industrial uses.
Where is this industrial land located?
The property is located at 9132 Chef Menteur Hwy New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 16,500 Sf industrial land parcel measuring 100 X 165; 100 feet of road frontage on Chef Menteur Hwy; Front concrete block buildings total approximately +/- 2,555 SF
