C-1 Mixed-Use
For Sale
$375,000
920 Lafayette St, Gretna, LA 70053
Two flexible sides offer kitchens, bathrooms, laundry rooms, and separate utilities.
Property Size1,988 SF
Price / SF$188.63
Days on Market24
Property Features for 920 Lafayette St
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Multi-Family
Zoning
C-1
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
full bathrooms
full kitchens
laundry rooms
soaring ceilings
abundant natural light
central HVAC systems
multiple exterior access points
rear parking lot
Building Details
Year Built
1920
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Suzanne Brown
Source:
Dominionplace
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 29 at 11:03PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this 1,988-square-foot shotgun-style double includes two independently configured sides. Each side contains a full kitchen, full bathroom, laundry room, and multiple exterior entrances, with separate utilities and central HVAC systems serving the property. High ceilings and strong natural light add to the existing character and functional flexibility.
The property is located at 920 Lafayette St in Gretna’s historic Old Gretna district and carries C-1 Neighborhood Commercial zoning. A rear parking lot connects directly to Lafayette Street and provides off-street parking. The surrounding area includes local shops, cafés, restaurants, and community events, with downtown Gretna and the Westbank Expressway nearby. The zoning supports retail goods and select services intended for the surrounding neighborhood.
The property is located at 920 Lafayette St in Gretna’s historic Old Gretna district and carries C-1 Neighborhood Commercial zoning. A rear parking lot connects directly to Lafayette Street and provides off-street parking. The surrounding area includes local shops, cafés, restaurants, and community events, with downtown Gretna and the Westbank Expressway nearby. The zoning supports retail goods and select services intended for the surrounding neighborhood.
Key Highlights
- C‑1 Neighborhood Commercial zoning at 920 Lafayette St, Gretna, LA 70053
- 1,988 square feet in a shotgun‑style double built in 1920
- Each side includes a full kitchen, full bathroom, and laundry room
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
$26,242
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
7.00%
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%
$524,840
$524.8K
Cap Rate 7%
$374,886
$374.9K
Cap Rate 9%
$291,578
$291.6K
Market Conditions
NOI Build-Up for 1,988 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
$47.7K $24.00/SF
− Vacancy
−$5.7K −$2.88/SF
EGI
$42.0K $21.12/SF
− OpEx
−$15.7K −$7.92/SF
NOI
$26.2K $13.20/SF
Area
Jefferson County, LA
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$524,840
Cap Rate 7%
$374,886
Cap Rate 9%
$291,578
Alternative Uses
Best Use
Mixed Use
$374.9K
$328.0K – $437.4K
NOI $26,242 @ 7.0% cap · market cap 7.00%
Second Best
Multifamily LT 5
$311.7K
$272.7K – $363.6K
NOI $21,817 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$524.5K
$458.9K – $611.9K
NOI $36,714 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,406
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?
Mixed-use property - Two flexible sides offer kitchens, bathrooms, laundry rooms, and separate utilities.
Where is this mixed-use property located?
The property is located at 920 Lafayette St Gretna, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: C‑1 Neighborhood Commercial zoning at 920 Lafayette St, Gretna, LA 70053; 1,988 square feet in a shotgun‑style double built in 1920; Each side includes a full kitchen, full bathroom, and laundry room
