Building Details

Year Built 1970

Buildings 1

Stories 1

Listing Agency: Paul Gilmore & Associates

Listed By: Kathy Tolliver · License #05755 Show Phone

Source: Crexi

Added: May 5, 2023 Changed: Oct 3 Last Checked: Oct 19 at 5:55AM

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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 Paul Gilmore & Associates

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Investment Insights

Based on property information with market context.

This commercial property is located on Downman Road. The one-story building, formerly a Papa John's Pizza restaurant, offers possibilities for retail or restaurant use. It is zoned C-1. The location benefits from a traffic count of approximately 17,000 cars per day. The property has a size of 1,320 square feet.

Key Highlights

• High traffic count (approx. 17,000 cars per day)
• C‑1 zoning (suitable for retail or restaurant)
• Former Papa John's Pizza restaurant with existing restaurant infrastructure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,863

Cap Rate

8.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$417,260 $417.3K

Cap Rate 7%

$298,043 $298.0K

Cap Rate 9%

$231,811 $231.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,320 SF

Gross rent

$30.4K $23.04/SF

− Vacancy

−$608 −$0.46/SF

EGI

$29.8K $22.58/SF

− OpEx

−$8.9K −$6.77/SF

NOI

$20.9K $15.81/SF

Area

ZIP 70126

Vacancy

2.00%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$417,260

Cap Rate 7%

$298,043

Cap Rate 9%

$231,811

Alternative Uses

Best Use

Specialty Retail

$322.7K

$282.3K – $376.5K (±1% cap)

NOI $22,587 @ 7.0% cap · market cap 9.41%

Second Best

Retail

$298.0K

$260.8K – $347.7K (±1% cap)

NOI $20,863 @ 7.0% cap · market cap 8.69%

Theoretical Best

Office A

$346.2K

$302.9K – $403.9K (±1% cap)

NOI $24,235 @ 7.0% cap · market cap 10.10%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Restaurants

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Building Supply Dental Office Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

385

Businesses Nearby

2k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

U-Haul Neighborhood Dealer Shops & Services

1,127 visits/mo 0.1 miles

The UPS Store Shops & Services

1,116 visits/mo 0.1 miles

Demographics for 70126, LA

30,397

Population

12,686

Households

2.4

Avg Household Size

33

Median Age

24%

College-Educated

87%

High-School Grad

12.1 sq mi

ZIP Area

2,512

Density / Sq Mi

$38,229

Median Household Income

$29,510

Median Earnings

$1,118

Median Rent

$187,300

Median Home Value

Market

Vacancy Rate% for Retail in New Orleans, LA

5.5% 2019

7.2% 2020

5.7% 2021

4.3% 2022

3.6% 2023

3.9% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Restaurant - Former Papa John's restaurant with retail or restaurant potential.

Where is this restaurant located?

The property is located at 7100 Downman Rd New Orleans, LA.

What is the asking price?

The asking price for this property is $240,000.

What are key features of this property?

This property features: High traffic count (approx. 17,000 cars per day); C‑1 zoning (suitable for retail or restaurant); Former Papa John's Pizza restaurant with existing restaurant infrastructure