Office/Warehouse Near
For Sale
$300,000
1240 27th St, Kenner, LA 70062
3,000 SF office/warehouse with value-add potential, convenient location.
Property Size3,000 SF
Price / SF$100
Days on Market160
Property Features for 1240 27th St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Industrial
Building Details
Building Size
3,000 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(504) 352-3783
Listed By:
Adrien Foley · License #955716500
(504) 352-3783
Source:
Elifinrealty
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 31 at 3:52PM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
The property at 1240 27th St is a ±3,000 SF office/warehouse facility featuring concrete walls and value-add possibilities. It is suited for a variety of commercial operations needing office space or storage capabilities. The property is located near Louis Armstrong New Orleans International Airport and benefits from easy access to major routes, such as Veterans Blvd and I-10, ensuring convenience for logistics.
Key Highlights
- ±3,000 SF office/warehouse space
- Value‑add possibilities
- Concrete walls
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
$23,378
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
7.79%
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%
$467,560
$467.6K
Cap Rate 7%
$333,971
$334.0K
Cap Rate 9%
$259,756
$259.8K
Market Conditions
NOI Build-Up for 3,000 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
$28.8K $9.60/SF
− Vacancy
−$1.3K −$0.43/SF
EGI
$27.5K $9.17/SF
− OpEx
−$4.1K −$1.38/SF
NOI
$23.4K $7.79/SF
Area
Jefferson County, LA
Vacancy
4.50%
Lease Rate
$9.60 /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%
$467,560
Cap Rate 7%
$333,971
Cap Rate 9%
$259,756
Alternative Uses
Best Use
Office B
$594.6K
$520.3K – $693.7K
NOI $41,623 @ 7.0% cap · market cap 13.87%
Second Best
Warehouse
$334.0K
$292.2K – $389.6K
NOI $23,378 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$791.5K
$692.6K – $923.4K
NOI $55,404 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70062, LA
16,627
Population
6,679
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
7.1 sq mi
ZIP Area
2,342
Density / Sq Mi
$55,293
Median Household Income
$33,499
Median Earnings
$1,150
Median Rent
$197,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Everest Self Storage Facility — 450 31st St, Kenner, LA 70065
- Kenner Self Storage — 420 31st St, Kenner, LA 70065
Frequently Asked Questions
What type of property is this?
Warehouse - 3,000 SF office/warehouse with value-add potential, convenient location.
Where is this warehouse located?
The property is located at 1240 27th St Kenner, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: ±3,000 SF office/warehouse space; Value‑add possibilities; Concrete walls
