Two-Unit Industrial
For Sale
$848,000
B-c-2601 Lexington Ave, Kenner, LA 70062
Separate tenant occupancy and dedicated roll-up doors support flexible industrial ownership or occupancy strategies.
Property Size9,000 SF
Lot Size0.28 Acres
Price / SF$94.22
Days on Market158
Property Features for B-c-2601 Lexington Ave
General Information
Standard status
Active
Size
9,000 SF
Lot size
0.28 Acres
Zoning
Special Industrial
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 644-4127
Listed By:
Matthew Grass · License #23286
(504) 237-3359
Source:
Exprealty
Added: Mar 30
Changed: Sep 2
Last Checked: Sep 1 at 10:45PM
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 The Agency of M. Grass Group, LLC
Investment Insights
Based on property information with market context.
This industrial warehouse property comprises approximately 9,000 SF across two separately leased units identified as B and C. Each unit has its own tenant and roll-up door, creating a defined two-unit configuration within the offering. The property is zoned Special Industrial, supporting its established industrial positioning.
The property is located at B-C-2601 Lexington Ave in Kenner, Louisiana, near I-10 and MSY. The conveyed portion occupies an approximately 100' x 120' lot. Existing leases, separate unit layouts, and direct highway and airport-area proximity provide a practical setup for investors or owner-occupants seeking industrial space.
The property is located at B-C-2601 Lexington Ave in Kenner, Louisiana, near I-10 and MSY. The conveyed portion occupies an approximately 100' x 120' lot. Existing leases, separate unit layouts, and direct highway and airport-area proximity provide a practical setup for investors or owner-occupants seeking industrial space.
Key Highlights
- Approximately 9,000 SF of industrial space
- Two separately leased units identified as B and C
- Each unit has its own tenant and roll‑up door
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
$70,135
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
8.27%
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%
$1,402,700
$1.4M
Cap Rate 7%
$1,001,929
$1.0M
Cap Rate 9%
$779,278
$779.3K
Market Conditions
NOI Build-Up for 9,000 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
$86.4K $9.60/SF
− Vacancy
−$3.9K −$0.43/SF
EGI
$82.5K $9.17/SF
− OpEx
−$12.4K −$1.38/SF
NOI
$70.1K $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%
$1,402,700
Cap Rate 7%
$1,001,929
Cap Rate 9%
$779,278
Alternative Uses
Best Use
Warehouse
$1.00M
$876.7K – $1.17M
NOI $70,135 @ 7.0% cap · market cap 8.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,212 @ 7.0% cap · market cap 19.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Kenner RV & Boat Storage — 2020 California Ave, Kenner, LA 70062
- Hold My Luggage — 1 Terminal Dr, Kenner, LA 70062
- Extra Space Storage — 2201 W Napoleon Ave, Kenner, LA 70062
- Self-Storage at U-Haul — 2828 Marietta St, Kenner, LA 70062
- ASI Management — 2200 Veterans Blvd # 208, Kenner, LA 70062
Frequently Asked Questions
What type of property is this?
Warehouse - Separate tenant occupancy and dedicated roll-up doors support flexible industrial ownership or occupancy strategies.
Where is this warehouse located?
The property is located at B-c-2601 Lexington Ave Kenner, LA.
What is the asking price?
The asking price for this property is $848,000.
What are key features of this property?
This property features: Approximately 9,000 SF of industrial space; Two separately leased units identified as B and C; Each unit has its own tenant and roll‑up door
