St. Charles Avenue Redevelopment
For Sale
Contact for pricing
1055 St Charles Ave, New Orleans, LA
Prime 2.2-acre site with redevelopment potential in vibrant New Orleans.
Property Size69,569 SF
Lot Size2.20 Acres
Price / SF$150.93
Days on Market297
Property Features for 1055 St Charles Ave
General Information
Standard status
Active
Size
69,569 SF
Lot size
2.20 Acres
Property subtype
OFFICE
Listing Agency:
Corporate Realty - Main Office
(504) 432-1232
Listed By:
Austin Lavin, CCIM · License #SALE.0995683576-ACT
(504) 432-1232
Source:
Moodyscre
Added: Oct 30, 2025
Changed: Aug 9
Last Checked: Aug 21 at 10:49AM
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 Corporate Realty - Main Office
Investment Insights
Based on property information with market context.
Located on St. Charles Avenue in New Orleans, this 2.2-acre property presents a redevelopment opportunity. The site includes a 7-story office building with 70,446 rentable square feet. Situated within the CBD-3 Cultural Arts District, the zoning supports a mix of uses, including residential, hotel, retail, and restaurant options. A surface parking lot offers additional development possibilities. The existing office building is currently operating with a healthy occupancy rate, leased at Class A office rates. The location offers exceptional visibility, with approximately 112,000 vehicles per day on St. Charles Avenue. Proximity to the Pontchartrain Expressway and Carondelet Street further enhances its exposure. During Mardi Gras, the area experiences significant foot traffic, with well over 100,000 people on peak days. The existing office structure and expansive parking lot offer significant redevelopment potential for a mixed-use project. The property is located within an Opportunity Zone, offering potential tax incentives. It has also been designated a historic landmark and is eligible for federal and state historic tax credits, potentially covering up to 45% of renovation costs. The property is near cultural landmarks such as The National WWII Museum and The Contemporary Arts Center, as well as educational institutions like Tulane University and Loyola University.
Key Highlights
- Prime location on St. Charles Avenue in the CBD‑3 Cultural Arts District, offering high visibility (±12,000 VPD) and unparalleled exposure during Mardi Gras (100,000+ foot traffic).
- Significant redevelopment potential for a mixed‑use project including residential, hotel, retail, and amenities.
- Located within an Opportunity Zone, providing substantial tax incentives.
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
$939,182
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
8.94%
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%
$18,783,640
$18.8M
Cap Rate 7%
$13,416,886
$13.4M
Cap Rate 9%
$10,435,356
$10.4M
Market Conditions
NOI Build-Up for 69,569 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
$1.67M $24.00/SF
− Vacancy
−$167.0K −$2.40/SF
EGI
$1.50M $21.60/SF
− OpEx
−$563.5K −$8.10/SF
NOI
$939.2K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
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%
$18,783,640
Cap Rate 7%
$13,416,886
Cap Rate 9%
$10,435,356
Alternative Uses
Best Use
Office B
$14.65M
$12.82M – $17.09M
NOI $1,025,461 @ 7.0% cap · market cap 9.77%
Second Best
Mixed Use
$13.42M
$11.74M – $15.65M
NOI $939,182 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$17.68M
$15.47M – $20.63M
NOI $1,237,749 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,697
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Prime 2.2-acre site with redevelopment potential in vibrant New Orleans.
Where is this office building located?
The property is located at 1055 St Charles Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Prime location on St. Charles Avenue in the CBD‑3 Cultural Arts District, offering high visibility (±12,000 VPD) and unparalleled exposure during Mardi Gras (100,000+ foot traffic).; Significant redevelopment potential for a mixed‑use project including residential, hotel, retail, and amenities.; Located within an Opportunity Zone, providing substantial tax incentives.
