St. Charles Avenue Redevelopment
1055 St Charles Ave, New Orleans, LA
Call to check price and availability
Prime 2.2-acre site with redevelopment potential in vibrant New Orleans.
Type:OFFICE
Property size:
69,569 SFLot size:
2.20 AcresPrice / SF:
$164/SF- Added:
- Oct 30, 2025
- Days on Market:
- 206
- Last Refresh:
- Apr 5 at 10:21 pm
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 agent Austin Lavin, CCIM License #995683576 (504) 432-1232
Listing office Corporate Realty - Main Office (504) 432-1232
Listing date Oct 30, 2025
Source Moodyscre
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
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.
- Designated a historic landmark, eligible for federal and state historic tax credits covering up to 45% of renovation costs.
- Existing 7‑story office building (70,446 RSF) with a healthy occupancy rate and Class A office rates, providing immediate income potential.
- Proximity to key cultural landmarks and major universities, enhancing appeal and driving demand.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$11.39M
NOI $1,025,461 @ 9.00% cap · cautious / downside scenario
Moderate
$14.65M
NOI $1,025,461 @ 7.00% cap · market / base-case scenario
Aggressive
$20.51M
NOI $1,025,461 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.59M | $22.80 |
| − Vacancy | −$218.9k | −$3.15 |
| EGI | $1.37M | $19.65 |
| − OpEx | −$341.8k | −$4.91 |
| NOI | $1.03M | $14.74 |
69,569 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$14.65M
$12.82M – $17.09M
NOI $1,025,461 @ 7.0% cap · market cap 8.96%
Second Best
Mixed Use
$13.42M
$11.74M – $15.65M
NOI $939,182 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$17.68M
$15.47M – $20.63M
NOI $1,237,749 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.077
- Latitude
- 29.9585
Nearby Similar for Sale
FAQs
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 $11,440,000.
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.
