Signalized-Corner Warehouse
For Sale
$644,950
1171 Annunciation St, New Orleans, LA 70130
HU-MU zoning permits retail, drive-through, bank, and mixed-use redevelopment options.
Property Size4,502 SF
Price / SF$143.26
Days on Market160
Property Features for 1171 Annunciation St
General Information
Standard status
Active
Size
4,502 SF
Property subtype
Industrial
Zoning
HU-MU
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
commercial, mixed-use
Building Details
Construction
red iron steel frame
Listing Agency:
Corporate Realty - Main Office
(504) 233-2108
Listed By:
Scott Graf · License #0995686372
(504) 233-2108
Source:
Lacdb.resimplifi
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 30 at 1:58PM
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.
This warehouse property at 1171 Annunciation St. occupies the signalized intersection of Annunciation Street and Calliope Street in New Orleans. The existing structure is a red iron steel frame building currently used for storage, with potential for adaptive reuse or ground-up redevelopment. Gas, water, and electricity are in place, and the property is in Flood Zone X with no environmental issues identified.
The site is adjacent to access for Highway 90 and I-10 and sits near the Warehouse/Arts District, Central Business District, Ernest N. Morial Convention Center, hotels, restaurants, museums, office towers, and nearby multi-unit residential communities. HU-MU zoning permits a range of uses, including retail, QSR or bank formats with drive-throughs, and mixed-use development. Ground lease and build-to-suit structures are available, while conceptual plans and renderings are included with the sale.
The site is adjacent to access for Highway 90 and I-10 and sits near the Warehouse/Arts District, Central Business District, Ernest N. Morial Convention Center, hotels, restaurants, museums, office towers, and nearby multi-unit residential communities. HU-MU zoning permits a range of uses, including retail, QSR or bank formats with drive-throughs, and mixed-use development. Ground lease and build-to-suit structures are available, while conceptual plans and renderings are included with the sale.
Key Highlights
- Signalized hard corner at 1171 Annunciation St. and Calliope Street
- HU‑MU zoning permits retail, drive‑through, bank, and mixed‑use uses
- Adjacent to entrance and exit access for Highway 90 and I‑10
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
$32,890
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
5.10%
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%
$657,800
$657.8K
Cap Rate 7%
$469,857
$469.9K
Cap Rate 9%
$365,444
$365.4K
Market Conditions
NOI Build-Up for 4,502 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
$40.5K $9.00/SF
− Vacancy
−$1.8K −$0.41/SF
EGI
$38.7K $8.59/SF
− OpEx
−$5.8K −$1.29/SF
NOI
$32.9K $7.31/SF
Area
New Orleans, LA
Vacancy
4.50%
Lease Rate
$9.00 /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%
$657,800
Cap Rate 7%
$469,857
Cap Rate 9%
$365,444
Alternative Uses
Best Use
Warehouse
$469.9K
$411.1K – $548.2K
NOI $32,890 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,098 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,119
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - HU-MU zoning permits retail, drive-through, bank, and mixed-use redevelopment options.
Where is this warehouse located?
The property is located at 1171 Annunciation St New Orleans, LA.
What is the asking price?
The asking price for this property is $644,950.
What are key features of this property?
This property features: Signalized hard corner at 1171 Annunciation St. and Calliope Street; HU‑MU zoning permits retail, drive‑through, bank, and mixed‑use uses; Adjacent to entrance and exit access for Highway 90 and I‑10
