Commercial Building on South
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1230 S Broad St, New Orleans, LA 70125
9,487 SF commercial building on 21,120 SF lot.
Property Size9,487 SF
Lot Size0.48 Acres
Price / SF$219.77
Days on Market162
Property Features for 1230 S Broad St
General Information
Standard status
Active
Size
9,487 SF
Lot size
0.48 Acres
Property subtype
Mixed Use, Office, Retail
Zoning
C-1
Building Details
Buildings
1
Stories
1
Listing Agency:
The McEnery Company
Listed By:
Pat Browne · License #LA 0099563766
Source:
Crexi
Added: Mar 3
Changed: Aug 11
Last Checked: Aug 11 at 1:16PM
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 McEnery Company
Investment Insights
Based on property information with market context.
Located on South Broad Street, this commercial development presents an opportunity along one of New Orleans’ established commercial corridors. The one-story building, totaling approximately 9,487 square feet, is situated on a 21,120 square foot lot with frontage on South Broad Street. Zoned C-1 (General Commercial District), the site supports various retail and commercial uses and benefits from visibility and accessibility in a high-traffic location. Formerly a warehouse, the property has been transformed into a commercial building with office space, plus additional storage space. The yard space allows for ample parking and room for further expansion.
Key Highlights
- Prime location on South Broad Street, a well‑established commercial corridor in New Orleans.
- Large 21,120 sq ft lot with significant frontage on South Broad Street.
- Versatile C‑1 zoning allows for a wide variety of retail and commercial uses.
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
$139,840
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
6.71%
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%
$2,796,800
$2.8M
Cap Rate 7%
$1,997,714
$2.0M
Cap Rate 9%
$1,553,778
$1.6M
Market Conditions
NOI Build-Up for 9,487 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
$216.3K $22.80/SF
− Vacancy
−$29.8K −$3.15/SF
EGI
$186.5K $19.65/SF
− OpEx
−$46.6K −$4.91/SF
NOI
$139.8K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,796,800
Cap Rate 7%
$1,997,714
Cap Rate 9%
$1,553,778
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $139,840 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$1.83M
$1.60M – $2.13M
NOI $128,075 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,790 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,191
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
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?
Mixed-use property - 9,487 SF commercial building on 21,120 SF lot.
Where is this mixed-use property located?
The property is located at 1230 S Broad St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,085,000.
What are key features of this property?
This property features: Prime location on South Broad Street, a well‑established commercial corridor in New Orleans.; Large 21,120 sq ft lot with significant frontage on South Broad Street.; Versatile C‑1 zoning allows for a wide variety of retail and commercial uses.
