Mid City Warehouse and
3300 GRAVIER Street New Orleans, LA 70119
For Sale
$3,600,000
Historic office and warehouse property in Mid City.
Property Size32,527 SF
Lot Size1.50 Acres
Price / SF$110.68
Days on Market518
Property Features for 3300 GRAVIER Street
General Information
Standard status
Active
Size
32,527 SF
Lot size
1.50 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1924
Listing Agency:
Ben & Burka
(504) 301-1002
Listed By:
Aaron Kazanoff · License #995700882
(504) 301-1002
Source:
Exitrealty
Added: Feb 27, 2025
Changed: Jul 10
Last Checked: Jul 30 at 5:45AM
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 Ben & Burka
Investment Insights
Based on property information with market context.
This historic office and warehouse property, situated in an Opportunity Zone in the heart of Mid City, is available for sale. The property features over 30,000 square feet of improvements on nearly 1.5 acres of land. It is currently leased on a NNN basis to El Guapo Bitters, a manufacturer and distributor of alcohol-free cocktail bitters, syrups, and mixers. The property includes a full buildout with functional warehousing, storage, and distribution space, along with office space. The tenant's lease expires in October 2026, with a 5-year option to renew. Also included are 3 vacant lots across Gravier Street. The property is located a 7-minute drive from downtown New Orleans and is in close proximity to major transportation arteries I-10 and Jefferson Davis Parkway. The total property size is 32,527 square feet.
Key Highlights
- NNN leased property providing immediate income.
- Located in an Opportunity Zone.
- Over 30,000 SF of improvements on nearly 1.5 acres.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $324.0k | $9.96 |
| − Vacancy | −$16.2k | −$0.50 |
| EGI | $307.8k | $9.46 |
| − OpEx | −$46.2k | −$1.42 |
| NOI | $261.6k | $8.04 |
32,527 SF · lease $9.96/SF/yr · vacancy 5.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.74M
$3.27M – $4.36M
NOI $261,605 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.51M
$7.45M – $9.93M
NOI $595,791 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Extra Space Storage — 2321 Perdido St, New Orleans, LA 70119
- Public Storage — 4507 Washington Ave, New Orleans, LA 70125
- Earhart Commercial Storage, LLC — 4200 Euphrosine St, New Orleans, LA 70125
- Kid Gloves, Inc. — 601 S Galvez St, New Orleans, LA 70119
- Extra Space Storage — 1120 S Norman C Francis Parkway, New Orleans, LA 70125
Frequently Asked Questions
What type of property is this?
Warehouse - Historic office and warehouse property in Mid City.
Where is this warehouse located?
The property is located at 3300 GRAVIER Street New Orleans, LA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: NNN leased property providing immediate income.; Located in an Opportunity Zone.; Over 30,000 SF of improvements on nearly 1.5 acres.
