Mid-City Office
124 S Clark St, New Orleans, LA 70119
For Sale
Contact for pricing
1,872 sq ft office space in vibrant Mid-City.
Property Size1,872 SF
Lot Size0.07 Acres
Price / SF$213.68
Days on Market866
Property Features for 124 S Clark St
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Lease Type
Site & Location
Neighborhood
Building Details
Buildings
Stories
Tenancy
Listing Agency:
Southeast Commercial Real Estate
Listed By:
Matt Eaton · License LA #0000072493
(504) 339-2136
Source:
Crexi
Added: Jul 2, 2024
Changed: Oct 26
Last Checked: Nov 12 at 7:39AM
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 Southeast Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,872 sq ft property, situated on a 3,024 sq ft lot, is located in the Mid-City area of New Orleans. Zoned HU-MU, the property is suitable for office use and various other commercial applications. The property can be purchased individually or as part of a four-building package including properties on Canal Street and S. Clark Street. This property offers a blend of residential charm and commercial potential, suitable for businesses seeking a functional space.
Key Highlights
- Prime location in the vibrant Mid‑City area of New Orleans.
- Zoned HU‑MU, offering flexibility for various commercial applications.
- Opportunity for office use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,799
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 1,872 SF
Gross rent
$44.9K $24.00/SF
− Vacancy
−$7.9K −$4.20/SF
EGI
$37.1K $19.80/SF
− OpEx
−$9.3K −$4.95/SF
NOI
$27.8K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.8K
$428.6K – $571.5K
NOI $34,289 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
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Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in New Orleans, LA
Properties on Market for Office Units in New Orleans
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office unit - 1,872 sq ft office space in vibrant Mid-City.
Where is this office unit located?
The property is located at 124 S Clark St New Orleans, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime location in the vibrant Mid‑City area of New Orleans.; Zoned HU‑MU, offering flexibility for various commercial applications.; Opportunity for office use.
