Flex Warehouse with Office
For Sale
$900,000
1857 Agriculture St, New Orleans, LA 70119
Versatile multi-building property with office and showroom space plus industrial areas and parking for expansion potential.
Property Size7,950 SF
Days on Market92
Property Features for 1857 Agriculture St
General Information
Standard status
Active
Size
7,950 SF
Property subtype
Industrial
Zoning
MU-1
Building Details
Building Size
7,950 SF
Listing Agency:
Elifin Realty - New Orleans, LA
(504) 352-3783
Listed By:
Adrien Foley · License #955716500
(504) 352-3783
Source:
Elifinrealty
Added: Jun 2
Changed: Aug 16
Last Checked: Aug 31 at 3:38PM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
Now available for sale, 1857 Agriculture St is a versatile commercial property made up of multiple buildings totaling approximately 7,950 SF. The configuration includes spaces for office and showroom use alongside industrial areas, providing flexibility for a range of business operations under one ownership.
The property offers a large parking lot that may support added capacity, expansion, or additional development in the future. It also benefits from frontage along Agriculture St and Florida Ave, helping define convenient public access for customers, staff, and deliveries.
Zoned MU-1, this facility may be a practical fit for owners and tenants seeking a combination of front-of-house presentation and functional back-of-house space. The mix of office, showroom, and industrial components can support businesses that need customer-facing space while maintaining operational space for light industrial use, all with on-site parking capacity for day-to-day activity.
The property offers a large parking lot that may support added capacity, expansion, or additional development in the future. It also benefits from frontage along Agriculture St and Florida Ave, helping define convenient public access for customers, staff, and deliveries.
Zoned MU-1, this facility may be a practical fit for owners and tenants seeking a combination of front-of-house presentation and functional back-of-house space. The mix of office, showroom, and industrial components can support businesses that need customer-facing space while maintaining operational space for light industrial use, all with on-site parking capacity for day-to-day activity.
Key Highlights
- 1857 Agriculture St is a multi‑building commercial property with approximately 7,950 SF total.
- Includes office, showroom, and industrial space across the buildings.
- Large parking lot on‑site, with room for possible expansion or additional development.
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
$63,939
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
7.10%
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%
$1,278,780
$1.3M
Cap Rate 7%
$913,414
$913.4K
Cap Rate 9%
$710,433
$710.4K
Market Conditions
NOI Build-Up for 7,950 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
$79.2K $9.96/SF
− Vacancy
−$4.0K −$0.50/SF
EGI
$75.2K $9.46/SF
− OpEx
−$11.3K −$1.42/SF
NOI
$63.9K $8.04/SF
Area
ZIP 70119
Vacancy
5.00%
Lease Rate
$9.96 /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%
$1,278,780
Cap Rate 7%
$913,414
Cap Rate 9%
$710,433
Alternative Uses
Best Use
Warehouse
$913.4K
$799.2K – $1.07M
NOI $63,939 @ 7.0% cap · market cap 7.10%
Second Best
Flex RnD
$832.7K
$728.6K – $971.5K
NOI $58,289 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,619 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile multi-building property with office and showroom space plus industrial areas and parking for expansion potential.
Where is this flex space located?
The property is located at 1857 Agriculture St New Orleans, LA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 1857 Agriculture St is a multi‑building commercial property with approximately 7,950 SF total.; Includes office, showroom, and industrial space across the buildings.; Large parking lot on‑site, with room for possible expansion or additional development.
