Cottage-Style Office
For Sale
$325,000
6444 JEFFERSON Highway, New Orleans, LA 70123
Office building with reception, five offices, a full kitchen, two bathrooms, and gated private rear parking.
Property Size1,339 SF
Price / SF$242.72
Days on Market460
Property Features for 6444 JEFFERSON Highway
General Information
Standard status
Active
Size
1,339 SF
Property subtype
General Commercial
Amenities
3
C-2
Rectangular
4500 SF
Rectangular.
Building Details
Year Built
1933
Listing Agency:
Watermark Realty, LLC
(504) 390-2218
Listed By:
Nina Cefalu · License #NOM
(504) 390-2218
Source:
Xome
Added: May 20, 2025
Changed: Aug 12
Last Checked: Aug 22 at 4:34AM
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 Watermark Realty, LLC
Investment Insights
Based on property information with market context.
This cottage-style office building is set up for professional service and administrative use, with a reception area, five offices, a full kitchen, and two bathrooms. The layout also includes a dedicated storage room for organizing supplies, files, or equipment.
The property is positioned directly across from City Hall and the Police District, creating a highly visible, civic-facing presence. Off-street parking is available in the rear, along with a gated private parking lot.
Overall, the interior configuration supports a multi-office arrangement with dedicated reception space, while the parking setup is designed to accommodate both staff and client visits.
The property is positioned directly across from City Hall and the Police District, creating a highly visible, civic-facing presence. Off-street parking is available in the rear, along with a gated private parking lot.
Overall, the interior configuration supports a multi-office arrangement with dedicated reception space, while the parking setup is designed to accommodate both staff and client visits.
Key Highlights
- Cottage‑style commercial office building built in 1933 in C‑2 zoning
- Reception area plus five offices for professional or administrative use
- Full kitchen and two bathrooms, including one full bath with a shower
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
$18,635
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
5.73%
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%
$372,700
$372.7K
Cap Rate 7%
$266,214
$266.2K
Cap Rate 9%
$207,056
$207.1K
Market Conditions
NOI Build-Up for 1,339 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
$29.4K $21.96/SF
− Vacancy
−$4.6K −$3.40/SF
EGI
$24.8K $18.56/SF
− OpEx
−$6.2K −$4.64/SF
NOI
$18.6K $13.92/SF
Area
ZIP 70123
Vacancy
15.50%
Lease Rate
$21.96 /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%
$372,700
Cap Rate 7%
$266,214
Cap Rate 9%
$207,056
Alternative Uses
Best Use
Office B
$266.2K
$232.9K – $310.6K
NOI $18,635 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.5K
$300.6K – $400.8K
NOI $24,045 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
719
Businesses Nearby
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
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?
Office building - Office building with reception, five offices, a full kitchen, two bathrooms, and gated private rear parking.
Where is this office building located?
The property is located at 6444 JEFFERSON Highway New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Cottage‑style commercial office building built in 1933 in C‑2 zoning; Reception area plus five offices for professional or administrative use; Full kitchen and two bathrooms, including one full bath with a shower
