Fully Built-Out Corner Medical
For Sale
$599,000
3500 Kabel Dr, New Orleans, LA 70131
Corner medical office with a private gated parking lot and a layout designed for urgent care or similar medical use.
Property Size2,540 SF
Price / SF$235.83
Days on Market41
Property Features for 3500 Kabel Dr
General Information
Standard status
Active
Size
2,540 SF
Class
B
Property subtype
Office
Zoning
MU-2
Building Details
Building Size
2,540 SF
Listed By:
Frank Lopiccolo
(504) 519-7693
Source:
Elifinrealty
Added: Jul 29
Changed: Aug 31
Last Checked: Sep 7 at 6:24AM
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 Frank Lopiccolo
Investment Insights
Based on property information with market context.
3500 Kabel Dr is a fully built-out corner medical office offering 2,540 SF. The interior features a lobby/reception area, four triage rooms, a small lab room, a storage room, two private offices, two restrooms, and a breakroom. The layout was designed for easy adaptation for an urgent care operator or other medical users.
Outside, the building includes a private gated parking lot and is elevated three feet above curb level. The property is located just off General De Gaulle Dr, providing convenient access to the Crescent City Connection in 15 minutes. Zoning is MU-2, the High Intensity Mixed-Use District.
This property’s medical-specific configuration and secure parking make it well suited for healthcare tenants seeking an established plan with ready-to-use exam and support spaces.
Outside, the building includes a private gated parking lot and is elevated three feet above curb level. The property is located just off General De Gaulle Dr, providing convenient access to the Crescent City Connection in 15 minutes. Zoning is MU-2, the High Intensity Mixed-Use District.
This property’s medical-specific configuration and secure parking make it well suited for healthcare tenants seeking an established plan with ready-to-use exam and support spaces.
Key Highlights
- 2,540 SF fully built‑out corner medical office
- Private gated parking lot plus elevation three feet above curb level
- Four triage rooms and small lab room
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
$37,440
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
6.25%
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%
$748,800
$748.8K
Cap Rate 7%
$534,857
$534.9K
Cap Rate 9%
$416,000
$416.0K
Market Conditions
NOI Build-Up for 2,540 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
$57.9K $22.80/SF
− Vacancy
−$8.0K −$3.15/SF
EGI
$49.9K $19.65/SF
− OpEx
−$12.5K −$4.91/SF
NOI
$37.4K $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%
$748,800
Cap Rate 7%
$534,857
Cap Rate 9%
$416,000
Alternative Uses
Best Use
Office B
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 6.25%
Second Best
Healthcare Medical
$528.8K
$462.7K – $616.9K
NOI $37,015 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$645.6K
$564.9K – $753.2K
NOI $45,191 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 70131, LA
27,473
Population
12,070
Households
2.3
Avg Household Size
38
Median Age
36%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
2,348
Density / Sq Mi
$64,294
Median Household Income
$45,347
Median Earnings
$1,057
Median Rent
$236,200
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?
Medical Office Space - Corner medical office with a private gated parking lot and a layout designed for urgent care or similar medical use.
Where is this medical office space located?
The property is located at 3500 Kabel Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,540 SF fully built‑out corner medical office; Private gated parking lot plus elevation three feet above curb level; Four triage rooms and small lab room
