Building Details

Buildings 2

Listing Agency: Talbot Realty Group

Listed By: Robert Talbot · License #000006978 Show Phone

Source: Lacdb.resimplifi

Added: Dec 4, 2024 Changed: Oct 3 Last Checked: Oct 14 at 7:36PM

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Investment Insights

Based on property information with market context.

This 4,916 SF warehouse building includes a dock-high loading area, artist storage and workspace, two bathrooms, and a separate outside storage building with an additional bathroom. The building is not climate-controlled and is secured within a fenced 10,418 SF lot. A TPO roof was installed in 2022, while electrical infrastructure includes 600 amp service and three electric meters.

The property is located at 1020 Erato St in New Orleans and carries HU-MU zoning. Neighboring businesses include French Truck Coffee, Barrel Proof, Merchant House, and St. Pizza.

Key Highlights

• 4,916 SF dock‑high warehouse building
• 10,418 SF fenced lot
• 600 amp electrical service with 3 electric meters

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,608

Cap Rate

4.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$932,160 $932.2K

Cap Rate 7%

$665,829 $665.8K

Cap Rate 9%

$517,867 $517.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,916 SF

Gross rent

$76.7K $15.60/SF

− Vacancy

−$5.0K −$1.01/SF

EGI

$71.7K $14.59/SF

− OpEx

−$25.1K −$5.11/SF

NOI

$46.6K $9.48/SF

Area

New Orleans, LA

Vacancy

6.50%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$932,160

Cap Rate 7%

$665,829

Cap Rate 9%

$517,867

Alternative Uses

Best Use

Flex RnD

$665.8K

$582.6K – $776.8K (±1% cap)

NOI $46,608 @ 7.0% cap · market cap 4.68%

Second Best

Warehouse

$513.1K

$448.9K – $598.6K (±1% cap)

NOI $35,915 @ 7.0% cap · market cap 3.61%

Theoretical Best

Office A

$1.25M

$1.09M – $1.46M (±1% cap)

NOI $87,464 @ 7.0% cap · market cap 8.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith HVAC Service Pet Grooming Service Butcher Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

3,585

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 70130, LA

14,521

Population

10,927

Households

1.3

Avg Household Size

38

Median Age

64%

College-Educated

92%

High-School Grad

2.1 sq mi

ZIP Area

6,915

Density / Sq Mi

$82,758

Median Household Income

$52,492

Median Earnings

$1,410

Median Rent

$529,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• StoreMe Luggage Storage (reserve on online) — 2727 Prytania St, New Orleans, LA 70130
• Extra Space Storage — 1601 Tchoupitoulas St, New Orleans, LA 70130
• Bounce Luggage Storage - magazine street — 1900 Magazine St, New Orleans, LA 70130
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• Public Storage — 1901 St Charles Ave, New Orleans, LA 70130

Frequently Asked Questions

What type of property is this?

Warehouse - Fenced industrial property with artist storage and workspace, upgraded electrical capacity, and separate exterior storage.

Where is this warehouse located?

The property is located at 1020 Erato St New Orleans, LA.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: 4,916 SF dock‑high warehouse building; 10,418 SF fenced lot; 600 amp electrical service with 3 electric meters