Two-Story Storefront
For Sale
$750,000
8237 Oak St, New Orleans, LA 70118
HU-MU-zoned building with separate entrances and a fenced rear area.
Property Size2,606 SF
Lot Size0.08 Acres
Price / SF$287.80
Days on Market502
Property Features for 8237 Oak St
General Information
Standard status
Active
Size
2,606 SF
Total Parking Spaces
5
Lot size
0.08 Acres
Property subtype
Retail
Zoning
HU-MU
Additional Details
Public Transit
Yes
Amenities
fenced backyard
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Corporate Realty - Place St. Charles
(504) 582-1406
Listed By:
Joe Gorman · License #995702434
(504) 582-1406
Source:
Lacdb.resimplifi
Added: Apr 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:04AM
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 Corporate Realty - Place St. Charles
Investment Insights
Based on property information with market context.
This two-story storefront property at 8237 Oak St comprises 2,606 SF on a 3,700-SF parcel. The ground floor includes a 1,500-SF suite that is leased, while the second floor has one month-to-month tenant. Each level is served by its own entrance, supporting separate occupancy arrangements.
A gated, fenced backyard provides approximately 4-5 parking spaces. The property is positioned just off Carrollton Avenue, with access to the St. Charles Avenue Streetcar and the Oak Street commercial corridor. HU-MU zoning applies to the site.
A gated, fenced backyard provides approximately 4-5 parking spaces. The property is positioned just off Carrollton Avenue, with access to the St. Charles Avenue Streetcar and the Oak Street commercial corridor. HU-MU zoning applies to the site.
Key Highlights
- 2,606‑SF two‑story building on a 3,700‑SF parcel
- 1,500‑SF ground floor suite is leased
- One month‑to‑month tenant occupies the second floor
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
$32,179
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
4.29%
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%
$643,580
$643.6K
Cap Rate 7%
$459,700
$459.7K
Cap Rate 9%
$357,544
$357.5K
Market Conditions
NOI Build-Up for 2,606 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
$46.9K $18.00/SF
− Vacancy
−$938 −$0.36/SF
EGI
$46.0K $17.64/SF
− OpEx
−$13.8K −$5.29/SF
NOI
$32.2K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$643,580
Cap Rate 7%
$459,700
Cap Rate 9%
$357,544
Alternative Uses
Best Use
Retail
$459.7K
$402.2K – $536.3K
NOI $32,179 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$662.4K
$579.6K – $772.8K
NOI $46,365 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 37%
Home Improvements & Furnishings 3%
Beauty & Spa 3%
Shell
Shops & Services
9,171 visits/mo
0.4 miles
Chevron
Shops & Services
5,992 visits/mo
0.3 miles
la Madeleine Country French Cafe
Dining
5,803 visits/mo
0.4 miles
Whitney Bank
Shops & Services
4,842 visits/mo
0.2 miles
Taco Loco
Dining
3,633 visits/mo
0.4 miles
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Foliage Systems Inc — 624 Lowerline St, New Orleans, LA 70118
- Ftda Florist in the USA — 850 S Carrollton Ave, New Orleans, LA 70118
- Ivy Glenda — 823 S Carrollton Ave B, New Orleans, LA 70118
- Thibodeaux's Floral Studio — 1114 S Carrollton Ave, New Orleans, LA 70118
- New Orleans Flower Delivery — 122 Industrial Ave #1a, Jefferson, LA 70121
Frequently Asked Questions
What type of property is this?
Storefront property - HU-MU-zoned building with separate entrances and a fenced rear area.
Where is this storefront property located?
The property is located at 8237 Oak St New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,606‑SF two‑story building on a 3,700‑SF parcel; 1,500‑SF ground floor suite is leased; One month‑to‑month tenant occupies the second floor
