Mixed-Use Assemblage with Excess
For Sale
$1,400,000
1440 N Dorgenois St, New Orleans, LA 70119
Existing commercial improvements combine office space and conditioned warehouse with additional land for future commercial or multifamily development.
Property Size3,000 SF
Lot Size0.65 Acres
Price / SF$466.67
Days on Market41
Property Features for 1440 N Dorgenois St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
15
Lot size
0.65 Acres
Property subtype
Investment
Zoning
HU-MU
Additional Details
Highway Access
Yes
Conditioned Warehouse
Yes
Amenities
Power
Water
Sewer
15 Parking Spaces
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty New Orleans
(504) 236-0222
Listed By:
Jeffrey Doussan · License #995690135,LOUISIANA
(504) 236-0222
Source:
Lacdb.resimplifi
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 11:22AM
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
This mixed-use assemblage combines four contiguous parcels at 1440 and 1450 N Dorgenois Street and 2431 and 2441 Kerlerec Street. The approximately 28,274-square-foot site spans about 0.65 acre and includes an existing commercial building with office space and conditioned warehouse area, along with substantial undeveloped land. The improvements can support immediate occupancy or leasing while the remaining land is retained for a later phase.
The property carries HU-MU zoning and is positioned in New Orleans’ 7th Ward near the Bayou Road corridor, Esplanade Ridge, Bayou St. John, City Park, the Fair Grounds, Tremé, and Mid-City. Regional access is available via I-10 at Broad Street and I-610. The zoning framework accommodates commercial, mixed-use, and multifamily development, including larger multifamily construction by conditional use and multiple multifamily structures by right.
The property carries HU-MU zoning and is positioned in New Orleans’ 7th Ward near the Bayou Road corridor, Esplanade Ridge, Bayou St. John, City Park, the Fair Grounds, Tremé, and Mid-City. Regional access is available via I-10 at Broad Street and I-610. The zoning framework accommodates commercial, mixed-use, and multifamily development, including larger multifamily construction by conditional use and multiple multifamily structures by right.
Key Highlights
- Four contiguous parcels offered as one assemblage
- Approximately 28,274 square feet spanning about 0.65 acre
- Existing commercial building with office and conditioned warehouse space
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
$44,550
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
3.18%
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%
$891,000
$891.0K
Cap Rate 7%
$636,429
$636.4K
Cap Rate 9%
$495,000
$495.0K
Market Conditions
NOI Build-Up for 3,000 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
$72.0K $24.00/SF
− Vacancy
−$12.6K −$4.20/SF
EGI
$59.4K $19.80/SF
− OpEx
−$14.9K −$4.95/SF
NOI
$44.6K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /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%
$891,000
Cap Rate 7%
$636,429
Cap Rate 9%
$495,000
Alternative Uses
Best Use
Office B
$636.4K
$556.9K – $742.5K
NOI $44,550 @ 7.0% cap · market cap 3.18%
Second Best
Mixed Use
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$785.0K
$686.9K – $915.8K
NOI $54,950 @ 7.0% cap · market cap 3.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,423
Businesses Nearby
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 Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing commercial improvements combine office space and conditioned warehouse with additional land for future commercial or multifamily development.
Where is this mixed-use property located?
The property is located at 1440 N Dorgenois St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Four contiguous parcels offered as one assemblage; Approximately 28,274 square feet spanning about 0.65 acre; Existing commercial building with office and conditioned warehouse space
