Dock-High
For Sale
$2,050,000
2123 Tchoupitoulas St, New Orleans, LA 70130
Renovated warehouse with dock access, surface parking, three-phase power, and a legal non-conforming warehouse use.
Property Size26,712 SF
Price / SF$76.74
Days on Market68
Property Features for 2123 Tchoupitoulas St
General Information
Standard status
Active
Size
26,712 SF
Building Details
Year Built
2025
Listing Agency:
Felicity Property Co., LLC
(504) 586-8305
Listed By:
Jack Egle' · License #995704008
Source:
Dominionplace
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 30 at 7:35PM
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 Felicity Property Co., LLC
Investment Insights
Based on property information with market context.
This 26,712-square-foot warehouse comprises two connected buildings with clear-span interiors, 15-foot eaves, and a 28-foot ridge. Four dock-height doors, including one interior door, support loading operations. The property was built in 2025, has surface parking, and features a roof coating backed by a warranty through March 2029. Electrical service is three-phase, 400 amps.
Located at 2123 Tchoupitoulas Street, the property provides visibility along Tchoupitoulas Street with direct connections to I-10, the Crescent City Connection, and the Port of New Orleans. The Convention Center and Mardi Gras World are nearby, while Uptown, the CBD, and the French Quarter are accessible by car. The site is zoned HU-MU and currently operates under a legal non-conforming warehouse use.
The property supports warehouse operations and is also identified for potential catering kitchen, brewery or distillery, artisan manufacturing, health club, social club, indoor amusement facility, and recording studio uses.
Located at 2123 Tchoupitoulas Street, the property provides visibility along Tchoupitoulas Street with direct connections to I-10, the Crescent City Connection, and the Port of New Orleans. The Convention Center and Mardi Gras World are nearby, while Uptown, the CBD, and the French Quarter are accessible by car. The site is zoned HU-MU and currently operates under a legal non-conforming warehouse use.
The property supports warehouse operations and is also identified for potential catering kitchen, brewery or distillery, artisan manufacturing, health club, social club, indoor amusement facility, and recording studio uses.
Key Highlights
- 26,712 SF warehouse in two connected buildings
- Four dock‑height doors, including one internal door
- 15‑foot eave height and 28‑foot ridge height
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
$170,529
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
8.32%
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%
$3,410,580
$3.4M
Cap Rate 7%
$2,436,129
$2.4M
Cap Rate 9%
$1,894,767
$1.9M
Market Conditions
NOI Build-Up for 26,712 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
$256.4K $9.60/SF
− Vacancy
−$12.8K −$0.48/SF
EGI
$243.6K $9.12/SF
− OpEx
−$73.1K −$2.74/SF
NOI
$170.5K $6.38/SF
Area
New Orleans, LA
Vacancy
5.00%
Lease Rate
$9.60 /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%
$3,410,580
Cap Rate 7%
$2,436,129
Cap Rate 9%
$1,894,767
Alternative Uses
Best Use
Flex RnD
$3.62M
$3.17M – $4.22M
NOI $253,254 @ 7.0% cap · market cap 12.35%
Second Best
Warehouse
$2.79M
$2.44M – $3.25M
NOI $195,151 @ 7.0% cap · market cap 9.52%
Theoretical Best
Office A
$6.79M
$5.94M – $7.92M
NOI $475,251 @ 7.0% cap · market cap 23.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Balanced
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Renovated warehouse with dock access, surface parking, three-phase power, and a legal non-conforming warehouse use.
Where is this warehouse located?
The property is located at 2123 Tchoupitoulas St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 26,712 SF warehouse in two connected buildings; Four dock‑height doors, including one internal door; 15‑foot eave height and 28‑foot ridge height
