Renovated Office
For Sale
$269,000
213 - 215 oak Street, Harahan, LA 70123
C-2-zoned office property with a fully paved lot and two separate sides for occupancy flexibility.
Property Size1,247 SF
Price / SF$215.72
Days on Market114
Property Features for 213 - 215 oak Street
General Information
Standard status
Active
Size
1,247 SF
Property subtype
Office
Zoning
C-2
Amenities
Water
Sewer
Listing Agency:
Nola Living Realty
(504) 259-7945
Listed By:
Eric Hernandez · License #995689934
(504) 259-7945
Source:
Lacdb.resimplifi
Added: May 8
Changed: Aug 28
Last Checked: Aug 29 at 5:59AM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
This renovated office property at 213–215 Oak Street includes two separate sides within a C-2-zoned commercial asset. The configuration supports an owner-user arrangement in which one side can be occupied while the other is leased for income, subject to applicable requirements.
The property includes a fully paved lot and is located in Harahan, Louisiana, 70123. Its office-unit layout provides a practical basis for combining business operations with rental use in the same building.
The property includes a fully paved lot and is located in Harahan, Louisiana, 70123. Its office-unit layout provides a practical basis for combining business operations with rental use in the same building.
Key Highlights
- C‑2 zoning
- Two separate office sides support owner occupancy and leasing flexibility
- Fully paved lot
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
$17,355
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
6.45%
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%
$347,100
$347.1K
Cap Rate 7%
$247,929
$247.9K
Cap Rate 9%
$192,833
$192.8K
Market Conditions
NOI Build-Up for 1,247 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
$27.4K $21.96/SF
− Vacancy
−$4.2K −$3.40/SF
EGI
$23.1K $18.56/SF
− OpEx
−$5.8K −$4.64/SF
NOI
$17.4K $13.92/SF
Area
ZIP 70123
Vacancy
15.50%
Lease Rate
$21.96 /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%
$347,100
Cap Rate 7%
$247,929
Cap Rate 9%
$192,833
Alternative Uses
Best Use
Office B
$247.9K
$216.9K – $289.3K
NOI $17,355 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.9K
$279.9K – $373.2K
NOI $22,393 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-2-zoned office property with a fully paved lot and two separate sides for occupancy flexibility.
Where is this office units located?
The property is located at 213 - 215 oak Street Harahan, LA.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: C‑2 zoning; Two separate office sides support owner occupancy and leasing flexibility; Fully paved lot
