Historic Multi-Level Office
For Sale
$2,495,000
2200 Prytania St, New Orleans, LA 70130
Four-level office property with preserved architectural details, adaptable upper-floor layouts, and a private rear courtyard.
Property Size6,769 SF
Price / SF$368.59
Days on Market280
Property Features for 2200 Prytania St
General Information
Standard status
Active
Size
6,769 SF
Total Parking Spaces
3
Property subtype
Office
Zoning
HU-RD1
Amenities
private courtyard
exterior galleries
marble fireplaces
original wood floors
original windows
curving stairway
large windows
tall ceilings
wrought iron balcony
3 Parking Spaces
Building Details
Year Built
1858
Buildings
1
Stories
4
Construction
Greek Revival/Italianate
Owner Occupied
Yes
Listing Agency:
Felicity Property Co., LLC
(504) 586-8305
Listed By:
Jack Egle · License #995704008
(504) 586-8305
Source:
Lacdb.resimplifi
Added: Nov 24, 2025
Changed: Aug 28
Last Checked: Aug 31 at 1:48PM
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 four-level office property occupies the corner of Jackson Avenue and Prytania Street and retains substantial historic character. The Greek Revival and Italianate building includes two entrances, high ceilings, marble fireplaces, original wood floors and windows, a curved stairway, and a wrought iron balcony along Jackson Avenue. A renovation elevated the ground-floor level while revealing original structural framing and masonry.
The property includes a private rear courtyard with two exterior galleries and parking for three standard automobiles or four compact vehicles. Large windows on three sides provide natural light throughout the building. Upper floors offer flexible layouts supporting office, residential, and other commercial configurations. The property is one block from St. Charles Avenue, four blocks from Magazine Street, and near the Central Business District, institutions, and commercial businesses. Zoning is HU-RD1.
The property includes a private rear courtyard with two exterior galleries and parking for three standard automobiles or four compact vehicles. Large windows on three sides provide natural light throughout the building. Upper floors offer flexible layouts supporting office, residential, and other commercial configurations. The property is one block from St. Charles Avenue, four blocks from Magazine Street, and near the Central Business District, institutions, and commercial businesses. Zoning is HU-RD1.
Key Highlights
- Four‑level historic office building at 2200 Prytania St
- Private rear courtyard with two exterior galleries
- Parking for three standard or four compact automobiles
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
$99,776
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
4.00%
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%
$1,995,520
$2.0M
Cap Rate 7%
$1,425,371
$1.4M
Cap Rate 9%
$1,108,622
$1.1M
Market Conditions
NOI Build-Up for 6,769 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
$154.3K $22.80/SF
− Vacancy
−$21.3K −$3.15/SF
EGI
$133.0K $19.65/SF
− OpEx
−$33.3K −$4.91/SF
NOI
$99.8K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /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%
$1,995,520
Cap Rate 7%
$1,425,371
Cap Rate 9%
$1,108,622
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.66M
NOI $99,776 @ 7.0% cap · market cap 4.00%
Second Best
Mixed Use
$1.31M
$1.14M – $1.52M
NOI $91,382 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,432 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,703
Businesses Nearby
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 Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four-level office property with preserved architectural details, adaptable upper-floor layouts, and a private rear courtyard.
Where is this office building located?
The property is located at 2200 Prytania St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Four‑level historic office building at 2200 Prytania St; Private rear courtyard with two exterior galleries; Parking for three standard or four compact automobiles
