Historic Mixed-Use Office
For Sale
$2,495,000
2200 PRYTANIA Street, New Orleans, LA 70130
COMMERCIAL - New Orleans, LA
Property Size6,728 SF
Price / SF$370.84
Days on Market274
Property Features for 2200 PRYTANIA Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-RD1
Lot features
Corner
Subdivision
Garden District
Standard status
Active
APN
412102706
Size
6,728 SF
Taxes and HOA fees
Tax Description
SQ 202 PT LOT 13 PT LOT 14 JACKSON AND PRYTANIA 35 OVER 16 X 105 VAR 1452/56 JACKSON AV & 2200 PRYTANIA FILE #16704
Legal Description
SQ 202 PT LOT 13 PT LOT 14 JACKSON AND PRYTANIA 35 OVER 16 X 105 VAR 1452/56 JACKSON AV & 2200 PRYTANIA FILE #16704
Utilities
Water source
Public
Amenities
courtyard
original wrought iron balcony
exterior galleries
marble fireplaces
original wood floors
tall ceilings
curving stairway
multiple large windows
Building Details
Year built
1858
Floors in Building
4
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Added: Nov 25, 2025
Changed: Aug 4
Last Checked: Aug 26 at 2:06PM
MLS# 2532125
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic Greek Revival/Italianate building offers four levels with original features and a flexible interior layout. Interiors include marble fireplaces, original wood floors and windows, and a curving stairway serving the upper levels. A recent and sensitive renovation by Waggonner & Ball raised the ground floor level and exposed original framing and masonry walls. The upper floors are designed for a flexible plan and can support a range of residential and commercial uses. The property also includes multiple large windows on all levels for daylighting from three sides, along with a rear, private courtyard that has two exterior galleries and a parking area sized for three standard (or four compact) automobiles.
Situated at a corner location, the building has two entrances and a wrought iron front balcony on Jackson Avenue. It is described as being a block off St. Charles Avenue and four blocks from Magazine Street, with proximity to the Central Business District as well as institutions and commercial businesses.
The building’s configuration includes a ground floor plus upper levels, with a flexible floor plan and multiple window openings throughout, supporting different sizes of uses as needed.
Situated at a corner location, the building has two entrances and a wrought iron front balcony on Jackson Avenue. It is described as being a block off St. Charles Avenue and four blocks from Magazine Street, with proximity to the Central Business District as well as institutions and commercial businesses.
The building’s configuration includes a ground floor plus upper levels, with a flexible floor plan and multiple window openings throughout, supporting different sizes of uses as needed.
Key Highlights
- Greek Revival/Italianate historic building built in 1852 with four levels and original wrought iron front balcony on Jackson Avenue
- Corner of Jackson Avenue and Prytania Street; two entrances and tall ceilings with curving stairway and marble fireplaces
- Recent and sensitive renovation by Waggonner & Ball raised the ground floor level and exposed original framing and masonry walls
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
$99,172
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
3.97%
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%
$1,983,440
$2.0M
Cap Rate 7%
$1,416,743
$1.4M
Cap Rate 9%
$1,101,911
$1.1M
Market Conditions
NOI Build-Up for 6,728 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
$153.4K $22.80/SF
− Vacancy
−$21.2K −$3.15/SF
EGI
$132.2K $19.65/SF
− OpEx
−$33.1K −$4.91/SF
NOI
$99.2K $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%
$1,983,440
Cap Rate 7%
$1,416,743
Cap Rate 9%
$1,101,911
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.65M
NOI $99,172 @ 7.0% cap · market cap 3.97%
Second Best
Mixed Use
$1.30M
$1.14M – $1.51M
NOI $90,828 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,702 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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?
Live-work space - Four-level historic building with marble fireplaces, original wood details, and two entrances plus a private rear courtyard.
Where is this live-work space located?
The property is located at 2200 PRYTANIA Street 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: Greek Revival/Italianate historic building built in 1852 with four levels and original wrought iron front balcony on Jackson Avenue; Corner of Jackson Avenue and Prytania Street; two entrances and tall ceilings with curving stairway and marble fireplaces; Recent and sensitive renovation by Waggonner & Ball raised the ground floor level and exposed original framing and masonry walls
