Historic Mixed-Use Office
For Sale
$2,495,000
2200 PRYTANIA Street, New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
Property Size6,728 SF
Price / SF$370.84
Days on Market274
Property Features for 2200 PRYTANIA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Balcony, Courtyard, Fence
Fencing
Fenced
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
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1858
Floors in Building
4
Number of units
1
Roof type
Shingle
Architectural style
Other
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 453-2277
Added: Nov 25, 2025
Changed: Jun 19
Last Checked: Aug 26 at 3:06PM
MLS# 2532124
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 four-level building features a Greek Revival/Italianate design with an original wrought iron front balcony on Jackson Avenue and a rear, private courtyard with two exterior galleries and a parking area for three standard (or four compact) automobiles. Interior details include tall ceilings, marble fireplaces, original wood floors and windows, and a curving stairway serving the upper levels. A recent renovation by Waggonner & Ball raised the ground floor level and exposed original framing and masonry walls. The upper floors offer a flexible layout that can support residential and commercial uses in different sizes.
The property has multiple large windows on all levels for daylighting from three sides and is described as being a block off St. Charles Avenue and four blocks from Magazine Street, with convenient proximity to the Central Business District, institutions, and commercial businesses.
With two entrances and a configuration that includes upper-level stair access, the building is suited to owners seeking a distinctive historic structure with adaptable interior space.
The property has multiple large windows on all levels for daylighting from three sides and is described as being a block off St. Charles Avenue and four blocks from Magazine Street, with convenient proximity to the Central Business District, institutions, and commercial businesses.
With two entrances and a configuration that includes upper-level stair access, the building is suited to owners seeking a distinctive historic structure with adaptable interior space.
Key Highlights
- Historic Greek Revival/Italianate building designed by Henry Howard for John Tiner, with construction dates listed as 1852 and year built 1858
- Corner of Jackson Avenue and Prytania Street in the Garden District; 4 levels with original wrought iron front balcony on Jackson Avenue
- Rear private courtyard with two exterior galleries plus parking area 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
$78,306
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
3.14%
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%
$1,566,120
$1.6M
Cap Rate 7%
$1,118,657
$1.1M
Cap Rate 9%
$870,067
$870.1K
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
$156.6K $23.28/SF
− Vacancy
−$14.3K −$2.12/SF
EGI
$142.4K $21.16/SF
− OpEx
−$64.1K −$9.52/SF
NOI
$78.3K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,566,120
Cap Rate 7%
$1,118,657
Cap Rate 9%
$870,067
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$978.8K – $1.31M
NOI $78,306 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four-level historic structure with two entrances, tall ceilings, and a private rear courtyard with parking for three cars.
Where is this multifamily property 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: Historic Greek Revival/Italianate building designed by Henry Howard for John Tiner, with construction dates listed as 1852 and year built 1858; Corner of Jackson Avenue and Prytania Street in the Garden District; 4 levels with original wrought iron front balcony on Jackson Avenue; Rear private courtyard with two exterior galleries plus parking area for three standard (or four compact) automobiles
