Flex Space with Warehouse and
2323 Iberville Street, New Orleans, LA 70119
For Sale
New
$699,000
Commercial Sale, New Orleans, LA
Property Size4,004 SF
Lot Size0.18 Acres
Price / SF$174.58
Days on Market3
Property Features for 2323 Iberville Street
General Information
Property type
Property subtype
Zoning
Parking features
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
laundry facilities
Building Details
Year built
Floors in Building
Flooring type
Building materials
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Cassondra Larsen · License LA #000028198
(504) 628-4686
Added: Nov 11
Last Checked: Nov 13 at 11:06PM
MLS# 200SVP
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property combines 4,004 square feet of warehouse and office space on a 0.18-acre parcel. The warehouse has high ceilings, access at both the front and rear, and loft storage. A separate office area includes a full bathroom and washer and dryer. Concrete flooring, central heating and air conditioning, and brick construction complete the building features.
The property is at 2323 Iberville Street in New Orleans, within the Mid-City area. Gated parking is provided, with a side parking area and additional rear yard for outdoor storage. Zoning is HU-B1. Public water and public sewer serve the site.
The property is at 2323 Iberville Street in New Orleans, within the Mid-City area. Gated parking is provided, with a side parking area and additional rear yard for outdoor storage. Zoning is HU-B1. Public water and public sewer serve the site.
Key Highlights
- 4,004 square feet of warehouse and office space on 0.18 acres
- Warehouse includes high ceilings, front and rear access, and loft storage
- Office area has a full bathroom and washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,203
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,060
$644.1K
Cap Rate 7%
$460,043
$460.0K
Cap Rate 9%
$357,811
$357.8K
Market Conditions
NOI Build-Up for 4,004 SF
Gross rent
$39.9K $9.96/SF
− Vacancy
−$2.0K −$0.50/SF
EGI
$37.9K $9.46/SF
− OpEx
−$5.7K −$1.42/SF
NOI
$32.2K $8.04/SF
Area
ZIP 70119
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,060
Cap Rate 7%
$460,043
Cap Rate 9%
$357,811
Alternative Uses
Best Use
Warehouse
$460.0K
$402.5K – $536.7K
NOI $32,203 @ 7.0% cap · market cap 4.61%
Second Best
Flex RnD
$419.4K
$367.0K – $489.3K
NOI $29,357 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.05M
$916.8K – $1.22M
NOI $73,340 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,040
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Market
Properties on Market for Flex space in New Orleans
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
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- Taste of Memphis BBQ Joint & Catering — 135 S Dorgenois St, New Orleans, LA 70119, United States
- Faubourg farms — 2617 Conti St, New Orleans, LA 70119
Frequently Asked Questions
What type of property is this?
Flex space - Brick construction, gated parking, and an additional yard support a range of commercial operations.
Where is this flex space located?
The property is located at 2323 Iberville Street New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,004 square feet of warehouse and office space on 0.18 acres; Warehouse includes high ceilings, front and rear access, and loft storage; Office area has a full bathroom and washer and dryer
