Flex Warehouse with Live-Work
2323 IBERVILLE Street New Orleans, LA 70119
2323 IBERVILLE Street, New Orleans, LA, 70119
$750,000
For Sale
$750,000
Warehouse with front and rear access plus a renovated air-conditioned live/work suite featuring offices, kitchenette, and full bath.
Property Size4,004 SF
Price / SF$187.31
Days on Market105
Property Features for 2323 IBERVILLE Street
General Information
- Standard status
- Active
- Size
- 4,004 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1920
Listing agency
KELLER WILLIAMS REALTY 455-0100
(504) 628-4686
Listed by
Cassondra Larsen · License #000028198
(504) 628-4686
Source
Xome
Added: Apr 9 Updated: Jul 20 at 9:33PM Checked: Jul 21 at 3:14AM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This flex warehouse property combines a functional warehouse with an additional finished live/work space. The warehouse includes high ceilings and a lofted storage area of approximately 500 square feet, along with a half bath. The second space is air-conditioned and renovated approximately five years ago, with a private entrance, kitchenette, wet bar, washer and dryer area, full bathroom, and two large office spaces that can serve as workspaces or living quarters.
The property is located in the heart of Mid-City’s Historic District and sits on a spacious lot. There is an adjacent parcel for parking and vehicle storage, along with front parking and a side lot. The rear yard measures 39 x 58, offering additional outdoor space for storage, expansion, or further development.
Significant improvements include updated electrical systems and new under-slab plumbing. The warehouse also provides both front and rear access, supporting flexible day-to-day operations.
The property is located in the heart of Mid-City’s Historic District and sits on a spacious lot. There is an adjacent parcel for parking and vehicle storage, along with front parking and a side lot. The rear yard measures 39 x 58, offering additional outdoor space for storage, expansion, or further development.
Significant improvements include updated electrical systems and new under-slab plumbing. The warehouse also provides both front and rear access, supporting flexible day-to-day operations.
Key Highlights
- Warehouse property with front and rear access, plus high ceilings and a lofted storage area of approx. 500 SF with a half bath
- Renovated (approx. 5 years ago) air‑conditioned live/work suite with private entrance, kitchenette, wet bar, washer/dryer area, and full bath
- Suite includes two large office spaces that can serve as workspaces or living quarters
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.1k | $24.00 |
| − Vacancy | −$16.8k | −$4.20 |
| EGI | $79.3k | $19.80 |
| − OpEx | −$19.8k | −$4.95 |
| NOI | $59.5k | $14.85 |
4,004 SF · lease $24.00/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$849.4K
$743.2K – $991.0K
NOI $59,459 @ 7.0% cap · market cap 7.93%
Second Best
Mixed Use
$755.0K
$660.7K – $880.9K
NOI $52,853 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$1.05M
$916.8K – $1.22M
NOI $73,340 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Diversified Energy
Hardware & Home Improvement
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FAQs
What type of property is this?
Flex space - Warehouse with front and rear access plus a renovated air-conditioned live/work suite featuring offices, kitchenette, and full bath.
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 $750,000.
What are key features of this property?
This property features: Warehouse property with front and rear access, plus high ceilings and a lofted storage area of approx. 500 SF with a half bath; Renovated (approx. 5 years ago) air‑conditioned live/work suite with private entrance, kitchenette, wet bar, washer/dryer area, and full bath; Suite includes two large office spaces that can serve as workspaces or living quarters
