Five-Story Office
For Sale
$6,200,000
2714 Canal Street, New Orleans, LA 70119
Transit-served office property with adaptable floorplates and an adjacent land assemblage for parking, services, or phased development.
Property Size43,000 SF
Price / SF$144.19
Days on Market396
Property Features for 2714 Canal Street
General Information
Standard status
Active
Size
43,000 SF
Property subtype
Office
Zoning
HU-MU
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$6,200,000
Building Details
Year Built
1969
Buildings
1
Stories
5
Building Size
43,000 SF
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
Listed By:
Chris Ross
(504) 352-1492
Source:
Lacdb.resimplifi
Added: Sep 15, 2025
Changed: Oct 4
Last Checked: Oct 14 at 7:48PM
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 NAI Rampart Commercial Real Estate New Orleans
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Investment Insights
Based on property information with market context.
The offering centers on a five-story office tower completed in 1969, with approximately 43,000 square feet of floor area and efficient floorplates suited to office or adaptive-reuse planning. The building has a prominent ground-level presence and is accompanied by vacant parcels forming a larger assemblage across Canal Street, South White Street, and Cleveland Avenue. Together, the improvements and land provide room for parking, service functions, and phased development while retaining the tower as the central building.
The property fronts Canal Street near the CBD and Mid-City and is served by transit. It is located within the HU-MU Neighborhood Mixed-Use District, which supports mixed-use development near residential areas and encourages active ground-floor retail and personal services with residential uses above. The building’s 1969 vintage and architectural character may support consideration of Historic Rehabilitation Tax Credits, subject to eligibility, contributing status, scope, and approvals.
The property fronts Canal Street near the CBD and Mid-City and is served by transit. It is located within the HU-MU Neighborhood Mixed-Use District, which supports mixed-use development near residential areas and encourages active ground-floor retail and personal services with residential uses above. The building’s 1969 vintage and architectural character may support consideration of Historic Rehabilitation Tax Credits, subject to eligibility, contributing status, scope, and approvals.
Key Highlights
- Five‑story office tower with approximately 43,000 SF
- Completed in 1969
- Vacant land assemblage spans Canal Street, South White Street, and Cleveland Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$567,600
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,352,000
$11.4M
Cap Rate 7%
$8,108,571
$8.1M
Cap Rate 9%
$6,306,667
$6.3M
Market Conditions
NOI Build-Up for 43,000 SF
Gross rent
$1.03M $24.00/SF
− Vacancy
−$123.8K −$2.88/SF
EGI
$908.2K $21.12/SF
− OpEx
−$340.6K −$7.92/SF
NOI
$567.6K $13.20/SF
Area
ZIP 70119
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,352,000
Cap Rate 7%
$8,108,571
Cap Rate 9%
$6,306,667
Alternative Uses
Best Use
Office B
$9.12M
$7.98M – $10.64M
NOI $638,550 @ 7.0% cap · market cap 10.30%
Second Best
Mixed Use
$8.11M
$7.10M – $9.46M
NOI $567,600 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$11.25M
$9.85M – $13.13M
NOI $787,622 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,777
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office building - Transit-served office property with adaptable floorplates and an adjacent land assemblage for parking, services, or phased development.
Where is this office building located?
The property is located at 2714 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: Five‑story office tower with approximately 43,000 SF; Completed in 1969; Vacant land assemblage spans Canal Street, South White Street, and Cleveland Avenue
