Three-Story Office
301-303 S BROAD Street New Orleans, LA 70119
301-303 S BROAD Street, New Orleans, LA, 70119
$1,200,000
For Sale
$1,200,000
Three-story office building with an elevator, 22 gated parking spaces, and leased first and third floors.
Property Size6,150 SF
Price / SF$195.12
Days on Market241
Property Features for 301-303 S BROAD Street
General Information
- Standard status
- Active
- Size
- 6,150 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1989
Listing agency
Keller Williams Realty New Orleans
(504) 300-5179
Listed by
Brittany Picolo · License #995687117
(504) 300-5179
Source
Xome
Added: Nov 23, 2025 Updated: Jul 21 at 11:47PM Checked: Jul 22 at 3:39AM
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 New Orleans
Investment Insights
Based on property information with market context.
This three-story commercial office building features Burmese Ironwood flooring, a newer roof, and a commercial-grade elevator. Restrooms are provided on multiple levels, and the building includes a detached storage building with a roll-up garage door. According to the seller, the first and third floors are currently leased, while the second floor is available for lease.
The property is zoned HU-MU and is described as centrally located steps from Canal Street, the Lafitte Greenway, and nearby shops and restaurants. The building also offers 22 gated off-street parking spaces.
For buyers seeking a building with existing income and a potential leased second-floor component, the current configuration includes both tenant-occupied space and an available floor within the same office structure.
The property is zoned HU-MU and is described as centrally located steps from Canal Street, the Lafitte Greenway, and nearby shops and restaurants. The building also offers 22 gated off-street parking spaces.
For buyers seeking a building with existing income and a potential leased second-floor component, the current configuration includes both tenant-occupied space and an available floor within the same office structure.
Key Highlights
- Three‑story commercial building built in 1989 with a commercial‑grade elevator
- First and third floors are leased for $6,800/month; second floor is available for lease or owner occupancy
- Zoned HU‑MU with 22 gated off‑street parking spaces
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 | $147.6k | $24.00 |
| − Vacancy | −$25.8k | −$4.20 |
| EGI | $121.8k | $19.80 |
| − OpEx | −$30.4k | −$4.95 |
| NOI | $91.3k | $14.85 |
6,150 SF · lease $24.00/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,328 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,648 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Three-story office building with an elevator, 22 gated parking spaces, and leased first and third floors.
Where is this office building located?
The property is located at 301-303 S BROAD Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three‑story commercial building built in 1989 with a commercial‑grade elevator; First and third floors are leased for $6,800/month; second floor is available for lease or owner occupancy; Zoned HU‑MU with 22 gated off‑street parking spaces
