Office Building with Gated
For Sale
$980,000
301 S Broad St, New Orleans, LA 70119
Three-level office property with upgraded building systems, upper-floor restrooms, and a full kitchen on the top floor.
Property Size5,943 SF
Price / SF$164.90
Days on Market420
Property Features for 301 S Broad St
General Information
Standard status
Active
Size
5,943 SF
Total Parking Spaces
22
Elevators
Yes
Property subtype
Office
Zoning
HU-MU
Additional Details
Gross Income
$111,600
Amenities
Power
Water
Sewer
22 Parking Spaces
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty New Orleans
(504) 300-5179
Listed By:
Brittany Picolo · License #995687117
(504) 300-5179
Source:
Lacdb.resimplifi
Added: Jul 8, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:05PM
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-level office building contains 5,943 square feet and is configured for separate floor occupancy. Interior features include Burmese Ironwood flooring, restrooms on the upper floors, and a full kitchen on the third level. A new roof and modern elevator were added following Hurricane Ida and Hurricane Katrina. The property also includes a detached structure with a roll-up door, providing additional enclosed space.
Located at the intersection of Broad and Canal in New Orleans, the property offers access to nearby restaurants, coffee shops, and major businesses. A private gated area provides 22 off-street parking spaces, supporting daily operations for occupants and visitors. The property is zoned HU-MU.
Located at the intersection of Broad and Canal in New Orleans, the property offers access to nearby restaurants, coffee shops, and major businesses. A private gated area provides 22 off-street parking spaces, supporting daily operations for occupants and visitors. The property is zoned HU-MU.
Key Highlights
- 5,943‑square‑foot office building arranged across three levels
- Private gated parking area with 22 off‑street spaces
- New roof and modern elevator added after Hurricane Ida and Hurricane Katrina
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
$88,254
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
9.01%
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%
$1,765,080
$1.8M
Cap Rate 7%
$1,260,771
$1.3M
Cap Rate 9%
$980,600
$980.6K
Market Conditions
NOI Build-Up for 5,943 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
$142.6K $24.00/SF
− Vacancy
−$25.0K −$4.20/SF
EGI
$117.7K $19.80/SF
− OpEx
−$29.4K −$4.95/SF
NOI
$88.3K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,765,080
Cap Rate 7%
$1,260,771
Cap Rate 9%
$980,600
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $88,254 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.81M
NOI $108,857 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,069
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
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-level office property with upgraded building systems, upper-floor restrooms, and a full kitchen on the top floor.
Where is this office building located?
The property is located at 301 S Broad St New Orleans, LA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 5,943‑square‑foot office building arranged across three levels; Private gated parking area with 22 off‑street spaces; New roof and modern elevator added after Hurricane Ida and Hurricane Katrina
