Gated Flex Space
For Sale
$767,281
308 Saint George Avenue, New Orleans, LA 70121
Two-building commercial property combines warehouse and office functionality with paved outdoor areas and controlled entry.
Property Size7,223 SF
Lot Size0.46 Acres
Price / SF$106.23
Days on Market91
Property Features for 308 Saint George Avenue
General Information
Standard status
Active
Size
7,223 SF
Lot size
0.46 Acres
Property subtype
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Amenities
private fence
gated access
Building Details
Buildings
2
Listing Agency:
CBRE
(504) 427-2090
Listed By:
Bryce French · License #0995690959
(504) 427-2090
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 1:38PM
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 CBRE
Investment Insights
Based on property information with market context.
This flex-space property includes two buildings with approximately 7,223 SF of combined warehouse and office area. Interior clearance ranges from 12 to 14 feet at the eaves, with a 21-foot peak providing additional vertical capacity. The configuration supports a mix of operational, storage, and administrative functions within one commercial compound.
Approximately ±0.46 acres are included, with the area beyond the building footprints stabilized and paved. A private fence and gated entry secure the site. The property is located along Saint George Avenue with access to Highway 90 and the greater New Orleans MSA.
Approximately ±0.46 acres are included, with the area beyond the building footprints stabilized and paved. A private fence and gated entry secure the site. The property is located along Saint George Avenue with access to Highway 90 and the greater New Orleans MSA.
Key Highlights
- ±7,223 SF across two warehouse and office buildings
- ±0.46 acres with stabilized and paved areas outside the building footprints
- 12 to 14‑foot eaves and a 21‑foot peak
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
$68,481
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
8.93%
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%
$1,369,620
$1.4M
Cap Rate 7%
$978,300
$978.3K
Cap Rate 9%
$760,900
$760.9K
Market Conditions
NOI Build-Up for 7,223 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
$112.7K $15.60/SF
− Vacancy
−$7.3K −$1.01/SF
EGI
$105.4K $14.59/SF
− OpEx
−$36.9K −$5.11/SF
NOI
$68.5K $9.48/SF
Area
New Orleans, LA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,369,620
Cap Rate 7%
$978,300
Cap Rate 9%
$760,900
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,468 @ 7.0% cap · market cap 13.88%
Second Best
Flex RnD
$978.3K
$856.0K – $1.14M
NOI $68,481 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,509 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70121, LA
11,523
Population
6,415
Households
1.8
Avg Household Size
46
Median Age
36%
College-Educated
88%
High-School Grad
3.3 sq mi
ZIP Area
3,492
Density / Sq Mi
$59,029
Median Household Income
$40,151
Median Earnings
$1,113
Median Rent
$237,200
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?
Flex space - Two-building commercial property combines warehouse and office functionality with paved outdoor areas and controlled entry.
Where is this flex space located?
The property is located at 308 Saint George Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $767,281.
What are key features of this property?
This property features: ±7,223 SF across two warehouse and office buildings; ±0.46 acres with stabilized and paved areas outside the building footprints; 12 to 14‑foot eaves and a 21‑foot peak
