Multi-Unit Flex
New
For Sale
$850,000
3101 Conti Street, New Orleans, LA 70119
Two warehouse buildings provide three separately occupied spaces with office, gym, creative, woodworking, and design uses.
Property Size10,085 SF
Price / SF$84.28
Days on Market2
Property Features for 3101 Conti Street
General Information
Standard status
Active
Size
10,085 SF
Property subtype
Commercial
Zoning
HU-MU
Building Details
Year Built
1970
Buildings
2
Tenancy
Multi-Tenant
Listing Agency:
Realties of St. Charles, LLC
Listed By:
Jasnira Zuniga · License #ZUNIJASN
Source:
Thepuckettteam
Added: Sep 22
Last Checked: Sep 22 at 1:45PM
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 Realties of St. Charles, LLC
Investment Insights
Based on property information with market context.
This 10,085-square-foot flex property consists of two warehouse buildings arranged as three separate units. The improvements include a gym-oriented flex area with attached offices, a creative workshop studio, and a woodworking and design workshop. The property is being offered in its existing condition, with the spaces currently rented.
Positioned at the corner of Conti Street and N. Salcedo Street, the site is zoned HU-MU and sits near medical, hospitality, and industrial corridors. The sale includes 3111 Conti, 3101 Conti, and 401 N. Salcedo. Nearby destinations and transportation features include Bienville, Norman C. Francis Parkway, the Lafitte Greenway, and Bayou St. John. The buildings date to 1970.
Positioned at the corner of Conti Street and N. Salcedo Street, the site is zoned HU-MU and sits near medical, hospitality, and industrial corridors. The sale includes 3111 Conti, 3101 Conti, and 401 N. Salcedo. Nearby destinations and transportation features include Bienville, Norman C. Francis Parkway, the Lafitte Greenway, and Bayou St. John. The buildings date to 1970.
Key Highlights
- 10,085‑square‑foot flex property with two warehouse buildings
- Three separate units currently rented
- HU‑MU zoning
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
$73,943
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
8.70%
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%
$1,478,860
$1.5M
Cap Rate 7%
$1,056,329
$1.1M
Cap Rate 9%
$821,589
$821.6K
Market Conditions
NOI Build-Up for 10,085 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
$121.0K $12.00/SF
− Vacancy
−$7.3K −$0.72/SF
EGI
$113.8K $11.28/SF
− OpEx
−$39.8K −$3.95/SF
NOI
$73.9K $7.33/SF
Area
ZIP 70119
Vacancy
6.00%
Lease Rate
$12.00 /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%
$1,478,860
Cap Rate 7%
$1,056,329
Cap Rate 9%
$821,589
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.50M
NOI $149,762 @ 7.0% cap · market cap 17.62%
Second Best
Warehouse
$1.16M
$1.01M – $1.35M
NOI $81,111 @ 7.0% cap · market cap 9.54%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,725 @ 7.0% cap · market cap 21.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-Tenant-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,476
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Two warehouse buildings provide three separately occupied spaces with office, gym, creative, woodworking, and design uses.
Where is this flex space located?
The property is located at 3101 Conti Street New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 10,085‑square‑foot flex property with two warehouse buildings; Three separate units currently rented; HU‑MU zoning
