Multi-Unit Flex
3101 Conti Street, New Orleans, LA 70119
For Sale
$850,000
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 Market47
Property Features for 3101 Conti Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Realties of St. Charles, LLC
Listed By:
Jasnira Zuniga · License #ZUNIJASN
Source:
Thepuckettteam
Added: Sep 22
Changed: Oct 25
Last Checked: Oct 23 at 4:13AM
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
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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 / Yr
$73,943
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
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Tenancy
Location Intelligence
Trade Area within ½ mile
2,476
Businesses Nearby
Balanced
Demand for This Use
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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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Market
Properties on Market for Flex space in New Orleans
Vacancy Rate% for Office in New Orleans, LA
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- Cloud 9 Grill 504 LLC — 2317 Magic St, New Orleans, LA 70119
- The High Horse Mobile Bar — 3828 Bienville St, New Orleans, LA 70119
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
