Flex Space With Office And
For Sale
$925,000
316 S Bernadotte St, New Orleans, LA 70119
Mixed commercial layout combines finished offices, warehouse access, storage areas, and multiple half baths.
Property Size8,650 SF
Price / SF$106.94
Days on Market31
Property Features for 316 S Bernadotte St
General Information
Standard status
Active
Size
8,650 SF
Building Details
Year Built
1950
Listing Agency:
Southeast Commercial of MS, LLC
(504) 339-2136
Listed By:
Matthew Eaton · License #000072493
Source:
Dominionplace
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 11:27AM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This flex property at 316 S Bernadotte St combines 1,239 square feet of finished office area with warehouse space. The office component includes a reception area, private office, bullpen, kitchenette, half bath, and several storage rooms and closets. The warehouse portion adds two overhead doors and two half baths, supporting practical separation between administrative and operational functions. The building was constructed in 1950 and sits on an 11,983-square-foot lot.
Access is supported by the property's position near I-10, City Park Avenue, and Canal Street, providing connections to multiple parts of New Orleans. The configuration offers a combination of office functionality, storage, and overhead-door warehouse access within one commercial property.
Access is supported by the property's position near I-10, City Park Avenue, and Canal Street, providing connections to multiple parts of New Orleans. The configuration offers a combination of office functionality, storage, and overhead-door warehouse access within one commercial property.
Key Highlights
- 1,239 square feet of finished office space
- Two overhead doors serving the warehouse area
- Office layout includes reception, private office, bullpen, kitchenette, and storage
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
$69,569
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
7.52%
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%
$1,391,380
$1.4M
Cap Rate 7%
$993,843
$993.8K
Cap Rate 9%
$772,989
$773.0K
Market Conditions
NOI Build-Up for 8,650 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
$86.2K $9.96/SF
− Vacancy
−$4.3K −$0.50/SF
EGI
$81.8K $9.46/SF
− OpEx
−$12.3K −$1.42/SF
NOI
$69.6K $8.04/SF
Area
ZIP 70119
Vacancy
5.00%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,391,380
Cap Rate 7%
$993,843
Cap Rate 9%
$772,989
Alternative Uses
Best Use
Office B
$1.84M
$1.61M – $2.14M
NOI $128,453 @ 7.0% cap · market cap 13.89%
Second Best
Warehouse
$993.8K
$869.6K – $1.16M
NOI $69,569 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,440 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Under-served
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
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 - Mixed commercial layout combines finished offices, warehouse access, storage areas, and multiple half baths.
Where is this flex space located?
The property is located at 316 S Bernadotte St New Orleans, LA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 1,239 square feet of finished office space; Two overhead doors serving the warehouse area; Office layout includes reception, private office, bullpen, kitchenette, and storage
