Office Condominium with
For Sale
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334 Carondelet Street Unit C, New Orleans, LA 70130
Flexible commercial condominium with executive offices, customer-facing space, training facilities, and a polished interior buildout.
Property Size9,450 SF
Price / SF$237.99
Days on Market8
Property Features for 334 Carondelet Street Unit C
General Information
Standard status
Active
Size
9,450 SF
Property subtype
Office, Retail
Zoning
CBD-1
Listing Agency:
Talbot Realty Group
Listed By:
Bobby Talbot · License #LA 0000006978
(504) 237-1266
Source:
Crexi
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 16 at 2:06PM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
This 9,450-square-foot office condominium occupies space within Union Lofts Condominiums and combines a showroom-oriented layout with substantial private and support areas. The interior includes an open presentation area, kitchen, bar and lounge, board room, vault, private offices, storage, and a 24-seat classroom or training room. The property was previously used as a showroom and lab/research facility and carries Class A finishes.
The unit is positioned at 334 Carondelet Street in New Orleans’ CBD, surrounded by hotels, Class A office towers, restaurants, and museums. It is three blocks from both the French Quarter and the Warehouse District. CBD-1 uses identified in the property information include showroom, office, retail, bank, and private client venue applications.
The unit is positioned at 334 Carondelet Street in New Orleans’ CBD, surrounded by hotels, Class A office towers, restaurants, and museums. It is three blocks from both the French Quarter and the Warehouse District. CBD-1 uses identified in the property information include showroom, office, retail, bank, and private client venue applications.
Key Highlights
- 9,450 SF commercial condominium within Union Lofts Condominiums
- CBD‑1 property with showroom, office, retail, bank, and private client venue uses identified
- Open showroom area with kitchen, bar, lounge, board room, vault, and private offices
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
$139,295
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
6.19%
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%
$2,785,900
$2.8M
Cap Rate 7%
$1,989,929
$2.0M
Cap Rate 9%
$1,547,722
$1.5M
Market Conditions
NOI Build-Up for 9,450 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
$215.5K $22.80/SF
− Vacancy
−$29.7K −$3.15/SF
EGI
$185.7K $19.65/SF
− OpEx
−$46.4K −$4.91/SF
NOI
$139.3K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /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%
$2,785,900
Cap Rate 7%
$1,989,929
Cap Rate 9%
$1,547,722
Alternative Uses
Best Use
Office B
$1.99M
$1.74M – $2.32M
NOI $139,295 @ 7.0% cap · market cap 6.19%
Second Best
Retail
$1.67M
$1.46M – $1.94M
NOI $116,689 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,131 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
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?
Office units - Flexible commercial condominium with executive offices, customer-facing space, training facilities, and a polished interior buildout.
Where is this office units located?
The property is located at 334 Carondelet Street Unit C New Orleans, LA.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: 9,450 SF commercial condominium within Union Lofts Condominiums; CBD‑1 property with showroom, office, retail, bank, and private client venue uses identified; Open showroom area with kitchen, bar, lounge, board room, vault, and private offices
