Office Building with
3420 CANAL Street, New Orleans, LA 70119
For Sale
$1,250,000
Office building with off-street parking and commercial zoning.
Property Size2,963 SF
Lot Size0.11 Acres
Price / SF$421.87
Days on Market622
Property Features for 3420 CANAL Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Southeast Commercial of MS, LLC
(228) 276-2700
Listed By:
Matthew Eaton · License #000072493
(504) 339-2136
Source:
Exitrealty
Added: Feb 26, 2025
Changed: Aug 8
Last Checked: Apr 6 at 4:00AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The properties at 3420 and 3426 Canal Street are available for purchase together, offering an office building and off-street parking. The building at 3426 Canal Street is a 2,963 square foot office building situated on a 4,800 square foot lot. It features a full sprinkler system, a terracotta roof installed after Hurricane Katrina, a new sewerage line, and ADA accessibility features. The adjacent property at 3420 Canal Street includes a 1,600 square foot building in shell condition. This building was raised and shored after Hurricane Katrina, and a new roof was added after Hurricane Ida. Currently utilized for storage, the property also includes a 1,100 square foot clear span storage shed. The building at 3420 Canal could be demolished, and the land could be converted into off-street parking. Both properties are zoned HU-MU, providing flexibility for various commercial applications. There are multiple purchasing options available, including purchasing the properties separately, purchasing 3420-26 Canal as a package, or purchasing the entire Canal Street portfolio, which includes 3420, 3426, 3432 Canal Street, and 118, 124 S. Clark Street.
Key Highlights
- HU‑MU zoning provides flexibility for various commercial applications.
- 2,963 sq ft office building (3426 Canal) with recent upgrades including a full sprinkler system, terracotta roof (post‑Katrina), new sewerage line, and ADA accessibility.
- Opportunity to purchase properties separately, as a package (3420‑26 Canal), or as part of a larger Canal Street portfolio.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,001
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,020
$880.0K
Cap Rate 7%
$628,586
$628.6K
Cap Rate 9%
$488,900
$488.9K
Market Conditions
NOI Build-Up for 2,963 SF
Gross rent
$71.1K $24.00/SF
− Vacancy
−$12.4K −$4.20/SF
EGI
$58.7K $19.80/SF
− OpEx
−$14.7K −$4.95/SF
NOI
$44.0K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,020
Cap Rate 7%
$628,586
Cap Rate 9%
$488,900
Alternative Uses
Best Use
Office B
$628.6K
$550.0K – $733.4K
NOI $44,001 @ 7.0% cap · market cap 3.52%
Second Best
Warehouse
$340.4K
$297.9K – $397.2K
NOI $23,831 @ 7.0% cap · market cap 1.91%
Theoretical Best
Office A
$775.3K
$678.4K – $904.6K
NOI $54,273 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
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
$359,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Office buildings in New Orleans, LA
Properties on Market for Office buildings in New Orleans
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office building - Office building with off-street parking and commercial zoning.
Where is this office building located?
The property is located at 3420 CANAL Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: HU‑MU zoning provides flexibility for various commercial applications.; 2,963 sq ft office building (3426 Canal) with recent upgrades including a full sprinkler system, terracotta roof (post‑Katrina), new sewerage line, and ADA accessibility.; Opportunity to purchase properties separately, as a package (3420‑26 Canal), or as part of a larger Canal Street portfolio.
