Office Building with ADA
For Sale
$800,000
3426 Canal Street, New Orleans, LA 70119
ADA-accessible office building with sprinkler system and flexible HU-MU zoning on Canal Street streetcar line.
Property Size2,963 SF
Price / SF$269
Days on Market85
Property Features for 3426 Canal Street
General Information
Standard status
Active
Size
2,963 SF
Property subtype
Commercial
Zoning
HU-MU
Additional Details
Sprinkler System
Yes
Building Details
Building Size
2,963 SF
Year Built
1900
Listing Agency:
Southeast Commercial Of Ms, LLC
(504) 339-2136
Listed By:
Matthew Eaton · License #0000072493
(504) 339-2136
Source:
Nolalivingrealty
Added: Jun 1
Changed: Aug 23
Last Checked: Aug 23 at 4:02PM
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.
3426 Canal Street is a 2,963-square-foot office building featuring a full sprinkler system and ADA-compliant access, including an ADA ramp and related accessibility features. The property also includes a terracotta roof installed after Hurricane Katrina and a recently replaced sewer line, supporting continued day-to-day operational reliability.
Located in the heart of Mid-City New Orleans, the building sits on Canal Street directly on the streetcar line. This setting provides strong visibility and practical accessibility for a mix of professional office users and nearby neighborhood amenities.
Zoned HU-MU (Historic Urban Mixed-Use), the property offers flexibility for a range of office, professional, and commercial uses. For tenants, it presents an office-ready environment with key building systems in place, along with ADA accommodations that can simplify workplace access. For buyers, the HU-MU zoning classification can support ownership strategies aligned with office or commercial occupancy within the broader mixed-use framework described for this site.
Located in the heart of Mid-City New Orleans, the building sits on Canal Street directly on the streetcar line. This setting provides strong visibility and practical accessibility for a mix of professional office users and nearby neighborhood amenities.
Zoned HU-MU (Historic Urban Mixed-Use), the property offers flexibility for a range of office, professional, and commercial uses. For tenants, it presents an office-ready environment with key building systems in place, along with ADA accommodations that can simplify workplace access. For buyers, the HU-MU zoning classification can support ownership strategies aligned with office or commercial occupancy within the broader mixed-use framework described for this site.
Key Highlights
- 2,963 SF office building on Canal Street in Mid‑City New Orleans
- Located on the Canal Street streetcar line with ADA‑compliant access, including an ADA ramp
- Full sprinkler system in place
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
$44,001
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
5.50%
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%
$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
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
$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 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%
$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 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$775.3K
$678.4K – $904.6K
NOI $54,273 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
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
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - ADA-accessible office building with sprinkler system and flexible HU-MU zoning on Canal Street streetcar line.
Where is this office building located?
The property is located at 3426 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,963 SF office building on Canal Street in Mid‑City New Orleans; Located on the Canal Street streetcar line with ADA‑compliant access, including an ADA ramp; Full sprinkler system in place
