Raised Flex Space with
For Sale
$789,000
3523 Tchoupitoulas St, New Orleans, LA 70115
Upper-level office and residential areas sit above covered parking and warehouse space in a mixed-use commercial configuration.
Property Size5,835 SF
Price / SF$135.22
Days on Market59
Property Features for 3523 Tchoupitoulas St
General Information
Standard status
Active
Size
5,835 SF
Property subtype
Office
Zoning
HU-MU
Warehouse & Industrial
Warehouse Space
3,400 SF
Drive-In Doors
1
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
1910
Year Renovated
2022
Stories
2
Listing Agency:
Sunshine Brokers
Listed By:
Robert Brent · License #000053159
(504) 236-8069
Source:
Lacdb.resimplifi
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 14 at 7:50PM
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 Sunshine Brokers
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Investment Insights
Based on property information with market context.
This flex-space property combines an elevated office and residential component with warehouse and covered parking below. The upper level measures 2435 ft² and includes an office, five bedrooms, and four bathrooms. The lower level provides 3400 ft² of warehouse and parking area, along with a full bathroom. A vehicle-accessible garage door allows approximately five cars to be stored beneath the structure.
The original building dates to 1910, with an addition completed in 2022. The home is raised 9 feet above Sea Level and is located in Flood Zone X. HU-MU zoning supports the property’s mixed-use configuration. The property is being sold with neighboring 117 Foster Street.
The original building dates to 1910, with an addition completed in 2022. The home is raised 9 feet above Sea Level and is located in Flood Zone X. HU-MU zoning supports the property’s mixed-use configuration. The property is being sold with neighboring 117 Foster Street.
Key Highlights
- 2435 ft² upper‑level office and residential area
- 3400 ft² warehouse and covered parking area below
- Vehicle‑accessible garage accommodates approximately five cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,613
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,372,260
$1.4M
Cap Rate 7%
$980,186
$980.2K
Cap Rate 9%
$762,367
$762.4K
Market Conditions
NOI Build-Up for 5,835 SF
Gross rent
$103.6K $17.76/SF
− Vacancy
−$12.1K −$2.08/SF
EGI
$91.5K $15.68/SF
− OpEx
−$22.9K −$3.92/SF
NOI
$68.6K $11.76/SF
Area
ZIP 70115
Vacancy
11.72%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,372,260
Cap Rate 7%
$980,186
Cap Rate 9%
$762,367
Alternative Uses
Best Use
Office B
$980.2K
$857.7K – $1.14M
NOI $68,613 @ 7.0% cap · market cap 8.70%
Second Best
Flex RnD
$777.6K
$680.4K – $907.2K
NOI $54,434 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,761 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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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?
Flex space - Upper-level office and residential areas sit above covered parking and warehouse space in a mixed-use commercial configuration.
Where is this flex space located?
The property is located at 3523 Tchoupitoulas St New Orleans, LA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 2435 ft² upper‑level office and residential area; 3400 ft² warehouse and covered parking area below; Vehicle‑accessible garage accommodates approximately five cars
