Medical Office
New
For Sale
Contact for pricing
3600 PRYTANIA STREET, New Orleans, LA 70115
Four third-floor suites support separate ownership, combination purchases, or a unified medical office configuration.
Property Size6,611 SF
Price / SF$155.04
Days on Market7
Property Features for 3600 PRYTANIA STREET
General Information
Standard status
Active
Size
6,611 SF
Net Rentable
6,611 SF
Property subtype
OFFICE
Additional Details
Floor
3
Office Units
4
Amenities
connected garage parking
enclosed access to adjacent Touro Hospital campus
Listing Agency:
Beau Box Commercial Real Estate New Orleans
(504) 265-2000
Listed By:
Jordan Johnson · License #995683431
(504) 265-2000
Source:
Moodyscre
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 12:40PM
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 Beau Box Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
The offering includes four third-floor medical office condominiums at 3600 Prytania Street, totaling approximately 6,611 RSF. Suite 319 contains 912 RSF, Suites 320A and 320B together comprise 3,561 RSF, and Suite 321 provides 2,138 RSF. The units may be acquired separately, in selected groupings, or together as one portfolio.
Suites 319, 320B, and 321 are vacant. Suite 320A is occupied by a medical tenant under a lease running through September 30, 2027. Connected garage parking and enclosed access to the adjacent Touro Hospital campus are part of the building’s practical infrastructure. The property is situated within the Touro medical corridor in New Orleans, providing a healthcare-oriented setting for medical office ownership or occupancy.
Suites 319, 320B, and 321 are vacant. Suite 320A is occupied by a medical tenant under a lease running through September 30, 2027. Connected garage parking and enclosed access to the adjacent Touro Hospital campus are part of the building’s practical infrastructure. The property is situated within the Touro medical corridor in New Orleans, providing a healthcare-oriented setting for medical office ownership or occupancy.
Key Highlights
- Four third‑floor medical office condominiums totaling approximately 6,611 RSF
- Suite sizes include 912 RSF, 3,561 RSF across Suites 320A and 320B, and 2,138 RSF
- Suites 319, 320B, and 321 are vacant
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
$77,738
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
7.58%
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%
$1,554,760
$1.6M
Cap Rate 7%
$1,110,543
$1.1M
Cap Rate 9%
$863,756
$863.8K
Market Conditions
NOI Build-Up for 6,611 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
$117.4K $17.76/SF
− Vacancy
−$13.8K −$2.08/SF
EGI
$103.7K $15.68/SF
− OpEx
−$25.9K −$3.92/SF
NOI
$77.7K $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 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%
$1,554,760
Cap Rate 7%
$1,110,543
Cap Rate 9%
$863,756
Alternative Uses
Best Use
Office B
$1.11M
$971.7K – $1.30M
NOI $77,738 @ 7.0% cap · market cap 7.58%
Second Best
Healthcare Medical
$957.4K
$837.8K – $1.12M
NOI $67,020 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,092 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
2,884
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
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?
Medical Office Space - Four third-floor suites support separate ownership, combination purchases, or a unified medical office configuration.
Where is this medical office space located?
The property is located at 3600 PRYTANIA STREET New Orleans, LA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Four third‑floor medical office condominiums totaling approximately 6,611 RSF; Suite sizes include 912 RSF, 3,561 RSF across Suites 320A and 320B, and 2,138 RSF; Suites 319, 320B, and 321 are vacant
