Multi-Tenant Office
For Sale
$899,000
3727 Canal St, New Orleans, LA 70119
Two-story office building offers existing tenant space plus three additional leasable office areas.
Property Size4,894 SF
Price / SF$183.69
Days on Market101
Property Features for 3727 Canal St
General Information
Standard status
Active
Size
4,894 SF
Property subtype
Office
Zoning
HU-MU
Additional Details
Office Units
4
Amenities
Power
Water
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
French Quarter Realty
Listed By:
George Jeansonne · License #995687377
(504) 616-0990
Source:
Lacdb.resimplifi
Added: Jun 1
Changed: Sep 8
Last Checked: Sep 7 at 12:43PM
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 French Quarter Realty
Investment Insights
Based on property information with market context.
This two-story multi-tenant office building includes an established tenant space and three additional, leasable office units. The versatile floorplan is designed to support different tenant configurations within the building.
The property is located along the Canal Street corridor and is described as providing ample nearby parking for tenants and visitors. The surrounding area includes established businesses, including law firms, Schoen Funeral Home, Mandina’s Restaurant, and Parkway Tavern.
With HU-MU zoning, the building is positioned to accommodate a range of office and other commercial uses, depending on tenant needs and applicable requirements.
The property is located along the Canal Street corridor and is described as providing ample nearby parking for tenants and visitors. The surrounding area includes established businesses, including law firms, Schoen Funeral Home, Mandina’s Restaurant, and Parkway Tavern.
With HU-MU zoning, the building is positioned to accommodate a range of office and other commercial uses, depending on tenant needs and applicable requirements.
Key Highlights
- Two‑story multi‑tenant office building with an existing tenant space plus three additional leasable office areas
- HU‑MU zoning offers a range of potential office and commercial uses
- Versatile floorplan designed for different tenants or businesses
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
$72,676
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
8.08%
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%
$1,453,520
$1.5M
Cap Rate 7%
$1,038,229
$1.0M
Cap Rate 9%
$807,511
$807.5K
Market Conditions
NOI Build-Up for 4,894 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
$117.5K $24.00/SF
− Vacancy
−$20.6K −$4.20/SF
EGI
$96.9K $19.80/SF
− OpEx
−$24.2K −$4.95/SF
NOI
$72.7K $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%
$1,453,520
Cap Rate 7%
$1,038,229
Cap Rate 9%
$807,511
Alternative Uses
Best Use
Office B
$1.04M
$908.5K – $1.21M
NOI $72,676 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,642 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,221
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building offers existing tenant space plus three additional leasable office areas.
Where is this office building located?
The property is located at 3727 Canal St New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑story multi‑tenant office building with an existing tenant space plus three additional leasable office areas; HU‑MU zoning offers a range of potential office and commercial uses; Versatile floorplan designed for different tenants or businesses
