Commercial Land with Concrete
For Sale
$175,000
4037 N Galvez, New Orleans, LA 70117
HU-RD2-designated site with an existing solid concrete building and commercial storage potential.
Property Size1,324 SF
Price / SF$132.18
Days on Market26
Property Features for 4037 N Galvez
General Information
Standard status
Active
Size
1,324 SF
Listing Agency:
Realty Plus LLC
(225) 910-8240
Listed By:
Charlotte Word · License #995709181
Source:
Smithsquared
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 9:04PM
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 Realty Plus LLC
Investment Insights
Based on property information with market context.
This commercial land offering includes a 1,324 sq ft solid concrete building on an approximately 9,270 sq ft parcel. The structure consists of an approximately 28' x 28' main area with a 20' x 27' addition. The property is being conveyed strictly AS-IS, with vehicles and interior contents scheduled for removal before closing.
Located at 4037 N Galvez in New Orleans, the site has approximately 90 feet of frontage along N. Galvez St. It is situated within the Historic Urban Two-Family Residential District, identified as HU-RD2. The remarks identify potential applications including commercial storage, a laydown yard, workshop use, or mixed-use redevelopment; buyers are responsible for verifying utilities, zoning restrictions, and lot dimensions.
The adjoining parcel at 2112 Mazant St is also available separately and may support a combined acquisition.
Located at 4037 N Galvez in New Orleans, the site has approximately 90 feet of frontage along N. Galvez St. It is situated within the Historic Urban Two-Family Residential District, identified as HU-RD2. The remarks identify potential applications including commercial storage, a laydown yard, workshop use, or mixed-use redevelopment; buyers are responsible for verifying utilities, zoning restrictions, and lot dimensions.
The adjoining parcel at 2112 Mazant St is also available separately and may support a combined acquisition.
Key Highlights
- ~9,270 sq ft lot measuring approximately 0.21 acres
- ~90 feet of frontage along N. Galvez St
- 1,324 sq ft solid concrete building on‑site
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
$12,553
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
7.17%
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%
$251,060
$251.1K
Cap Rate 7%
$179,329
$179.3K
Cap Rate 9%
$139,478
$139.5K
Market Conditions
NOI Build-Up for 1,324 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
$20.7K $15.60/SF
− Vacancy
−$1.3K −$1.01/SF
EGI
$19.3K $14.59/SF
− OpEx
−$6.8K −$5.11/SF
NOI
$12.6K $9.48/SF
Area
New Orleans, LA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$251,060
Cap Rate 7%
$179,329
Cap Rate 9%
$139,478
Alternative Uses
Best Use
Flex RnD
$179.3K
$156.9K – $209.2K
NOI $12,553 @ 7.0% cap · market cap 7.17%
Second Best
Industrial
$120.7K
$105.7K – $140.9K
NOI $8,452 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$336.5K
$294.5K – $392.6K
NOI $23,556 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - HU-RD2-designated site with an existing solid concrete building and commercial storage potential.
Where is this commercial land located?
The property is located at 4037 N Galvez New Orleans, LA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: ~9,270 sq ft lot measuring approximately 0.21 acres; ~90 feet of frontage along N. Galvez St; 1,324 sq ft solid concrete building on‑site
