Two-Story Office
For Sale
$800,000
4162-4164 Canal St, New Orleans, LA 70119
Fully leased office property with separate entrances, private offices, and shared support areas on both floors.
Property Size3,878 SF
Price / SF$206.29
Days on Market396
Property Features for 4162-4164 Canal St
General Information
Standard status
Active
Size
3,878 SF
Total Parking Spaces
3
Property subtype
Office
Zoning
HU-MU
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Amenities
kitchenette
waiting area
kitchen
balcony
3 Parking Spaces
Building Details
Buildings
2
Stories
2
Listing Agency:
Corporate Realty - Canal Place
(504) 587-1450
Listed By:
Andrea Huseman · License #SALE.0000033384-ACT
(504) 587-1450
Source:
Lacdb.resimplifi
Added: Aug 1, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:36PM
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 Corporate Realty - Canal Place
Investment Insights
Based on property information with market context.
This fully leased office building contains 3,878 square feet across two floors. Each level has an independent entrance, private offices, and two restrooms. The ground floor includes a kitchenette and waiting area, while the upper level provides a kitchen and balcony. The HVAC system was fully replaced in the 3rd quarter of 2025.
A detached rear structure includes a non-air-conditioned storage room that is included in the sale but excluded from the rentable area. The property is located on Canal Street near Carrollton Avenue, with access to the streetcar line, Orleans Parish bus stops, I-10, the Pontchartrain Expressway, the Medical District, CBD, City Park, Metairie, and Mid-City Market. Zoning is HU-MU.
A detached rear structure includes a non-air-conditioned storage room that is included in the sale but excluded from the rentable area. The property is located on Canal Street near Carrollton Avenue, with access to the streetcar line, Orleans Parish bus stops, I-10, the Pontchartrain Expressway, the Medical District, CBD, City Park, Metairie, and Mid-City Market. Zoning is HU-MU.
Key Highlights
- 3,878‑square‑foot office building with two floors of leased space
- Fully leased property with separate entrances for the first and second floors
- Private offices and two restrooms on each floor
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
$57,588
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
7.20%
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%
$1,151,760
$1.2M
Cap Rate 7%
$822,686
$822.7K
Cap Rate 9%
$639,867
$639.9K
Market Conditions
NOI Build-Up for 3,878 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
$93.1K $24.00/SF
− Vacancy
−$16.3K −$4.20/SF
EGI
$76.8K $19.80/SF
− OpEx
−$19.2K −$4.95/SF
NOI
$57.6K $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%
$1,151,760
Cap Rate 7%
$822,686
Cap Rate 9%
$639,867
Alternative Uses
Best Use
Office B
$822.7K
$719.9K – $959.8K
NOI $57,588 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,033 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,967
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 - Fully leased office property with separate entrances, private offices, and shared support areas on both floors.
Where is this office building located?
The property is located at 4162-4164 Canal St 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: 3,878‑square‑foot office building with two floors of leased space; Fully leased property with separate entrances for the first and second floors; Private offices and two restrooms on each floor
