Canal Street Leased Office
For Sale
Contact for pricing
4164 Canal St, New Orleans, LA
Leased office building on Canal Street with storage.
Property Size3,878 SF
Lot Size0.14 Acres
Price / SF$206.29
Days on Market311
Property Features for 4164 Canal St
General Information
Standard status
Active
Size
3,878 SF
Lot size
0.14 Acres
Property subtype
OFFICE
Listing Agency:
Corporate Realty - Canal Place
(504) 587-1450
Listed By:
Andrea A Huseman, CCIM · License #SALE.0000033384-ACT
(504) 296-5641
Source:
Moodyscre
Added: Nov 4, 2025
Changed: Aug 22
Last Checked: Sep 11 at 6:28AM
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.
The property is fully leased, with office space on both the first and second floors. A non-air conditioned storage room is located in a detached rear building; this space is included in the sale but is not part of the rentable area. Situated on Canal Street near Carrollton Avenue, the property benefits from convenient access to the streetcar line and major bus stops. Its location also provides easy access to I-10, the Medical District, the Central Business District, City Park, and Mid-City Market. The property size is 3878 square feet.
Key Highlights
- Fully leased property provides immediate rental income.
- Prime location on Canal Street near Carrollton Avenue offers excellent accessibility.
- Convenient access to the streetcar line, major bus stops, and I‑10.
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
$57,162
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
7.15%
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%
$1,143,240
$1.1M
Cap Rate 7%
$816,600
$816.6K
Cap Rate 9%
$635,133
$635.1K
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
$88.4K $22.80/SF
− Vacancy
−$12.2K −$3.15/SF
EGI
$76.2K $19.65/SF
− OpEx
−$19.1K −$4.91/SF
NOI
$57.2K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /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%
$1,143,240
Cap Rate 7%
$816,600
Cap Rate 9%
$635,133
Alternative Uses
Best Use
Office B
$816.6K
$714.5K – $952.7K
NOI $57,162 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$985.7K
$862.5K – $1.15M
NOI $68,996 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,967
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Business Placement
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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?
Office building - Leased office building on Canal Street with storage.
Where is this office building located?
The property is located at 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: Fully leased property provides immediate rental income.; Prime location on Canal Street near Carrollton Avenue offers excellent accessibility.; Convenient access to the streetcar line, major bus stops, and I‑10.
