Four-Story Historic Office
For Sale
$3,750,000
Pending
4176 Canal St, New Orleans, LA 70119
Elevator service reaches every floor, with surface parking and transit access along the Canal Streetcar Line.
Property Size18,328 SF
Days on Market118
Property Features for 4176 Canal St
General Information
Standard status
Pending
Size
18,328 SF
Elevators
Yes
Property subtype
Office
Zoning
HU-MU
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1949
Buildings
1
Stories
4
Listing Agency:
The McEnery Company Inc
(504) 236-9542
Listed By:
S. McEnery
(504) 236-9542
Source:
Lacdb.resimplifi
Added: May 6
Changed: Aug 29
Last Checked: Aug 30 at 1:12PM
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 The McEnery Company Inc
Investment Insights
Based on property information with market context.
Built in 1949, this four-story office property contains 18,328 square feet with an efficient floorplate and elevator access to every level. Recent property upgrades include Daikin ductless HVAC systems, a resealed roof, and improvements to the common areas. Surface parking is available, and the building is zoned HU-MU.
The property is located at 4176 Canal Street in New Orleans along the Canal Streetcar Line, providing direct public transit access. I-10 and the Pontchartrain Expressway offer connections to the broader road network. A nearby parking tract is also available as part of the offering.
The property is located at 4176 Canal Street in New Orleans along the Canal Streetcar Line, providing direct public transit access. I-10 and the Pontchartrain Expressway offer connections to the broader road network. A nearby parking tract is also available as part of the offering.
Key Highlights
- 18,328‑square‑foot office building constructed in 1949
- Four‑story configuration with elevator access to all levels
- Daikin ductless HVAC systems, resealed roof, and upgraded common areas
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
$272,171
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
7.26%
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%
$5,443,420
$5.4M
Cap Rate 7%
$3,888,157
$3.9M
Cap Rate 9%
$3,024,122
$3.0M
Market Conditions
NOI Build-Up for 18,328 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
$439.9K $24.00/SF
− Vacancy
−$77.0K −$4.20/SF
EGI
$362.9K $19.80/SF
− OpEx
−$90.7K −$4.95/SF
NOI
$272.2K $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%
$5,443,420
Cap Rate 7%
$3,888,157
Cap Rate 9%
$3,024,122
Alternative Uses
Best Use
Office B
$3.89M
$3.40M – $4.54M
NOI $272,171 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $335,710 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway 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 - Elevator service reaches every floor, with surface parking and transit access along the Canal Streetcar Line.
Where is this office building located?
The property is located at 4176 Canal St New Orleans, LA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 18,328‑square‑foot office building constructed in 1949; Four‑story configuration with elevator access to all levels; Daikin ductless HVAC systems, resealed roof, and upgraded common areas
