Renovated Two-Building Flex
For Sale
Contact for pricing
4321 South Claiborne Avenue, New Orleans, LA 70125
Two adjoining structures provide adaptable open layouts, updated building systems, and access to a dense commercial corridor.
Property Size3,813 SF
Price / SF$182.27
Days on Market12
Property Features for 4321 South Claiborne Avenue
General Information
Standard status
Active
Size
3,813 SF
Property subtype
Retail, Mixed Use
Zoning
MU-1
Lease Type
NNN
Additional Details
Road Access
Yes
Amenities
roll-up hurricane doors
floodlights
hanging exterior signage
LED lights
central HVAC
concrete floors
open floor plan
Building Details
Buildings
2
Units
1
Listing Agency:
Corporate Realty
(504) 587-1450
Listed By:
Jeff Cohn · License #LA
Source:
Crexi
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 31 at 9:02AM
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
Investment Insights
Based on property information with market context.
This flex space comprises a 3,358.5 sf primary building and a 454.5-sf rear structure, with both buildings operating together. The larger building includes roll-up hurricane doors, floodlights, hanging exterior signage, LED lighting, central HVAC, and concrete floors. The smaller structure has its own HVAC unit and entrance, with access through the main building. Both structures have been completely renovated, and the open interior arrangement can accommodate varied commercial configurations.
The property occupies a signalized intersection at Napoleon and South Claiborne avenues in New Orleans. It is within one block of Ochsner Hospital, Touro Imaging Center, and the Ochsner ob-gyn clinic on Claiborne. Nearby commercial users include national retailers, pharmacies, fast-food restaurants, Green Tea Restaurant, and a Verizon store. MU-1 zoning is also identified for the property.
The property occupies a signalized intersection at Napoleon and South Claiborne avenues in New Orleans. It is within one block of Ochsner Hospital, Touro Imaging Center, and the Ochsner ob-gyn clinic on Claiborne. Nearby commercial users include national retailers, pharmacies, fast-food restaurants, Green Tea Restaurant, and a Verizon store. MU-1 zoning is also identified for the property.
Key Highlights
- 3,358.5 sf primary freestanding building with roll‑up hurricane doors
- 454.5‑sf rear building with separate HVAC and entrance
- Both buildings have been completely renovated with LED lighting and concrete floors
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
$47,083
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
6.77%
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%
$941,660
$941.7K
Cap Rate 7%
$672,614
$672.6K
Cap Rate 9%
$523,144
$523.1K
Market Conditions
NOI Build-Up for 3,813 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
$68.6K $18.00/SF
− Vacancy
−$1.4K −$0.36/SF
EGI
$67.3K $17.64/SF
− OpEx
−$20.2K −$5.29/SF
NOI
$47.1K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$941,660
Cap Rate 7%
$672,614
Cap Rate 9%
$523,144
Alternative Uses
Best Use
Retail
$672.6K
$588.5K – $784.7K
NOI $47,083 @ 7.0% cap · market cap 6.77%
Second Best
Flex RnD
$516.4K
$451.9K – $602.5K
NOI $36,151 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$969.1K
$848.0K – $1.13M
NOI $67,840 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two adjoining structures provide adaptable open layouts, updated building systems, and access to a dense commercial corridor.
Where is this flex space located?
The property is located at 4321 South Claiborne Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3,358.5 sf primary freestanding building with roll‑up hurricane doors; 454.5‑sf rear building with separate HVAC and entrance; Both buildings have been completely renovated with LED lighting and concrete floors
