Renovated Cold Storage
New
For Sale
$2,450,000
5900 S FRONT Street, New Orleans, LA 70115
Renovated facility combines production, freezer, cooler, warehouse, and office areas.
Property Size15,806 SF
Days on Market3
Property Features for 5900 S FRONT Street
General Information
Standard status
Active
Size
15,806 SF
Building Details
Building Size
15,806 SF
Year Built
1930
Listing Agency:
Ben & Burka
Listed By:
Aaron Kazanoff · License #0995700882
(504) 301-1002
Source:
Talbot-realty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 5:16AM
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 Ben & Burka
Investment Insights
Based on property information with market context.
This refrigerated and cold storage property includes multiple production areas, freezer and cooler rooms, ventilation systems, conditioned warehouse space, and finished offices. The improvements include a new boiler, high ceilings, four truck wells, and off-street parking for ±20 vehicles. The ground floor contains 12,086 SF, while the second floor provides 2,880 SF of office space and an 840 SF boiler room. The building was constructed in 1930 and has been recently renovated.
The 21,305 SF site is in Uptown, backs up to the Port of New Orleans and rail yard, and offers access through Tchoupitoulas Street. MI zoning supports restaurant, warehouse, manufacturing, commissary, bar, office, distribution, brewery, and other uses. The property is also near Manning Family Children’s Hospital, Aldi, Petco, restaurants, and additional retail destinations.
The 21,305 SF site is in Uptown, backs up to the Port of New Orleans and rail yard, and offers access through Tchoupitoulas Street. MI zoning supports restaurant, warehouse, manufacturing, commissary, bar, office, distribution, brewery, and other uses. The property is also near Manning Family Children’s Hospital, Aldi, Petco, restaurants, and additional retail destinations.
Key Highlights
- 12,086 SF ground floor plus 2,880 SF of second‑floor office space
- 840 SF boiler room with a new boiler
- Freezer and cooler rooms, production areas, and ventilation systems
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
$114,870
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
4.69%
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%
$2,297,400
$2.3M
Cap Rate 7%
$1,641,000
$1.6M
Cap Rate 9%
$1,276,333
$1.3M
Market Conditions
NOI Build-Up for 15,806 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
$142.3K $9.00/SF
− Vacancy
−$7.1K −$0.45/SF
EGI
$135.1K $8.55/SF
− OpEx
−$20.3K −$1.28/SF
NOI
$114.9K $7.27/SF
Area
ZIP 70115
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,297,400
Cap Rate 7%
$1,641,000
Cap Rate 9%
$1,276,333
Alternative Uses
Best Use
Warehouse
$1.64M
$1.44M – $1.91M
NOI $114,870 @ 7.0% cap · market cap 4.69%
Second Best
Industrial
$1.35M
$1.18M – $1.58M
NOI $94,599 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$4.17M
$3.65M – $4.87M
NOI $291,905 @ 7.0% cap · market cap 11.91%
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
1,222
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Refrigerated & cold storage - Renovated facility combines production, freezer, cooler, warehouse, and office areas.
Where is this refrigerated & cold storage located?
The property is located at 5900 S FRONT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 12,086 SF ground floor plus 2,880 SF of second‑floor office space; 840 SF boiler room with a new boiler; Freezer and cooler rooms, production areas, and ventilation systems
