Spacious School
For Sale
Contact for pricing
5951 Patton St, New Orleans, LA 70118
Large school facility on a generous lot offering flexible configuration for multiple use types.
Property Size29,000 SF
Price / SF$0.34
Days on Market506
Property Features for 5951 Patton St
General Information
Standard status
Active
Size
29,000 SF
Property subtype
Office
Lease Type
Net
Listing Agency:
Don Randon Real Estate Inc
Listed By:
Randy Argote
(504) 388-4669
Source:
Lacdb.resimplifi
Added: Jun 1, 2025
Changed: Oct 4
Last Checked: Oct 19 at 3:13AM
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 Don Randon Real Estate Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This spacious school facility totals approximately 29,000 square feet and is set on a generous lot. The property offers flexible configurations intended to support a range of possibilities, including educational use, creative office and coworking, nonprofit use, residential use, or redevelopment.
Located at 5951 Patton St in Uptown New Orleans, the offering is described as being in the Audubon Riverside neighborhood.
The building’s size and adaptable layout are positioned to accommodate varied operating formats, subject to applicable approvals for the intended end use.
Located at 5951 Patton St in Uptown New Orleans, the offering is described as being in the Audubon Riverside neighborhood.
The building’s size and adaptable layout are positioned to accommodate varied operating formats, subject to applicable approvals for the intended end use.
Key Highlights
- Approximately 29,000 SF school facility in New Orleans’ Audubon Riverside neighborhood
- Large school building on a generous lot
- Flexible configurations for educational, creative office/co‑working, nonprofit, residential, or redevelopment use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$427,466
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,549,320
$8.5M
Cap Rate 7%
$6,106,657
$6.1M
Cap Rate 9%
$4,749,622
$4.7M
Market Conditions
NOI Build-Up for 29,000 SF
Gross rent
$661.2K $22.80/SF
− Vacancy
−$91.2K −$3.15/SF
EGI
$570.0K $19.65/SF
− OpEx
−$142.5K −$4.91/SF
NOI
$427.5K $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 Rate 5%
$8,549,320
Cap Rate 7%
$6,106,657
Cap Rate 9%
$4,749,622
Alternative Uses
Best Use
Office B
$6.11M
$5.34M – $7.12M
NOI $427,466 @ 7.0% cap · market cap 4,274.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.37M
$6.45M – $8.60M
NOI $515,959 @ 7.0% cap · market cap 5,159.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,400
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
School - Large school facility on a generous lot offering flexible configuration for multiple use types.
Where is this school located?
The property is located at 5951 Patton St New Orleans, LA.
What are key features of this property?
This property features: Approximately 29,000 SF school facility in New Orleans’ Audubon Riverside neighborhood; Large school building on a generous lot; Flexible configurations for educational, creative office/co‑working, nonprofit, residential, or redevelopment use
