Fenced Flex Space with
For Sale
$275,000
6110 Saint Claude Ave, New Orleans, LA 70117
Secured commercial property with warehouse functionality, a separate living unit, and flexible HU-MU zoning.
Property Size735 SF
Lot Size0.12 Acres
Price / SF$374.15
Days on Market193
Property Features for 6110 Saint Claude Ave
General Information
Standard status
Active
Size
735 SF
Lot size
0.12 Acres
Zoning
HU-MU
Warehouse & Industrial
Clear Height
14 ft
Warehouse Space
2,840 SF
Additional Details
Fenced Yard
Yes
Listing Agency:
Corporate Realty Realty Leasing Company, Inc.
(504) 236-7507
Listed By:
Sydney Anderson · License #995682176
(504) 236-7507
Source:
Exprealty
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 7:44PM
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 Realty Leasing Company, Inc.
Investment Insights
Based on property information with market context.
This flex-space property combines a 2,840-square-foot warehouse building with an attached 735-square-foot, one-bedroom residential unit, creating 3,575 square feet of total warehouse and residential space. The main structure offers an open layout, 14-foot ceilings, two storage areas, a bathroom, and a roll-up door. The rear unit has a separate entrance, an open living and kitchen area, and natural light.
The 42-by-120-foot parcel is fully fenced and includes a gated, paved driveway extending along the site with parking for multiple vehicles. A grassy area occupies the rear portion of the lot. Located at 6110 Saint Claude Ave in New Orleans’ Holy Cross neighborhood, the property is zoned HU-MU and has operated as a general contractor workshop since 2014.
The 42-by-120-foot parcel is fully fenced and includes a gated, paved driveway extending along the site with parking for multiple vehicles. A grassy area occupies the rear portion of the lot. Located at 6110 Saint Claude Ave in New Orleans’ Holy Cross neighborhood, the property is zoned HU-MU and has operated as a general contractor workshop since 2014.
Key Highlights
- 2,840‑square‑foot main warehouse with 14‑foot ceilings and roll‑up door
- Attached 735‑square‑foot, one‑bedroom unit with private entrance
- 3,575 square feet of combined warehouse and residential space
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
$10,834
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
3.94%
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%
$216,680
$216.7K
Cap Rate 7%
$154,771
$154.8K
Cap Rate 9%
$120,378
$120.4K
Market Conditions
NOI Build-Up for 735 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
$16.8K $22.80/SF
− Vacancy
−$2.3K −$3.15/SF
EGI
$14.4K $19.65/SF
− OpEx
−$3.6K −$4.91/SF
NOI
$10.8K $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%
$216,680
Cap Rate 7%
$154,771
Cap Rate 9%
$120,378
Alternative Uses
Best Use
Office B
$154.8K
$135.4K – $180.6K
NOI $10,834 @ 7.0% cap · market cap 3.94%
Second Best
Mixed Use
$141.8K
$124.0K – $165.4K
NOI $9,923 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$186.8K
$163.5K – $218.0K
NOI $13,077 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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?
Flex space - Secured commercial property with warehouse functionality, a separate living unit, and flexible HU-MU zoning.
Where is this flex space located?
The property is located at 6110 Saint Claude Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,840‑square‑foot main warehouse with 14‑foot ceilings and roll‑up door; Attached 735‑square‑foot, one‑bedroom unit with private entrance; 3,575 square feet of combined warehouse and residential space
