Historic Office Building For
616 Girod St, New Orleans, LA 70130
Three-story historic building in downtown New Orleans, ideal for redevelopment.
Type:Office
Property size:
10,300 SFPrice / SF:
$235/SF- Added:
- Nov 27, 2023
- Days on Market:
- 918
- Last Refresh:
- May 12 at 10:55 pm
Property Features for 616 Girod St
General Information
- Standard status
- Active
- Size
- 10,300 SF
- Property subtype
- Office
Building Details
- Year Built
- 1873
Listing agent William Sadler License #LA SALE.0995692597-ACT
Listing office Corporate Realty
Listing date Nov 27, 2023
Source Crexi
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
HighLights
- Highly desirable central downtown New Orleans location.
- Proximity to federal buildings, Lafayette Square Park, and the U.S. Court of Appeals.
- Half a block from both uptown and downtown St. Charles streetcars.
- Close to hotels, restaurants, Class A office towers, and the Warehouse District.
- Excellent condition.
- Exceptional opportunity for owner/user for office or redevelopment.
Overview
This three-story historic building is located on the corner of Girod and Church streets in downtown New Orleans. Its central location places it directly across from the F. Edward Hebert Federal Building and near Lafayette Square Park, the Hale Boggs Federal Building, and the U.S. Court of Appeals. The property is situated half a block from both the uptown and downtown St. Charles streetcars and is close to hotels, restaurants, Class A office towers, and the Warehouse District art galleries and museums. The building is in excellent condition and offers 10,300 square feet of space. This property presents an opportunity for an owner-user for office use or redevelopment.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.8k | $22.80 |
| − Vacancy | −$32.4k | −$3.15 |
| EGI | $202.4k | $19.65 |
| − OpEx | −$50.6k | −$4.91 |
| NOI | $151.8k | $14.74 |
10,300 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,824 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,254 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Courington Kiefer & Sommers
Law Firm
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.070632
- Latitude
- 29.947113
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Three-story historic building in downtown New Orleans, ideal for redevelopment.
Where is this office building located?
The property is located at 616 Girod St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,430,000.
What are key features of this property?
This property features: Highly desirable central downtown New Orleans location.; Proximity to federal buildings, Lafayette Square Park, and the U.S. Court of Appeals.; Half a block from both uptown and downtown St. Charles streetcars.
