Office Building With
For Sale
$445,000
627 Opelousas Ave, New Orleans, LA 70114
Flexible layout combines collaborative rooms, private offices, and a bright multipurpose area for varied commercial uses.
Property Size2,266 SF
Price / SF$196.38
Days on Market96
Property Features for 627 Opelousas Ave
General Information
Standard status
Active
Size
2,266 SF
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Homesmart Realty South
Listed By:
Vanessa Parnell · License #000018598
(504) 421-1919
Source:
Fiorellaavenue
Added: Jul 13
Changed: Oct 11
Last Checked: Oct 15 at 1:26AM
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 Homesmart Realty South
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Investment Insights
Based on property information with market context.
This 2,266-square-foot office building provides a varied layout suited to organizations needing both shared and private work areas. The interior includes a multipurpose room with elevated ceilings, abundant natural light, and an upstairs loft, along with two conference rooms, several smaller offices, a breakroom, one full bathroom, and two half bathrooms. Conference-room tables, chairs, and smart-screen televisions are in place, with furniture available separately.
Constructed in 1972, the property has a roof that is 4 years old and an HVAC system that is 5 years old. It is designated as being in an X flood zone, and the flood policy is transferable. The building was previously used as a residence and may be converted back to a five-bedroom home, providing an alternative configuration for the property.
Constructed in 1972, the property has a roof that is 4 years old and an HVAC system that is 5 years old. It is designated as being in an X flood zone, and the flood policy is transferable. The building was previously used as a residence and may be converted back to a five-bedroom home, providing an alternative configuration for the property.
Key Highlights
- 2,266 SF office building with multipurpose room, conference rooms, private offices, and loft
- Multipurpose room features high ceilings, natural light, and an upstairs loft
- Two conference rooms include smart‑screen TVs, tables, and chairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,401
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$668,020
$668.0K
Cap Rate 7%
$477,157
$477.2K
Cap Rate 9%
$371,122
$371.1K
Market Conditions
NOI Build-Up for 2,266 SF
Gross rent
$51.7K $22.80/SF
− Vacancy
−$7.1K −$3.15/SF
EGI
$44.5K $19.65/SF
− OpEx
−$11.1K −$4.91/SF
NOI
$33.4K $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%
$668,020
Cap Rate 7%
$477,157
Cap Rate 9%
$371,122
Alternative Uses
Best Use
Office B
$477.2K
$417.5K – $556.7K
NOI $33,401 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$575.9K
$504.0K – $671.9K
NOI $40,316 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office building - Flexible layout combines collaborative rooms, private offices, and a bright multipurpose area for varied commercial uses.
Where is this office building located?
The property is located at 627 Opelousas Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,266 SF office building with multipurpose room, conference rooms, private offices, and loft; Multipurpose room features high ceilings, natural light, and an upstairs loft; Two conference rooms include smart‑screen TVs, tables, and chairs
