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 Market51
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
(504) 421-1919
Listed By:
Vanessa Parnell · License #000018598
Source:
Fiorellaavenue
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 31 at 7:46PM
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
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 = 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
$33,401
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
7.51%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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?
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
