Open-Plan Retail
For Sale
$748,900
628 Baronne St, New Orleans, LA 70113
Commercial condominium with exposed brick, high ceilings, rear support space, and alley access.
Property Size3,468 SF
Price / SF$215.95
Days on Market475
Property Features for 628 Baronne St
General Information
Standard status
Active
Size
3,468 SF
Property subtype
Retail
Zoning
CBD-5
Additional Details
Frontage
45 ft
Amenities
exposed brick
high ceilings
track lighting
private office
restroom
rear storage/back-of-house area
alley access
Building Details
Year Built
1900
Listing Agency:
Talbot Realty Group
Listed By:
Chris Talbot · License #0000075986
(504) 319-1452
Source:
Lacdb.resimplifi
Added: May 22, 2025
Changed: Sep 7
Last Checked: Sep 7 at 2:55PM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
Unit C-1 is a 3,468-square-foot commercial condominium with an open, adaptable interior suited to retail, restaurant, gallery, or creative office use. The space includes exposed brick, high ceilings, track lighting, a private office, a restroom, and rear storage and back-of-house areas. Built in 1900, the property is zoned CBD-5 and offers 45 feet of frontage along Baronne Street.
Alley access supports deliveries and rear-of-house operations. The property is located in New Orleans’ Warehouse District near the South Market District, Lafayette Square, Emeril’s flagship restaurant, and the Virgin Hotel. It is also minutes from I-10, the Central Business District, and the French Quarter.
Alley access supports deliveries and rear-of-house operations. The property is located in New Orleans’ Warehouse District near the South Market District, Lafayette Square, Emeril’s flagship restaurant, and the Virgin Hotel. It is also minutes from I-10, the Central Business District, and the French Quarter.
Key Highlights
- 3,468 SF commercial condominium with an open, flexible layout
- 45 feet of street frontage on Baronne Street
- Exposed brick, high ceilings, and track lighting
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
$51,119
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
6.83%
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%
$1,022,380
$1.0M
Cap Rate 7%
$730,271
$730.3K
Cap Rate 9%
$567,989
$568.0K
Market Conditions
NOI Build-Up for 3,468 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
$79.1K $22.80/SF
− Vacancy
−$10.9K −$3.15/SF
EGI
$68.2K $19.65/SF
− OpEx
−$17.0K −$4.91/SF
NOI
$51.1K $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%
$1,022,380
Cap Rate 7%
$730,271
Cap Rate 9%
$567,989
Alternative Uses
Best Use
Office B
$730.3K
$639.0K – $852.0K
NOI $51,119 @ 7.0% cap · market cap 6.83%
Second Best
Retail
$611.8K
$535.3K – $713.7K
NOI $42,823 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,702 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,907
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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?
Retail space - Commercial condominium with exposed brick, high ceilings, rear support space, and alley access.
Where is this retail space located?
The property is located at 628 Baronne St New Orleans, LA.
What is the asking price?
The asking price for this property is $748,900.
What are key features of this property?
This property features: 3,468 SF commercial condominium with an open, flexible layout; 45 feet of street frontage on Baronne Street; Exposed brick, high ceilings, and track lighting
