Ground-Floor Storefront With Exposed
For Sale
$499,000
628 Baronne Street C-1, New Orleans, LA 70113
Warehouse District commercial condo with adaptable space for retail, office, gallery, or food and beverage operations.
Property Size3,468 SF
Price / SF$143.89
Days on Market38
Property Features for 628 Baronne Street C-1
General Information
Standard status
Active
Size
3,468 SF
Zoning
CBD-5
Site & Location
Frontage
45 ft
Highway Access
Yes
Additional Details
Floor
Ground
Amenities
high ceilings
exposed brick
private office
restroom
grease trap
rear storage area
alley access
Building Details
Tenancy
Single
Listing Agency:
Talbot Realty Group
(504) 319-1452
Listed By:
Christopher Talbot · License #000075986
Source:
Dominionplace
Added: Jul 26
Changed: Aug 30
Last Checked: Aug 31 at 7:50PM
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 ground-floor commercial condominium with approximately 3,468 SF of interior space and ±45 feet of frontage. The layout includes high ceilings, exposed brick, a private office, restroom, grease trap, and rear storage area. The property may support retail, office, gallery, or food and beverage use, subject to applicable requirements.
An alley provides access for deliveries, while the property carries CBD-5 zoning. The location at 628 Baronne Street places the space near the South Market District, Lafayette Square, and the French Quarter, with convenient access to I-10. The ownership interest is 22.81%.
An alley provides access for deliveries, while the property carries CBD-5 zoning. The location at 628 Baronne Street places the space near the South Market District, Lafayette Square, and the French Quarter, with convenient access to I-10. The ownership interest is 22.81%.
Key Highlights
- Approximately 3,468 SF of ground‑floor commercial space
- ±45 feet of frontage for retail or other commercial use
- High ceilings and exposed brick interior
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
$42,823
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
8.58%
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%
$856,460
$856.5K
Cap Rate 7%
$611,757
$611.8K
Cap Rate 9%
$475,811
$475.8K
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
$62.4K $18.00/SF
− Vacancy
−$1.2K −$0.36/SF
EGI
$61.2K $17.64/SF
− OpEx
−$18.4K −$5.29/SF
NOI
$42.8K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$856,460
Cap Rate 7%
$611,757
Cap Rate 9%
$475,811
Alternative Uses
Best Use
Retail
$611.8K
$535.3K – $713.7K
NOI $42,823 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,702 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
10,907
Businesses Nearby
410k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 67%
Groceries 12%
Dining 9%
Shops & Services 8%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.5 miles
Rouses Market
Groceries
49,050 visits/mo
0.1 miles
Exxon
Shops & Services
24,253 visits/mo
0.4 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.3 miles
Hotel Fontenot
Hotels & Casinos
20,339 visits/mo
0.4 miles
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 Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Warehouse District commercial condo with adaptable space for retail, office, gallery, or food and beverage operations.
Where is this storefront property located?
The property is located at 628 Baronne Street C-1 New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 3,468 SF of ground‑floor commercial space; ±45 feet of frontage for retail or other commercial use; High ceilings and exposed brick interior
