Automotive Property with Repair
For Sale
$825,000
718 N Broad St, New Orleans, LA 70119
Car-lot property with office, open-bay service space, duplex improvements, and billboard signage.
Property Size1,736 SF
Price / SF$475.23
Days on Market92
Property Features for 718 N Broad St
General Information
Standard status
Active
Size
1,736 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Amenities
billboard
Building Details
Year Built
1920
Buildings
3
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Noah Thomas · License #995715515
(504) 388-6437
Source:
Dominionplace
Added: Jul 14
Changed: Oct 7
Last Checked: Oct 7 at 4:37PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This automotive property comprises 4,826 square feet across three buildings and is currently used as a car lot. Improvements include a 728-square-foot office building, a 1,608-square-foot open-bay repair shop, and a 2,500-square-foot duplex building. The layout supports automotive sales, service, administration, and additional occupancy options subject to HU-MU zoning and applicable requirements. The improvements date to 1977.
The property occupies a high-visibility corner along N Broad Street and Orleans Avenue in New Orleans’ Mid-City area, with access to Interstate 10, downtown, and surrounding neighborhoods. A billboard is located on site and has approximately two years remaining on its current lease agreement. The combination of automotive operating space, office facilities, service improvements, and a separate duplex building creates a varied commercial configuration for an owner-user or investor.
The property occupies a high-visibility corner along N Broad Street and Orleans Avenue in New Orleans’ Mid-City area, with access to Interstate 10, downtown, and surrounding neighborhoods. A billboard is located on site and has approximately two years remaining on its current lease agreement. The combination of automotive operating space, office facilities, service improvements, and a separate duplex building creates a varied commercial configuration for an owner-user or investor.
Key Highlights
- 4,826 SF of improvements across three buildings
- 728 SF office building, 1,608 SF open‑bay repair shop, and 2,500 SF duplex building
- Currently utilized as a car lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,438
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,760
$548.8K
Cap Rate 7%
$391,971
$392.0K
Cap Rate 9%
$304,867
$304.9K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$40.0K $23.04/SF
− Vacancy
−$800 −$0.46/SF
EGI
$39.2K $22.58/SF
− OpEx
−$11.8K −$6.77/SF
NOI
$27.4K $15.81/SF
Area
ZIP 70119
Vacancy
2.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,760
Cap Rate 7%
$391,971
Cap Rate 9%
$304,867
Alternative Uses
Best Use
Retail
$392.0K
$343.0K – $457.3K
NOI $27,438 @ 7.0% cap · market cap 3.33%
Second Best
Office B
$368.3K
$322.3K – $429.7K
NOI $25,780 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$454.3K
$397.5K – $530.0K
NOI $31,798 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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
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Frequently Asked Questions
What type of property is this?
Automotive property - Car-lot property with office, open-bay service space, duplex improvements, and billboard signage.
Where is this automotive property located?
The property is located at 718 N Broad St New Orleans, LA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4,826 SF of improvements across three buildings; 728 SF office building, 1,608 SF open‑bay repair shop, and 2,500 SF duplex building; Currently utilized as a car lot
