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 Market47
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
(504) 388-6437
Listed By:
Noah Thomas · License #995715515
Source:
Dominionplace
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 28 at 12:59PM
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 = 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
$27,438
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
3.33%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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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
