Enclosed Private Parking Office
For Sale
$1,100,000
747 Magazine Street Unit 5, New Orleans, LA 70130
Office unit with high ceilings, natural light, and access to enclosed shared parking with reserved spaces.
Property Size2,500 SF
Days on Market85
Property Features for 747 Magazine Street Unit 5
General Information
Standard status
Active
Size
2,500 SF
Class
A
Property subtype
Office
Building Details
Building Size
2,500 SF
Year Built
1867
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
Listed By:
Jack Herrington, CCIM · License #SALE.0995693154-ACT
(610) 563-9046
Source:
Sauragerotenberg
Added: Jun 17
Changed: Sep 8
Last Checked: Sep 8 at 6:28AM
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 Saurage Rotenberg Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
747 Magazine Street offers an office unit designed for flexibility, with a gracious entrance, refined entry finishes, and high ceilings. The floor plan is set to take advantage of natural light, supporting a comfortable work environment.
A key feature is the enclosed, shared private parking area, with reserved spaces available for occupants. The property is presented as a well-managed office setting with tenant amenities in place.
Structural quality is described as supporting a range of contemporary, traditional, and creative office layouts, allowing for tenant-specific buildout decisions within the existing configuration.
A key feature is the enclosed, shared private parking area, with reserved spaces available for occupants. The property is presented as a well-managed office setting with tenant amenities in place.
Structural quality is described as supporting a range of contemporary, traditional, and creative office layouts, allowing for tenant-specific buildout decisions within the existing configuration.
Key Highlights
- Year built: 1867
- Office space with high ceilings and natural light
- Floor plan is designed to support a variety of office layouts
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
$36,851
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
3.35%
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%
$737,020
$737.0K
Cap Rate 7%
$526,443
$526.4K
Cap Rate 9%
$409,456
$409.5K
Market Conditions
NOI Build-Up for 2,500 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
$57.0K $22.80/SF
− Vacancy
−$7.9K −$3.15/SF
EGI
$49.1K $19.65/SF
− OpEx
−$12.3K −$4.91/SF
NOI
$36.9K $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%
$737,020
Cap Rate 7%
$526,443
Cap Rate 9%
$409,456
Alternative Uses
Best Use
Office B
$526.4K
$460.6K – $614.2K
NOI $36,851 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$635.4K
$556.0K – $741.3K
NOI $44,479 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 units - Office unit with high ceilings, natural light, and access to enclosed shared parking with reserved spaces.
Where is this office units located?
The property is located at 747 Magazine Street Unit 5 New Orleans, LA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Year built: 1867; Office space with high ceilings and natural light; Floor plan is designed to support a variety of office layouts
