Established-Tenant Medical
For Sale
$590,000
807 S Carrollton Ave, New Orleans, LA 70118
Leased medical office space with a chiropractic practice occupying the property since the mid-1980s.
Property Size1,478 SF
Lot Size0.08 Acres
Price / SF$399.19
Days on Market269
Property Features for 807 S Carrollton Ave
General Information
Standard status
Active
Size
1,478 SF
Lot size
0.08 Acres
Property subtype
Office
Zoning
HU-B1
Listing Agency:
The McEnery Company Inc
(504) 236-9542
Listed By:
S. McEnery · License #0099563766
(504) 236-9542
Source:
Lacdb.resimplifi
Added: Dec 3, 2025
Changed: Aug 29
Last Checked: Aug 29 at 11:54AM
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 The McEnery Company Inc
Investment Insights
Based on property information with market context.
This ±1,478-square-foot medical office property is occupied by a chiropractic practice that has leased the space since the mid-1980s. The established tenancy provides a clear operating history for the building, which is located within the South Carrollton Avenue corridor in New Orleans.
The building sits on an approximately 3,504 SF site and carries HU-B1 zoning. The parcel is also included in a larger assemblage of four adjacent properties with a combined site area of approximately ±13,200 SF. The property can be acquired on its own or together with the broader multi-parcel portfolio.
The building sits on an approximately 3,504 SF site and carries HU-B1 zoning. The parcel is also included in a larger assemblage of four adjacent properties with a combined site area of approximately ±13,200 SF. The property can be acquired on its own or together with the broader multi-parcel portfolio.
Key Highlights
- ±1,478 square feet of medical office space
- Leased to a chiropractic practice since the mid‑1980s
- Approximately 3,504 SF site tied to the building
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
$21,786
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
3.69%
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%
$435,720
$435.7K
Cap Rate 7%
$311,229
$311.2K
Cap Rate 9%
$242,067
$242.1K
Market Conditions
NOI Build-Up for 1,478 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
$33.7K $22.80/SF
− Vacancy
−$4.7K −$3.15/SF
EGI
$29.0K $19.65/SF
− OpEx
−$7.3K −$4.91/SF
NOI
$21.8K $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%
$435,720
Cap Rate 7%
$311,229
Cap Rate 9%
$242,067
Alternative Uses
Best Use
Office B
$311.2K
$272.3K – $363.1K
NOI $21,786 @ 7.0% cap · market cap 3.69%
Second Best
Healthcare Medical
$307.7K
$269.2K – $359.0K
NOI $21,539 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$375.7K
$328.7K – $438.3K
NOI $26,296 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,351
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Medical Office Space - Leased medical office space with a chiropractic practice occupying the property since the mid-1980s.
Where is this medical office space located?
The property is located at 807 S Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: ±1,478 square feet of medical office space; Leased to a chiropractic practice since the mid‑1980s; Approximately 3,504 SF site tied to the building
