Renovated Professional Office
For Sale
$298,900
8224 Maple St, New Orleans, LA 70118
Renovated in 2020, this office condo includes reception, multiple offices, a meeting room, and a half bath.
Property Size1,031 SF
Price / SF$289.91
Days on Market100
Property Features for 8224 Maple St
General Information
Standard status
Active
Size
1,031 SF
Site & Location
Neighborhood
Leonidas
Building Details
Year Built
1920
Year Renovated
2020
Listing Agency:
Ross Realty, LLC
Listed By:
Shelley Ross · License #995699241
(504) 491-7246
Source:
Dominionplace
Added: Jul 18
Changed: Oct 15
Last Checked: Oct 24 at 8:13PM
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 Ross Realty, LLC
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Investment Insights
Based on property information with market context.
Renovated in 2020, this professional office condo offers a functional layout and modern updates with high ceilings and hardwood floors. The interior includes a reception area, waiting room, three offices, a meeting room, a half bath, and a kitchen, supporting a range of professional uses.
The property is located in New Orleans in the Historic River Bend neighborhood. It is within walking distance to restaurants and shopping.
Monthly condo fees are $635 and include common area maintenance, a termite contract, flood insurance, and exterior insurance.
The property is located in New Orleans in the Historic River Bend neighborhood. It is within walking distance to restaurants and shopping.
Monthly condo fees are $635 and include common area maintenance, a termite contract, flood insurance, and exterior insurance.
Key Highlights
- Renovated in 2020 office condo with high ceilings, hardwood floors, and quality finishes
- Functional layout includes reception area, waiting room, three offices, and a meeting room
- Includes a half bath and kitchen for day‑to‑day office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,197
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,940
$303.9K
Cap Rate 7%
$217,100
$217.1K
Cap Rate 9%
$168,856
$168.9K
Market Conditions
NOI Build-Up for 1,031 SF
Gross rent
$23.5K $22.80/SF
− Vacancy
−$3.2K −$3.15/SF
EGI
$20.3K $19.65/SF
− OpEx
−$5.1K −$4.91/SF
NOI
$15.2K $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 Rate 5%
$303,940
Cap Rate 7%
$217,100
Cap Rate 9%
$168,856
Alternative Uses
Best Use
Office B
$217.1K
$190.0K – $253.3K
NOI $15,197 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$262.0K
$229.3K – $305.7K
NOI $18,343 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Office unit - Renovated in 2020, this office condo includes reception, multiple offices, a meeting room, and a half bath.
Where is this office unit located?
The property is located at 8224 Maple St New Orleans, LA.
What is the asking price?
The asking price for this property is $298,900.
What are key features of this property?
This property features: Renovated in 2020 office condo with high ceilings, hardwood floors, and quality finishes; Functional layout includes reception area, waiting room, three offices, and a meeting room; Includes a half bath and kitchen for day‑to‑day office use
