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 Market161
Property Features for 8224 Maple St
General Information
Standard status
Active
Size
1,031 SF
Building Details
Year Renovated
2020
Listing Agency:
Ross Realty, LLC
(504) 491-7246
Listed By:
Shelley Ross · License #995699241
(504) 491-7246
Source:
Exprealty
Added: Mar 4
Changed: Jul 22
Last Checked: Aug 11 at 10:11AM
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
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 = 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
$15,197
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
5.08%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office units - Renovated in 2020, this office condo includes reception, multiple offices, a meeting room, and a half bath.
Where is this office units 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
