Income-Producing Commercial Property on
8228 Oak St New Orleans, LA 70118
8228 Oak St, New Orleans, LA, 70118
Contact for pricing
For Sale
Contact for pricing
Two-story commercial building with off-street parking on bustling Oak Street.
Property Size3,540 SF
Price / SF$324.86
Days on Market761
Property Features for 8228 Oak St
General Information
- Standard status
- Active
- Size
- 3,540 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing Agency
Ben + Burka Commercial Real Estate
(504) 301-1002
Listed by
Aaron Kazanoff · License #LA 0995700882
Source
Crexi
Added: Jun 18, 2024 Checked: Jul 17 at 8:33 am
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 Ben + Burka Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 8228 Oak Street is a two-story commercial building situated in a vibrant New Orleans location. The building features ample off-street parking and is located on Oak Street. The ground floor is leased on a NNN basis to Primo Hoagies, a nationally recognized sandwich franchise. The upstairs unit is occupied on a month-to-month basis by a therapy office/studio apartment and could be owner/operated or leased out on a long term basis. The property is move-in ready for any investor seeking rental income. The property is located in a popular commercial district near Zotz Cafe, Oak Street Brewery, Jacques-Imo’s, Maple Leaf Bar, and Breads on Oak. The property size is 3540 square feet.
Key Highlights
- Income‑producing commercial property with established tenant (Primo Hoagies).
- Favorable NNN lease in place with national franchise (Primo Hoagies).
- Desirable location on bustling Oak Street in New Orleans.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.7k | $18.00 |
| − Vacancy | −$1.3k | −$0.36 |
| EGI | $62.4k | $17.64 |
| − OpEx | −$18.7k | −$5.29 |
| NOI | $43.7k | $12.35 |
3,540 SF · lease $18.00/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$624.5K
$546.4K – $728.5K
NOI $43,712 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$899.8K
$787.3K – $1.05M
NOI $62,983 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
PrimoHoagies
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two-story commercial building with off-street parking on bustling Oak Street.
Where is this retail space located?
The property is located at 8228 Oak St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Income‑producing commercial property with established tenant (Primo Hoagies).; Favorable NNN lease in place with national franchise (Primo Hoagies).; Desirable location on bustling Oak Street in New Orleans.
