Income-Producing Commercial Property on
For Sale
$1,150,000
8228 Oak St, New Orleans, LA 70118
Two-story commercial building with off-street parking on bustling Oak Street.
Property Size3,540 SF
Price / SF$324.86
Days on Market205
Property Features for 8228 Oak St
General Information
Standard status
Active
Size
3,540 SF
Building Details
Year Built
1960
Listing Agency:
Ben & Burka
Listed By:
Aaron Kazanoff · License #0995700882
(504) 301-1002
Source:
Dominionplace
Added: Mar 26
Changed: Oct 13
Last Checked: Oct 7 at 2:57PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,712
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,240
$874.2K
Cap Rate 7%
$624,457
$624.5K
Cap Rate 9%
$485,689
$485.7K
Market Conditions
NOI Build-Up for 3,540 SF
Gross rent
$63.7K $18.00/SF
− Vacancy
−$1.3K −$0.36/SF
EGI
$62.4K $17.64/SF
− OpEx
−$18.7K −$5.29/SF
NOI
$43.7K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$874,240
Cap Rate 7%
$624,457
Cap Rate 9%
$485,689
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 37%
Home Improvements & Furnishings 3%
Beauty & Spa 3%
Shell
Shops & Services
9,171 visits/mo
0.4 miles
Chevron
Shops & Services
5,992 visits/mo
0.3 miles
la Madeleine Country French Cafe
Dining
5,803 visits/mo
0.4 miles
Whitney Bank
Shops & Services
4,842 visits/mo
0.2 miles
Taco Loco
Dining
3,633 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
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.
