New Construction Mixed-Use
For Sale
$1,650,000
825 Thalia St, New Orleans, LA 70130
Fully leased building with two office suites and a permitted commercial short-term rental.
Property Size3,850 SF
Price / SF$428.57
Days on Market12
Property Features for 825 Thalia St
General Information
Standard status
Active
Size
3,850 SF
Occupancy
100%
Additional Details
Office Units
2
Building Details
Year Built
2023
Buildings
1
Construction
concrete block
Tenancy
Multi
Owner Occupied
No
Listing Agency:
The McEnery Company
(318) 218-4860
Listed By:
Scott Weston · License #995684661
Source:
Dominionplace
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 8:00PM
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
Investment Insights
Based on property information with market context.
Built in 2023, this 3,850-square-foot mixed-use property combines durable concrete block construction with custom architectural detailing and a contemporary design influenced by classic New Orleans character. The ground floor contains two leased office spaces, while the upper level operates as a fully permitted commercial short-term rental. The property is fully leased and offers a combination of office and short-term lodging uses within one building.
Located at 825 Thalia St in New Orleans’ Lower Garden District, the property provides access to major thoroughfares, the Warehouse District, and nearby retail and dining amenities. Its placement within an area experiencing new development adds relevant neighborhood context for an owner-user or long-term holder.
Located at 825 Thalia St in New Orleans’ Lower Garden District, the property provides access to major thoroughfares, the Warehouse District, and nearby retail and dining amenities. Its placement within an area experiencing new development adds relevant neighborhood context for an owner-user or long-term holder.
Key Highlights
- 3,850‑square‑foot mixed‑use property at 825 Thalia St
- Built in 2023 with concrete block construction
- Two leased office spaces occupy the ground floor
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
$56,750
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
3.44%
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%
$1,135,000
$1.1M
Cap Rate 7%
$810,714
$810.7K
Cap Rate 9%
$630,556
$630.6K
Market Conditions
NOI Build-Up for 3,850 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
$87.8K $22.80/SF
− Vacancy
−$12.1K −$3.15/SF
EGI
$75.7K $19.65/SF
− OpEx
−$18.9K −$4.91/SF
NOI
$56.7K $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%
$1,135,000
Cap Rate 7%
$810,714
Cap Rate 9%
$630,556
Alternative Uses
Best Use
Office B
$810.7K
$709.4K – $945.8K
NOI $56,750 @ 7.0% cap · market cap 3.44%
Second Best
Mixed Use
$742.5K
$649.7K – $866.3K
NOI $51,975 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$978.5K
$856.2K – $1.14M
NOI $68,498 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased building with two office suites and a permitted commercial short-term rental.
Where is this mixed-use property located?
The property is located at 825 Thalia St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 3,850‑square‑foot mixed‑use property at 825 Thalia St; Built in 2023 with concrete block construction; Two leased office spaces occupy the ground floor
