Building Details

Year Built 2023

Buildings 1

Construction concrete block

Tenancy Multi

Owner Occupied No

Listing Agency: The McEnery Company

Listed By: Scott Weston · License #995684661 Show Phone

Source: Dominionplace

Added: Aug 20 Changed: Oct 4 Last Checked: Oct 7 at 1:07PM

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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

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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.

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 / Yr

$56,750

Cap Rate

3.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,135,000 $1.1M

Cap Rate 7%

$810,714 $810.7K

Cap Rate 9%

$630,556 $630.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,850 SF

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 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 (±1% cap)

NOI $56,750 @ 7.0% cap · market cap 3.44%

Second Best

Mixed Use

$742.5K

$649.7K – $866.3K (±1% cap)

NOI $51,975 @ 7.0% cap · market cap 3.15%

Theoretical Best

Office A

$978.5K

$856.2K – $1.14M (±1% cap)

NOI $68,498 @ 7.0% cap · market cap 4.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Garrison Builders General Contractor

Suggested Use

Top Pick Dental Office Auto Parts Store HVAC Service Garden Center (Bike/Boat/Book/etc) Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.9% 2019

9.7% 2020

11.3% 2021

10.2% 2022

10.9% 2023

11.6% 2024

9.6% 2025

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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