Two-Story CBD Office
For Sale
$2,495,000
829 BARONNE Street, New Orleans, LA 70113
Two-story office building with ample parking and garage parking for two vehicles in a New Orleans CBD area.
Property Size12,361 SF
Days on Market881
Property Features for 829 BARONNE Street
General Information
Standard status
Active
Size
12,361 SF
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Building Details
Building Size
12,361 SF
Year Built
1920
Stories
2
Listing Agency:
Talbot Realty Group
Listed By:
Robert Talbot · License #000006978
(504) 525-9763
Source:
Talbot-realty
Added: Apr 10, 2024
Changed: Aug 25
Last Checked: Sep 7 at 4:30AM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
This classic two-story office building offers a dedicated office setting in the New Orleans CBD. The property includes ample parking and also features garage parking for two vehicles.
The building is positioned in a convenient CBD area with quick access to all areas from the Pontchartain Expressway. Nearby businesses and amenities include Rouses Market, FedEx Office, True Food Kitchen, NOLA Caye Restaurant, Anti- Gravity Salon, and Mammoth Expresso Coffee.
The property is presented for sale as an office building offering established parking access for business use.
The building is positioned in a convenient CBD area with quick access to all areas from the Pontchartain Expressway. Nearby businesses and amenities include Rouses Market, FedEx Office, True Food Kitchen, NOLA Caye Restaurant, Anti- Gravity Salon, and Mammoth Expresso Coffee.
The property is presented for sale as an office building offering established parking access for business use.
Key Highlights
- 2‑story office building in the New Orleans CBD area
- Garage parking for two vehicles
- Ample parking available on‑site
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
$182,204
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
7.30%
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%
$3,644,080
$3.6M
Cap Rate 7%
$2,602,914
$2.6M
Cap Rate 9%
$2,024,489
$2.0M
Market Conditions
NOI Build-Up for 12,361 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
$281.8K $22.80/SF
− Vacancy
−$38.9K −$3.15/SF
EGI
$242.9K $19.65/SF
− OpEx
−$60.7K −$4.91/SF
NOI
$182.2K $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%
$3,644,080
Cap Rate 7%
$2,602,914
Cap Rate 9%
$2,024,489
Alternative Uses
Best Use
Office B
$2.60M
$2.28M – $3.04M
NOI $182,204 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $219,923 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 building - Two-story office building with ample parking and garage parking for two vehicles in a New Orleans CBD area.
Where is this office building located?
The property is located at 829 BARONNE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 2‑story office building in the New Orleans CBD area; Garage parking for two vehicles; Ample parking available on‑site
