Office Condo with Street-Facing
For Sale
$549,000
8616 Oak St, New Orleans, LA 70118
HU-MU zoning allows office or retail use in a building that also contains residential units.
Property Size1,473 SF
Price / SF$372.71
Days on Market15
Property Features for 8616 Oak St
General Information
Standard status
Active
Size
1,473 SF
Total Parking Spaces
7
Property subtype
Office
Zoning
HU-MU
Additional Details
Floor
Ground Floor
Public Transit
Yes
Office Units
1
Amenities
7 Parking Spaces
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Corporate Realty - Main Office
Listed By:
Seth Fawer · License #SALE.995719532
(504) 581-5005
Source:
Lacdb.resimplifi
Added: Sep 29
Changed: Oct 13
Last Checked: Oct 13 at 2:10AM
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 Corporate Realty - Main Office
Investment Insights
Based on property information with market context.
This 1,473-square-foot commercial condominium occupies the ground floor of a mixed-use building with 21 residential units. Its current office plan includes a foyer and reception area, two enclosed offices or conference rooms, a kitchen, and a bathroom. Large windows face Oak Street. The HU-MU zoning also allows retail use.
The unit includes 7 dedicated parking spaces: 6 assigned spaces beneath the building and 1 behind a parking gate. Restaurants, shops, boutiques, and other businesses line Oak Street, and the St. Charles Streetcar line is a 10-minute walk away. It is the building’s only commercial unit.
The unit includes 7 dedicated parking spaces: 6 assigned spaces beneath the building and 1 behind a parking gate. Restaurants, shops, boutiques, and other businesses line Oak Street, and the St. Charles Streetcar line is a 10-minute walk away. It is the building’s only commercial unit.
Key Highlights
- 1,473 square feet on the ground floor of a mixed‑use building with 21 residential units
- Current layout includes reception, two enclosed office or conference rooms, a kitchen, and a bathroom
- 7 dedicated parking spaces: 6 assigned beneath the building and 1 behind a parking gate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,712
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,240
$434.2K
Cap Rate 7%
$310,171
$310.2K
Cap Rate 9%
$241,244
$241.2K
Market Conditions
NOI Build-Up for 1,473 SF
Gross rent
$33.6K $22.80/SF
− Vacancy
−$4.6K −$3.15/SF
EGI
$28.9K $19.65/SF
− OpEx
−$7.2K −$4.91/SF
NOI
$21.7K $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%
$434,240
Cap Rate 7%
$310,171
Cap Rate 9%
$241,244
Alternative Uses
Best Use
Office B
$310.2K
$271.4K – $361.9K
NOI $21,712 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$374.4K
$327.6K – $436.8K
NOI $26,207 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
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 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?
Office units - HU-MU zoning allows office or retail use in a building that also contains residential units.
Where is this office units located?
The property is located at 8616 Oak St New Orleans, LA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1,473 square feet on the ground floor of a mixed‑use building with 21 residential units; Current layout includes reception, two enclosed office or conference rooms, a kitchen, and a bathroom; 7 dedicated parking spaces: 6 assigned beneath the building and 1 behind a parking gate
