Historic Ground-Floor Office
For Sale
$575,000
862 Camp St, New Orleans, LA 70130
Ground-floor commercial space with exposed brick, high ceilings, storage, and a shared rear courtyard.
Property Size1,428 SF
Price / SF$402.66
Days on Market51
Property Features for 862 Camp St
General Information
Standard status
Active
Size
1,428 SF
Occupancy
100%
Additional Details
Floor
Ground Floor
Highway Access
Yes
Amenities
shared courtyard
Building Details
Year Built
1840
Tenancy
Single
Abandoned
No
Listing Agency:
REVE, REALTORS
(225) 938-1222
Listed By:
Lance Daggs
Source:
Dominionplace
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 11:37AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This 1,428-square-foot ground-floor office unit at 862 Camp St features 11-foot ceilings, exposed brick, and substantial storage. The space is currently occupied by a law office and includes access to a shared rear courtyard. Built in 1840, the property combines historic construction with a flexible interior suited to continued office use. Potential for residential conversion is also identified in the property information.
The unit is positioned between Magazine Street and St. Charles Avenue, near the base of the Crescent City Connection. Its setting places it close to the CBD, the Convention Center, the National WWII Museum, Contemporary Arts Center, and Ogden Museum of Southern Art. Local restaurants and recurring neighborhood events contribute to an active surrounding environment. The property is zoned CBD-5 and has no HOA fees.
The unit is positioned between Magazine Street and St. Charles Avenue, near the base of the Crescent City Connection. Its setting places it close to the CBD, the Convention Center, the National WWII Museum, Contemporary Arts Center, and Ogden Museum of Southern Art. Local restaurants and recurring neighborhood events contribute to an active surrounding environment. The property is zoned CBD-5 and has no HOA fees.
Key Highlights
- 1,428 SF ground‑floor office unit at 862 Camp St
- 11‑foot ceilings with exposed brick walls
- Currently occupied by a law office
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
$21,049
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
3.66%
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%
$420,980
$421.0K
Cap Rate 7%
$300,700
$300.7K
Cap Rate 9%
$233,878
$233.9K
Market Conditions
NOI Build-Up for 1,428 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
$32.6K $22.80/SF
− Vacancy
−$4.5K −$3.15/SF
EGI
$28.1K $19.65/SF
− OpEx
−$7.0K −$4.91/SF
NOI
$21.0K $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%
$420,980
Cap Rate 7%
$300,700
Cap Rate 9%
$233,878
Alternative Uses
Best Use
Office B
$300.7K
$263.1K – $350.8K
NOI $21,049 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$363.0K
$317.6K – $423.5K
NOI $25,407 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,554
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
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Frequently Asked Questions
What type of property is this?
Office units - Ground-floor commercial space with exposed brick, high ceilings, storage, and a shared rear courtyard.
Where is this office units located?
The property is located at 862 Camp St New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,428 SF ground‑floor office unit at 862 Camp St; 11‑foot ceilings with exposed brick walls; Currently occupied by a law office
