Office Building with Parking Potential

3426 Canal St, New Orleans, LA 70119

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For Sale

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Office building with off-street parking and commercial flexibility.

Type:Office

Property size:

4,563 SF

Lot size:

0.11 Acres

Price / SF:

$273/SF

HighLights

HU‑MU zoning provides flexibility for various commercial applications.
2,963 sq ft office building with desirable features.
Off‑street parking potential.
Full sprinkler system and ADA accessibility.
Terracotta roof (installed post‑Katrina) and new sewerage line.
Purchasing options: properties can be bought separately, as a package, or as part of a larger portfolio.

We can help!

Contact an agent

Matt Eaton

For Sale

Contact for pricing

Office building with off-street parking and commercial flexibility.

Type:Office

Property size:

4,563 SF

Lot size:

0.11 Acres

Price / SF:

$273/SF

Added:: Jul 2, 2024
Days on Market:: 736
Last Refresh:: Jul 5 at 6:23 am

Property Features for 3426 Canal St

General Information

Standard status: Active
Size: 4,563 SF
Lot size: 0.11 Acres
Property subtype: Office

We can help!

Contact an agent

Matt Eaton

Listing office Southeast Commercial Real Estate

Listing date Jul 2, 2024

Source Crexi

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 Southeast Commercial Real Estate

HighLights

HU‑MU zoning provides flexibility for various commercial applications.
2,963 sq ft office building with desirable features.
Off‑street parking potential.
Full sprinkler system and ADA accessibility.
Terracotta roof (installed post‑Katrina) and new sewerage line.
Purchasing options: properties can be bought separately, as a package, or as part of a larger portfolio.

Overview

The properties at 3420 and 3426 Canal are available for purchase together, offering an office building and off-street parking. The building at 3426 Canal is a 2,963 sq ft office building situated on a 4,800 sq ft lot. It features a full sprinkler system, a terracotta roof installed after Hurricane Katrina, a new sewerage line, and ADA accessibility features. The 3420 Canal property includes a 1,600 sq ft building in shell condition. This building was raised and shored after Hurricane Katrina, and a new roof was added after Hurricane Ida. Currently used for storage, the property also has a 1,100 sq ft clear span storage shed. The building at 3420 Canal could potentially be demolished, and the land used for off-street parking. Both properties are zoned HU-MU, providing flexibility for various commercial applications. The total property size is 4,563 sq ft.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$109.5k	$24.00
− Vacancy	−$19.2k	−$4.20
EGI	$90.3k	$19.80
− OpEx	−$22.6k	−$4.95
NOI	$67.8k	$14.85

4,563 SF · lease $24.00/SF/yr · vacancy 17.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$968.0K

$847.0K – $1.13M (±1% cap)

NOI $67,761 @ 7.0% cap · market cap 5.42%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.19M

$1.04M – $1.39M (±1% cap)

NOI $83,580 @ 7.0% cap · market cap 6.69%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: New Orleans
County: Jefferson
State: Louisiana
Longitude: -90.0950647
Latitude: 29.9703307

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For sale
Office buildings
LA
New Orleans
70119
3420 Canal Street

What type of property is this?

Office building - Office building with off-street parking and commercial flexibility.

Where is this office building located?

The property is located at 3426 Canal St New Orleans, LA.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: HU‑MU zoning provides flexibility for various commercial applications.; **2,963 sq ft office building with desirable features.**; Off‑street parking potential.