Mid-City Office
For Sale
Contact for pricing
Pending
124 S Clark St, New Orleans, LA 70119
1,872 sq ft office space in vibrant Mid-City.
Property Size1,872 SF
Lot Size0.07 Acres
Days on Market768
Property Features for 124 S Clark St
General Information
Standard status
Pending
Size
1,872 SF
Class
B
Lot size
0.07 Acres
Property subtype
Office
Zoning
HU-MU
Lease Type
Modified
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Southeast Commercial Real Estate
(504) 339-2136
Listed By:
Matt Eaton · License #LA 0000072493
Source:
Crexi
Added: Jul 2, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:15PM
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
Investment Insights
Based on property information with market context.
This 1,872 sq ft property, situated on a 3,024 sq ft lot, is located in the Mid-City area of New Orleans. Zoned HU-MU, the property is suitable for office use and various other commercial applications. The property can be purchased individually or as part of a four-building package including properties on Canal Street and S. Clark Street. This property offers a blend of residential charm and commercial potential, suitable for businesses seeking a functional space.
Key Highlights
- Prime location in the vibrant Mid‑City area of New Orleans.
- Zoned HU‑MU, offering flexibility for various commercial applications.
- Opportunity for office use.
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
$27,799
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
6.95%
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%
$555,980
$556.0K
Cap Rate 7%
$397,129
$397.1K
Cap Rate 9%
$308,878
$308.9K
Market Conditions
NOI Build-Up for 1,872 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
$44.9K $24.00/SF
− Vacancy
−$7.9K −$4.20/SF
EGI
$37.1K $19.80/SF
− OpEx
−$9.3K −$4.95/SF
NOI
$27.8K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /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%
$555,980
Cap Rate 7%
$397,129
Cap Rate 9%
$308,878
Alternative Uses
Best Use
Office B
$397.1K
$347.5K – $463.3K
NOI $27,799 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.8K
$428.6K – $571.5K
NOI $34,289 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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 - 1,872 sq ft office space in vibrant Mid-City.
Where is this office units located?
The property is located at 124 S Clark St New Orleans, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime location in the vibrant Mid‑City area of New Orleans.; Zoned HU‑MU, offering flexibility for various commercial applications.; Opportunity for office use.
