Mixed-Use Property with Covered
For Sale
Contact for pricing
167 Harbor Cir, New Orleans, LA 70126
Mixed-use property featuring office, shop, and covered parking.
Property Size4,500 SF
Lot Size1.00 Acre
Price / SF$77.78
Days on Market811
Property Features for 167 Harbor Cir
General Information
Standard status
Active
Size
4,500 SF
Lot size
1.00 Acre
Property subtype
Office, Industrial
Zoning
HI
Listing Agency:
Beau Box Commercial Real Estate New Orleans
(225) 931-9222
Listed By:
Burden Edmonds · License #LA 0912123059
Source:
Crexi
Added: May 20, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:13AM
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 Beau Box Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 3,000 square feet of office space, a 1,500-square-foot automotive shop, and roughly 14,600 square feet of covered parking. The awning-covered parking area could be enclosed. Situated on approximately one acre (200 feet by 217 feet), the property is zoned H-1. Previously utilized as a tow yard and a school bus lot, the property is suited for a company servicing a fleet of automobiles or for storage purposes. The property offers multiple other possibilities.
Key Highlights
- +/- 14,600 sf of covered parking (easily enclosed)
- +/- 3,000 sf office and 1,500 sf automotive shop
- Approximately 1 acre lot (200' x 217')
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
$26,933
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
7.70%
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%
$538,660
$538.7K
Cap Rate 7%
$384,757
$384.8K
Cap Rate 9%
$299,256
$299.3K
Market Conditions
NOI Build-Up for 4,500 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
$40.5K $9.00/SF
− Vacancy
−$2.0K −$0.45/SF
EGI
$38.5K $8.55/SF
− OpEx
−$11.5K −$2.56/SF
NOI
$26.9K $5.98/SF
Area
ZIP 70126
Vacancy
5.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$538,660
Cap Rate 7%
$384,757
Cap Rate 9%
$299,256
Alternative Uses
Best Use
Retail
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 20.32%
Second Best
Office B
$891.9K
$780.4K – $1.04M
NOI $62,435 @ 7.0% cap · market cap 17.84%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,620 @ 7.0% cap · market cap 23.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 70126, LA
30,397
Population
12,686
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
87%
High-School Grad
12.1 sq mi
ZIP Area
2,512
Density / Sq Mi
$38,229
Median Household Income
$29,510
Median Earnings
$1,118
Median Rent
$187,300
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?
Mixed-use property - Mixed-use property featuring office, shop, and covered parking.
Where is this mixed-use property located?
The property is located at 167 Harbor Cir New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: +/- 14,600 sf of covered parking (easily enclosed); +/- 3,000 sf office and 1,500 sf automotive shop; Approximately 1 acre lot (200' x 217')
