Historic Office Building For
616 Girod St New Orleans, LA 70130
616 Girod St, New Orleans, LA, 70130
Contact for pricing
For Sale
Contact for pricing
Pending
Three-story historic building in downtown New Orleans, ideal for redevelopment.
Property Size10,300 SF
Days on Market964
Property Features for 616 Girod St
General Information
- Standard status
- Pending
- Size
- 10,300 SF
- Property subtype
- Office
Building Details
- Year Built
- 1873
Listing Agency
Corporate Realty
(504) 581-5005
Listed by
William Sadler · License #LA SALE.0995692597-ACT
Source
Crexi
Added: Nov 27, 2023 Checked: Jul 16 at 10:44 am
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
Investment Insights
Based on property information with market context.
This three-story historic building is located on the corner of Girod and Church streets in downtown New Orleans. Its central location places it directly across from the F. Edward Hebert Federal Building and near Lafayette Square Park, the Hale Boggs Federal Building, and the U.S. Court of Appeals. The property is situated half a block from both the uptown and downtown St. Charles streetcars and is close to hotels, restaurants, Class A office towers, and the Warehouse District art galleries and museums. The building is in excellent condition and offers 10,300 square feet of space. This property presents an opportunity for an owner-user for office use or redevelopment.
Key Highlights
- Highly desirable central downtown New Orleans location.
- Proximity to federal buildings, Lafayette Square Park, and the U.S. Court of Appeals.
- Half a block from both uptown and downtown St. Charles streetcars.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $234.8k | $22.80 |
| − Vacancy | −$32.4k | −$3.15 |
| EGI | $202.4k | $19.65 |
| − OpEx | −$50.6k | −$4.91 |
| NOI | $151.8k | $14.74 |
10,300 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,824 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,254 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Courington Kiefer & Sommers
Law Firm
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FAQs
What type of property is this?
Office building - Three-story historic building in downtown New Orleans, ideal for redevelopment.
Where is this office building located?
The property is located at 616 Girod St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,430,000.
What are key features of this property?
This property features: Highly desirable central downtown New Orleans location.; Proximity to federal buildings, Lafayette Square Park, and the U.S. Court of Appeals.; Half a block from both uptown and downtown St. Charles streetcars.
