Office/Warehouse Space For
601 S Galvez New Orleans, LA 70119
601 S Galvez, New Orleans, LA, 70119
Contact for pricing
For Sale
Contact for pricing
82,300 SF office/warehouse space, ideal for storage and distribution.
Property Size82,300 SF
Price / SF$81.41
Days on Market656
Property Features for 601 S Galvez
General Information
- Standard status
- Active
- Size
- 82,300 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2006
Listing Agency
The Industrial Group, LLC
(504) 569-9412
Listed by
Trimble Green · License #38278
Source
Crexi
Added: Oct 1, 2024 Checked: Jul 16 at 3:10 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 The Industrial Group, LLC
Investment Insights
Based on property information with market context.
This property offers approximately 82,300 square feet of office and warehouse space, situated at the corner of South Galvez Street and Poydras Street. It presents an ideal location for storage and distribution, providing access to Mid-City, the Central Business District, and the French Quarter. The property includes approximately 12,000 square feet of office and showroom space in varying conditions. Loading is facilitated by six dock-high rolling doors. The warehouse area is partially climate-controlled. Previously, the property was occupied by a large-scale moving and storage company. The building is fully sprinklered. Approximately 17,500 square feet is currently leased to Grainger, and this lease will transfer to the buyer.
Key Highlights
- Prime location at the corner of South Galvez St. and Poydras St., ideal for storage and distribution to Mid‑City, CBD, and French Quarter.
- Significant warehouse space of approximately 82,300 sf.
- Existing lease to Grainger for +/-17,500 SF transfers to the buyer, providing immediate income.
Local Financial Insights For Industrial
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 | $819.7k | $9.96 |
| − Vacancy | −$45.1k | −$0.55 |
| EGI | $774.6k | $9.41 |
| − OpEx | −$232.4k | −$2.82 |
| NOI | $542.2k | $6.59 |
82,300 SF · lease $9.96/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$17.46M
$15.28M – $20.37M
NOI $1,222,155 @ 7.0% cap · market cap 18.24%
Second Best
Warehouse
$9.46M
$8.27M – $11.03M
NOI $661,914 @ 7.0% cap · market cap 9.88%
Theoretical Best
Office A
$21.54M
$18.84M – $25.12M
NOI $1,507,473 @ 7.0% cap · market cap 22.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pipe Line Works
Factory
Grainger Industrial Supply
(Bike/Boat/Book/etc) Store
Kid Gloves, Inc.
Moving Company
Similar For Sale Nearby
Similar Off Market Nearby
- Dummer's Grain Service — 1100 Poydras St, New Orleans, LA 70163
- Self Storage — 920 poydras st, new orleans, la 70112
- Nannybag Luggage Storage — 625 Baronne St, New Orleans, LA 70113
- Spacebox Storage New Orleans — 2250 Earhart Blvd, New Orleans, LA 70113
- The Quality Group — 1100 Poydras St, New Orleans, LA 70163
FAQs
What type of property is this?
Warehouse - 82,300 SF office/warehouse space, ideal for storage and distribution.
Where is this warehouse located?
The property is located at 601 S Galvez New Orleans, LA.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: Prime location at the corner of South Galvez St. and Poydras St., ideal for storage and distribution to Mid‑City, CBD, and French Quarter.; Significant warehouse space of approximately 82,300 sf.; Existing lease to Grainger for +/-17,500 SF transfers to the buyer, providing immediate income.
