Renovated Office Building with
1240 Camp St, New Orleans, LA 70130
Historic New Orleans office building with unparalleled finishes and amenities.
Type:Office, Retail
Property size:
8,655 SFPrice / SF:
$179/SF- Added:
- Mar 26, 2024
- Days on Market:
- 799
- Last Refresh:
- May 12 at 10:46 pm
Property Features for 1240 Camp St
General Information
- Standard status
- Active
- Size
- 8,655 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1995
Listing agent Bryce French License #LA 0995690959
Listing office CBRE New Orleans
Listing date Mar 26, 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 CBRE New Orleans
HighLights
- Unparalleled, renovated office space exceeding market standards with high‑end finishes and amenities.
- Prime location in the historic Lower Garden District of New Orleans.
- Includes a parking garage.
- Situated three blocks from the Central Business District.
- Located on Camp Street, a well‑maintained thoroughfare with bike lane and landscaping.
- Features ±8,655 SF of office space.
Overview
Located in the historic Lower Garden District of New Orleans, 1240 Camp Street is an office building offering approximately 8,655 square feet of space with a parking garage. The building has been renovated beyond market standards, featuring high-end finishes and amenities. Situated three blocks from the Central Business District, the property occupies a prominent corner location at Camp Street and Thalia Street. Camp Street is a two-way thoroughfare that includes well-marked, lighted crosswalks, a dedicated bike lane, and landscaped grounds. The building is surrounded by traditional New Orleans residential architecture.
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 | $197.3k | $22.80 |
| − Vacancy | −$27.2k | −$3.15 |
| EGI | $170.1k | $19.65 |
| − OpEx | −$42.5k | −$4.91 |
| NOI | $127.6k | $14.74 |
8,655 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.13M
NOI $127,576 @ 7.0% cap · market cap 8.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,987 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.072401
- Latitude
- 29.9385989
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Historic New Orleans office building with unparalleled finishes and amenities.
Where is this office building located?
The property is located at 1240 Camp St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Unparalleled, renovated office space exceeding market standards with high‑end finishes and amenities.; Prime location in the historic Lower Garden District of New Orleans.; Includes a parking garage.
