Medical Office Space Near
For Sale
Contact for pricing
3525 Prytania St Suite 425, New Orleans, LA 70115
1,505 SF medical office condo near Touro Infirmary-LCMC Health.
Property Size1,505 SF
Price / SF$215.95
Days on Market606
Property Features for 3525 Prytania St Suite 425
General Information
Standard status
Active
Size
1,505 SF
Property subtype
Office
Zoning
MC
Lease Type
NNN
Investment Type
Owner/User
Listing Agency:
Corporate Realty
(504) 587-1450
Listed By:
Andrea Huseman · License #LA SALE.0000033384-ACT
Source:
Crexi
Added: Dec 10, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:02PM
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 1,505-sf medical office space is available within the 3525 Prytania St. medical condominium building. Located on the fourth floor, the suite features a reception area, a nurse’s station, five exam rooms, a lab room, a doctor’s office, a kitchenette, and a private bathroom. The layout is efficient and in excellent condition, offering plenty of natural light with minimal cosmetic renovations needed. The 204,545-sf, six-story building is located directly across the street from Touro Infirmary-LCMC Health and is connected to the hospital by an enclosed pedestrian bridge. The building includes passenger elevators and an atrium lobby with an electronic screen. The location is convenient to restaurants, cafés, banks, supermarkets, and pharmacies. Parking is available in the attached parking garage, which serves physicians, staff, and patients for both the building and Touro. Taxes are $420/month. The condo fee is $1,805 and includes electric and water bills, building insurance, and janitorial services. Owner financing may be available.
Key Highlights
- Directly across the street from Touro Infirmary‑LCMC Health and connected by an enclosed pedestrian bridge, offering unparalleled convenience.
- Efficient 1,505‑sf layout includes a reception area, nurse’s station, five exam rooms, a lab room, a doctor’s office, kitchenette, and private bathroom.
- Excellent condition with minimal cosmetic renovations needed and plenty of natural light.
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
$17,697
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
5.45%
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%
$353,940
$353.9K
Cap Rate 7%
$252,814
$252.8K
Cap Rate 9%
$196,633
$196.6K
Market Conditions
NOI Build-Up for 1,505 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
$26.7K $17.76/SF
− Vacancy
−$3.1K −$2.08/SF
EGI
$23.6K $15.68/SF
− OpEx
−$5.9K −$3.92/SF
NOI
$17.7K $11.76/SF
Area
ZIP 70115
Vacancy
11.72%
Lease Rate
$17.76 /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%
$353,940
Cap Rate 7%
$252,814
Cap Rate 9%
$196,633
Alternative Uses
Best Use
Office B
$252.8K
$221.2K – $295.0K
NOI $17,697 @ 7.0% cap · market cap 5.45%
Second Best
Healthcare Medical
$218.0K
$190.7K – $254.3K
NOI $15,257 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$397.1K
$347.4K – $463.2K
NOI $27,794 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,916
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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.
Similar Off Market Nearby
- Magazine Street Animal Clinic — 3969 Tchoupitoulas St, New Orleans, LA 70115
- Humane Society of New Orleans — 831 Bordeaux St, New Orleans, LA 70115
- Saacks III Antoine DVM — 831 Bordeaux St, New Orleans, LA 70115
- Dog Day Afternoon — 831 Bordeaux St, New Orleans, LA 70115
- East Riverside Veterinary Hospital — 3969 Tchoupitoulas St, New Orleans, LA 70115
Frequently Asked Questions
What type of property is this?
Medical Office Space - 1,505 SF medical office condo near Touro Infirmary-LCMC Health.
Where is this medical office space located?
The property is located at 3525 Prytania St Suite 425 New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Directly across the street from Touro Infirmary‑LCMC Health and connected by an enclosed pedestrian bridge, offering unparalleled convenience.; Efficient 1,505‑sf layout includes a reception area, nurse’s station, five exam rooms, a lab room, a doctor’s office, kitchenette, and private bathroom.; Excellent condition with minimal cosmetic renovations needed and plenty of natural light.
