Warehouse District Commercial
For Sale
$499,000
C-1-628 Baronne St, New Orleans, LA 70112
Ground-floor commercial condo in the heart of the Warehouse District.
Property Size3,468 SF
Price / SF$143.89
Days on Market237
Property Features for C-1-628 Baronne St
General Information
Standard status
Active
Size
3,468 SF
Listing Agency:
Talbot Realty Group
(504) 525-9763
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Exprealty
Added: Jan 8
Changed: Aug 20
Last Checked: Sep 2 at 2:33AM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
Located in the Warehouse District, this ground-floor commercial condo is situated steps from the South Market District, Lafayette Square, and the French Quarter, with quick access to I-10. The unit, identified as C-1 at 628 Baronne Street, measures approximately 3,468 square feet and features roughly 45 feet of frontage. It is suitable for retail, office, gallery, or food and beverage use. The condo includes high ceilings, exposed brick, a private office, a restroom, a grease trap, and a rear storage area. Alley access facilitates discreet deliveries. The property is zoned CBD-5. The monthly condo fee is $1,259.72, with an ownership interest of 22.81%. It may be delivered ready for tenant buildout or occupancy, depending on the intended use. Owner financing is available for sale or lease.
Key Highlights
- Prime Warehouse District location with high foot traffic, near South Market District, Lafayette Square, and French Quarter.
- Versatile space suitable for retail, office, gallery, or food & beverage use.
- Ground‑floor commercial condo with ±45 ft of frontage.
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
$42,823
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
8.58%
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%
$856,460
$856.5K
Cap Rate 7%
$611,757
$611.8K
Cap Rate 9%
$475,811
$475.8K
Market Conditions
NOI Build-Up for 3,468 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
$62.4K $18.00/SF
− Vacancy
−$1.2K −$0.36/SF
EGI
$61.2K $17.64/SF
− OpEx
−$18.4K −$5.29/SF
NOI
$42.8K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /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%
$856,460
Cap Rate 7%
$611,757
Cap Rate 9%
$475,811
Alternative Uses
Best Use
Retail
$611.8K
$535.3K – $713.7K
NOI $42,823 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,702 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11,352
Businesses Nearby
478k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 61%
Groceries 19%
Dining 10%
Shops & Services 7%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.1 miles
Rouses Market
Groceries
49,050 visits/mo
0.5 miles
Rouses Market
Groceries
35,073 visits/mo
0.5 miles
Chevron
Shops & Services
23,516 visits/mo
0.4 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.3 miles
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Ground-floor commercial condo in the heart of the Warehouse District.
Where is this retail space located?
The property is located at C-1-628 Baronne St New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime Warehouse District location with high foot traffic, near South Market District, Lafayette Square, and French Quarter.; Versatile space suitable for retail, office, gallery, or food & beverage use.; Ground‑floor commercial condo with ±45 ft of frontage.
