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Property profile & analytics
OFF-MARKET Estimated value $3,260,000
Office buildings

147 Carondelet St New Orleans, LA 70130-2586

41,922 SF 0.19 ac lot Built 1919
Entity Owned 1-yr Hold Free & Clear
Property ID
US36-0226460
Property summary
AI-generated overview

This exceptional six-story, 41,922 square foot building, constructed in 1923, presents a unique redevelopment opportunity in New Orleans' Central Business District (CBD). Formerly a Federal Reserve Bank branch, this vacant property boasts a prime location on Carondelet Street, directly facing the St. Charles Avenue streetcar line, just one block from the intersection of Canal and Bourbon Streets. Its proximity to the French Quarter, Warehouse District, and Medical District ensures excellent visibility and accessibility. The building is offered free and clear of all encumbrances, providing a clean slate for future development. A significant advantage is the inclusion of 25 complimentary parking spaces secured through a long-term agreement with the Pere Marquette Garage, extending for nearly 80 more years. This mixed-use property, previously utilized as a bank, executive office space, and event venue, offers substantial potential for various commercial ventures. The asking price is $6,000,000, translating to $143.12 per square foot. This is a rare chance to acquire a distinguished historic building in a thriving, high-traffic area of New Orleans.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1919
Total area 41,922 SF
Lot 0.19 ac (8,434 SF)
APN 105101513
UPID US36-0226460
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • David Oreck Candle Company Corporate Office Business Service Center Corporate Office
  • Bruno Inc General Contractor
  • Federal Ballroom Wedding Service
  • 147 Carondelet New Orleans, LA 70130 Real Estate Agency
  • nxxio Federal Courthouse
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$3.06M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.26M
Owner & transaction history
Old Federal Reserve LLC · 1 yrs held
Old Federal Reserve LLC
since 2025
Last sale
$3.5M
1 recorded transaction
2025
$3.5M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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