New Orleans, LA – SRSA Real Estate announced the sale of 700 Baronne Street, a commercial condominium located in New Orleans’ Warehouse District/CBD. The property sold for $1,150,000 at a 7.35% cap rate to Bio-Capital Properties LLC, an investment buyer with a tenant in place. The buyer is a local physician.
Steve Reisig and Chris Robertson Jr. of SRSA Real Estate represented the seller in the transaction.
The 2,121-square-foot corner condo is fully leased to Red River Bank, a well-established regional financial institution. The asset offered stable income in one of the city’s most active commercial submarkets.
Situated within a beautifully preserved 100-plus-year-old building, the space features exposed brick, open warehouse-style ceilings, oversized windows and doors, and prominent corner frontage that delivers strong visibility and natural light. The building was renovated in 2018.
Located at a key intersection within the Warehouse District, the property benefits from steady pedestrian and vehicular activity and proximity to major retail, dining, and residential uses. Zoned CBD-5, the asset offers flexibility for a variety of commercial users.
This transaction reflects continued investor demand for well-located, income-producing assets in the New Orleans CBD and Warehouse District.
