Class-A Nola Self-Storage Opportunity – New Orleans, LA
540 N Cortez St New Orleans, LA 70119
This exclusive opportunity allows investors to acquire a best-in-class, institutional quality self storage facility in the highly sought-after Mid-City neighborhood of New Orleans. The Property comprises 58,185 rentable square feet across 625 virtually all climate-controlled units, including 2,210 RSF leased to Tulane University at an annual rate of $26.25 per square foot on a year-to-year lease with 5% annual escalations (next increase: July 2026). As of August 2025, the Property was 97% occupied generating just over $100k in gross rent per month.
This Class A facility, which opened in June 2021, is a 4-story climate-controlled store that sits on 0.80 acres. It offers 24-hour availability and features gated entry, security cameras and an on-site manager. The Property is well-positioned in a dense residential pocket, adjacent to several large apartment developments such as the American Can and Lumina. With nearly 175,000 residents within a 3-mile radius, the facility is well-positioned to serve a high density trade area.
As of August 2025, the facility was 97% occupied, with the rent per occupied square foot averaging $21.20 annually- an 18% increase from August 2025. Over that same time period, the Property also maintained an average square foot occupancy of 96.3%. The combination of strong current and historical occupancy and rent growth positions the asset for continued rent growth.
The store is located in the City of New Orleans in the New Orleans/Metairie MSA. New Orleans is home to over 1.2 million people and is known for cultural richness, tourism and diverse economy with robust industries like healthcare, shipping and technology. Mid-City continues to experience growth and revitalization, making this facility one of the highest quality, core assets in the market / submarket.