Class-A Nola Self-Storage Portfolio Opportunity – New Orleans, LA
540 N Cortez St New Orleans, LA 70119, 1601 Tchoupitoulas Street, New Orleans, LA 70130
This exclusive opportunity allows investors to acquire two Class‑A, institutional‑quality self‑storage assets in high‑growth, infill New Orleans submarkets. The offering consists of two properties totaling 161,866 rentable square feet of climate‑controlled self‑storage, inclusive of 11,430 rentable square feet of storage leased to Tulane University and 32,692 gross square feet of space leased to Tulane University, providing stable supplemental income from a nationally recognized university tenant.
The offering includes 1601 Tchoupitoulas Street, which comprises 61,759 rentable square feet of self‑storage available to the public, along with 11,430 rentable square feet of self‑storage units and 30,482 gross square feet of additional space leased to Tulane University. Customer‑available self‑storage is currently 92.55% occupied at $25.15 in‑place rents, with nearby Class‑A competitors along Tchoupitoulas Street advertising materially higher rates for comparable climate‑controlled units. In 2025, a lease amendment with Tulane University enabled the owner to recapture previously lower‑productivity space and deliver approximately 11,500 rentable square feet of newly constructed climate‑controlled self‑storage, which was completed in September 2025.
The second asset, 540 North Cortez, is located in the Mid‑City submarket and was delivered in 2021. The property totals 55,985 rentable square feet across 622 climate‑controlled units and is currently 92.58% occupied at $22.41 in‑place rents. From February 2025 to February 2026, the facility averaged 95.1% physical occupancy while achieving a 17% increase in in‑place rents, demonstrating strong demand and pricing power. The property also includes 2,210 gross square feet leased to Tulane University, generating $58,013 in annual income.
Both assets are professionally managed by Extra Space Storage and feature modern Class‑A amenities including on‑site leasing offices, gated and keypad‑controlled access, and surveillance systems. The portfolio benefits from infill locations, limited nearby developable land, and proximity to dense residential neighborhoods and employment centers.
New Orleans’ ongoing revitalization is being driven by coordinated economic‑development initiatives, sustained public‑private investment, and measured residential growth, creating durable fundamentals for well‑located self‑storage assets. According to Greater New Orleans, Inc. and the New Orleans Redevelopment Authority, municipal and regional strategies continue to prioritize neighborhood reinvestment, infrastructure improvements, housing production, and job diversification across core urban corridors. Population stabilization within the New Orleans MSA has reinforced demand for renter‑oriented housing, while multifamily development and absorption have remained balanced amid limited new supply due to zoning constraints and geographic barriers. This combination of residential density, constrained infill development, and sustained economic activity supports consistent, localized demand for self‑storage, positioning the properties at 540 North Cortez Boulevard and 1601 Tchoupitoulas Street as well‑located assets aligned with the city’s long‑term urban growth and investment trajectory.