Hotel with Courtyard
For Sale
$4,750,000
124 S LOPEZ Street, New Orleans, LA 70119
Commercial, New Orleans, LA
Property Size29,238 SF
Price / SF$162.46
Days on Market574
Property Features for 124 S LOPEZ Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Lot features
Oversized
Standard status
Active
APN
112-124-128-130-136-140-SLOPEZST
Size
29,238 SF
Utilities
Water source
Public
Amenities
courtyard
above ground pool
music stage
Building Details
Year built
1920
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Added: Feb 10, 2025
Changed: Aug 20
Last Checked: Sep 7 at 5:06PM
MLS# 2486486
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 29,238-square-foot hotel property was built in 1920 and is arranged across six front buildings and two rear buildings. The accommodation program includes 27 keys, 27 private rooms with full baths, and a 32-bed dormitory configuration with shared bathrooms. A hotel business license and food and beverage license are in place.
The property is located at 124 S Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. On-site features include a large courtyard, above-ground pool, music stage, and parking. Zoning is C, with the source describing support for residential and hotel uses as well as retail and restaurant possibilities. Public water service is available.
The property is located at 124 S Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. On-site features include a large courtyard, above-ground pool, music stage, and parking. Zoning is C, with the source describing support for residential and hotel uses as well as retail and restaurant possibilities. Public water service is available.
Key Highlights
- 29,238 square feet on a 0.67‑acre property
- 27 keys with 27 private rooms and full baths
- 32‑bed dormitory accommodation with shared bathrooms
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
$162,490
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
3.42%
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%
$3,249,800
$3.2M
Cap Rate 7%
$2,321,286
$2.3M
Cap Rate 9%
$1,805,444
$1.8M
Market Conditions
NOI Build-Up for 29,238 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
$526.3K $18.00/SF
− Vacancy
−$184.2K −$6.30/SF
EGI
$342.1K $11.70/SF
− OpEx
−$179.6K −$6.14/SF
NOI
$162.5K $5.56/SF
Area
ZIP 70119
Vacancy
35.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$3,249,800
Cap Rate 7%
$2,321,286
Cap Rate 9%
$1,805,444
Alternative Uses
Best Use
Hotel Hospitality
$2.32M
$2.03M – $2.71M
NOI $162,490 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.65M
$6.69M – $8.93M
NOI $535,547 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Hospitality property offers private-room and dormitory accommodations, food-and-beverage licensing, and an outdoor guest area.
Where is this hotel located?
The property is located at 124 S LOPEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 29,238 square feet on a 0.67‑acre property; 27 keys with 27 private rooms and full baths; 32‑bed dormitory accommodation with shared bathrooms
