Two-Story Strip
For Sale
$850,000
1418 N CLAIBORNE Avenue, New Orleans, LA 70116
Commercial, New Orleans, LA
Property Size4,850 SF
Price / SF$175.26
Days on Market213
Property Features for 1418 N CLAIBORNE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Parking features
Off Street, Driveway
Lot features
Regular
Subdivision
Treme/Lafitte
Standard status
Active
APN
37W106509
Size
4,850 SF
Taxes and HOA fees
Tax Description
Lots 11 and 12, Sq 629, Third District, Orleans Parish
Legal Description
Lots 11 and 12, Sq 629, Third District, Orleans Parish
Utilities
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Beverly Rambo · License #15702
(504) 416-5004
Added: Jan 29
Changed: Aug 19
Last Checked: Aug 30 at 6:06PM
MLS# 2533625
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 two-level strip mall contains 4,850 square feet arranged as three retail bays on each floor. The property was built in 1970, and the exterior has been maintained. Several occupants have remained in place for many years, providing an existing tenant presence across the building.
The property is located in New Orleans within HMC-2 zoning. Parking is available through off-street areas and a driveway, with a substantial parking area situated across the street. Public water service is provided.
The property is located in New Orleans within HMC-2 zoning. Parking is available through off-street areas and a driveway, with a substantial parking area situated across the street. Public water service is provided.
Key Highlights
- 4,850‑square‑foot strip mall with two levels
- Three retail bays on the first floor and three on the second floor
- HMC‑2 zoning in New Orleans
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
$59,888
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
7.05%
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%
$1,197,760
$1.2M
Cap Rate 7%
$855,543
$855.5K
Cap Rate 9%
$665,422
$665.4K
Market Conditions
NOI Build-Up for 4,850 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
$87.3K $18.00/SF
− Vacancy
−$1.7K −$0.36/SF
EGI
$85.6K $17.64/SF
− OpEx
−$25.7K −$5.29/SF
NOI
$59.9K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,197,760
Cap Rate 7%
$855,543
Cap Rate 9%
$665,422
Alternative Uses
Best Use
Retail
$855.5K
$748.6K – $998.1K
NOI $59,888 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,290 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,717
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 76%
Electronics 24%
Dollar General Market
Groceries
10,065 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
1,684 visits/mo
0.4 miles
Boost Mobile
Electronics
1,413 visits/mo
0.5 miles
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Multiple retail bays span two levels in an established commercial building with public water service.
Where is this strip mall located?
The property is located at 1418 N CLAIBORNE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,850‑square‑foot strip mall with two levels; Three retail bays on the first floor and three on the second floor; HMC‑2 zoning in New Orleans
