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    Remodeled Commercial Property in Marigny Title is generated by Realmo AI

    2404 ST CLAUDE Avenue, New Orleans, LA 70117

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    For Sale
    $649,000

    COMMERCIAL - New Orleans, LA

    Property size:
    2,029 SF
    Price / SF:
    $319/SF
    Added:
    Apr 16, 2026
    Days on Market:
    35
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 2404 ST CLAUDE Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    HMC-2
    Standard status
    Active
    APN
    7
    Size
    2,029 SF

    Taxes and HOA fees

    Tax Description
    SQ 369 LOT B OR PT LOT 7 ST CLAUDE 34 X 98 DBLE/FR 6/RM EA SIDE A/R 2404-06 ST CLAUDE AVE

    Utilities

    Water source
    Public

    Building Details

    Year built
    1901
    Floors in Building
    1

    We can help!

    Listing Contact
    Aaron Dare

    Listing agent Aaron Dare License #995681183

    Listing office Crane Realtors 138 N Cortez Street, New Orleans, LA

    Listing date Apr 16, 2026

    MLS# 2553320

    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.

    HighLights

    • Prime location in the vibrant Faubourg Marigny, steps from attractions and directly across from St. Roch Market.
    • Versatile open floor plan suitable for retail, gallery, office, or potential short‑term rental/work‑live space.
    • Listed on the National Register of Historic Places with preserved architectural character and modern updates.
    • Generous primary suite with adjoining sitting room and luxury en suite bathroom.
    • Strong curb appeal with light‑filled interiors, soaring ceilings, and hardwood floors.
    • Private yard and covered porch ideal for events, entertaining, or expansion.

    Overview

    This remodeled property, featuring a new roof, is located in the Faubourg Marigny, near restaurants, boutique shops, and neighborhood attractions, including the St Roch Market and the Healing Center. Listed on the National Register of Historic Places, the property combines architectural character with modern updates, suitable for commercial uses in one of New Orleans' districts. The property features curb appeal and a gracious entry, leading into light-filled interiors with ceilings, hardwood floors, and architectural details. The open plan allows for conversion into retail, gallery, office, or potential short-term rental, serving as a work-live property. Updated kitchen and baths ensure functionality. A primary suite with an adjoining sitting room and en suite could serve as a private office, meeting space, or on-site living quarters. Outdoor features include a covered porch and private yard, suitable for hosting events, entertaining clients, or expanding usable space. Located on a visible major thoroughfare, this property offers an opportunity to invest in the Marigny for retail, hospitality, or mixed-use ventures. The property size is 2029 square feet and the zoning is HMC-2.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0302
    Latitude
    29.9695

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    FAQs

    What type of property is this?
    Mixed-use property - Remodeled property near restaurants and shops, suitable for various uses.
    Where is this mixed-use property located?
    The property is located at 2404 ST CLAUDE Avenue New Orleans, LA.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Prime location in the vibrant Faubourg Marigny, steps from attractions and directly across from St. Roch Market.; Versatile open floor plan suitable for retail, gallery, office, or potential short‑term rental/work‑live space.; Listed on the National Register of Historic Places with preserved architectural character and modern updates.
    (504) 899-8666
    We can help!
    Listing Contact
    Aaron Dare
    Real Estate License ID: 995681183
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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