Mixed-Use Building with
For Sale
$679,000
323 VERRET Street, New Orleans, LA 70114
COMMERCIAL - New Orleans, LA
Property Size3,370 SF
Lot Size0.06 Acres
Price / SF$201.48
Days on Market49
Property Features for 323 VERRET Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-B1A
Lot features
Irregular
Subdivision
Algiers Point
Standard status
Active
APN
513101811
Size
3,370 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
SQ 17 REAR MOST PART OF LOT 8 AND LOT C OR NOW LOT X 45/12/27 X 70/59/32 323 VERRET ST
Legal Description
SQ 17 REAR MOST PART OF LOT 8 AND LOT C OR NOW LOT X 45/12/27 X 70/59/32 323 VERRET ST
Utilities
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Sally Crawford
(504) 300-0700
Added: Jun 17
Last Checked: Aug 4 at 3:06PM
MLS# 2563215
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 renovated 2022, two-story mixed-use building is described as a three-level property with ADA features. The ground floor is leased to an established restaurant under a long-term triple-net lease (in-place income is noted; the restaurant business is not included). The upper floor offers a fully renovated 1,315 SF 2BR/2BA residence, which can function as an owner’s suite or be used as a rental. A private rooftop is included, with the property remarks noting skyline and river views.
The building is located in the heart of historic Algiers Point, across the river from the French Quarter and the Canal St. ferry. Parking, specific street frontage details, and other site access information are not provided in the remarks.
For tenants, owners, and buyers seeking a live-and-lease setup, the combination of a leased ground-floor restaurant and an independently usable residence creates two stated income streams. Zoning is listed as HU-B1A, and the buyer is responsible for verifying all figures, zoning requirements, and lease terms.
The building is located in the heart of historic Algiers Point, across the river from the French Quarter and the Canal St. ferry. Parking, specific street frontage details, and other site access information are not provided in the remarks.
For tenants, owners, and buyers seeking a live-and-lease setup, the combination of a leased ground-floor restaurant and an independently usable residence creates two stated income streams. Zoning is listed as HU-B1A, and the buyer is responsible for verifying all figures, zoning requirements, and lease terms.
Key Highlights
- 2‑story mixed‑use building (three levels) built in 1910 with public water
- Renovated in 2022
- Ground floor leased to an established restaurant on a long‑term triple‑net lease, providing in‑place income (restaurant business not included)
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.7k | $19.20 |
| − Vacancy | −$1.3k | −$0.38 |
| EGI | $63.4k | $18.82 |
| − OpEx | −$15.9k | −$4.70 |
| NOI | $47.6k | $14.11 |
3,370 SF · lease $19.20/SF/yr · vacancy 2.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$679.4K
$594.5K – $792.6K
NOI $47,557 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$649.9K
$568.7K – $758.3K
NOI $45,495 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$856.5K
$749.5K – $999.3K
NOI $59,958 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in New Orleans, LA
Properties on Market for Mixed-use properties in New Orleans
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated 2022 mixed-use property with a leased restaurant and an upstairs 2BR/2BA residence plus private rooftop space.
Where is this mixed-use property located?
The property is located at 323 VERRET Street New Orleans, LA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 2‑story mixed‑use building (three levels) built in 1910 with public water; Renovated in 2022; Ground floor leased to an established restaurant on a long‑term triple‑net lease, providing in‑place income (restaurant business not included)
