Raised Mixed-Use
For Sale
$320,000
4031 ST CLAUDE Avenue, New Orleans, LA 70117
Commercial, New Orleans, LA
Property Size1,799 SF
Price / SF$177.88
Days on Market309
Property Features for 4031 ST CLAUDE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Parking features
Driveway
Lot features
Oversized
Subdivision
Bywater
Standard status
Active
APN
4031-STCLAUDEAV
Size
1,799 SF
Taxes and HOA fees
Tax Description
SQ 411 LOT 8 ST CLAUDE 30 X 117 2 STY DOUBLE 2001 ASSESSED 39W208906 4031-33 ST CLAUDE AVE
Legal Description
SQ 411 LOT 8 ST CLAUDE 30 X 117 2 STY DOUBLE 2001 ASSESSED 39W208906 4031-33 ST CLAUDE AVE
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Patrick Knudsen · License #000076564
(504) 858-0623
Added: Nov 5, 2025
Changed: Sep 6
Last Checked: Sep 10 at 8:06PM
MLS# 2529436
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 1,799-square-foot raised mixed-use building, constructed in 1900, combines two upper-level residential units with workshop and music studio areas on the ground floor. The upper units are occupied by residential tenants, while all lease agreements are month-to-month. A driveway provides on-site parking, and the property has public water service.
Located at 4031 St. Claude Avenue in New Orleans, the property carries HMC-2 zoning. The zoning permits a range of potential applications identified for the site, including hotel or motel use, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio space. The structure is preliminarily qualified for Historic Tax Credits as a contributing building within the St. Claude Corridor Cultural District. The property is offered in its existing condition.
Located at 4031 St. Claude Avenue in New Orleans, the property carries HMC-2 zoning. The zoning permits a range of potential applications identified for the site, including hotel or motel use, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio space. The structure is preliminarily qualified for Historic Tax Credits as a contributing building within the St. Claude Corridor Cultural District. The property is offered in its existing condition.
Key Highlights
- 1,799‑square‑foot raised mixed‑use building constructed in 1900
- Two upper residential units with month‑to‑month lease agreements
- Ground‑floor workshop and music studio areas
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
$26,518
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
8.29%
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%
$530,360
$530.4K
Cap Rate 7%
$378,829
$378.8K
Cap Rate 9%
$294,644
$294.6K
Market Conditions
NOI Build-Up for 1,799 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
$41.0K $22.80/SF
− Vacancy
−$5.7K −$3.15/SF
EGI
$35.4K $19.65/SF
− OpEx
−$8.8K −$4.91/SF
NOI
$26.5K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$530,360
Cap Rate 7%
$378,829
Cap Rate 9%
$294,644
Alternative Uses
Best Use
Office B
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$347.0K
$303.6K – $404.8K
NOI $24,287 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$457.2K
$400.1K – $533.5K
NOI $32,007 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - HMC-2 zoning permits varied commercial, creative, hospitality, and adaptive-reuse applications.
Where is this mixed-use property located?
The property is located at 4031 ST CLAUDE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,799‑square‑foot raised mixed‑use building constructed in 1900; Two upper residential units with month‑to‑month lease agreements; Ground‑floor workshop and music studio areas
