Rehabilitated Mixed-Use
For Sale
$1,000,000
601 EIGHTH Street, New Orleans, LA 70115
Commercial, New Orleans, LA
Property Size3,844 SF
Price / SF$260.15
Days on Market94
Property Features for 601 EIGHTH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CU
Lot features
Regular
Subdivision
Irish Channel
Standard status
Active
APN
601-8THST
Size
3,844 SF
Taxes and HOA fees
Tax Description
As Per Title
Legal Description
As Per Title
Utilities
Water source
Public
Amenities
deep balcony
Building Details
Year built
1830
Floors in Building
2
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Frederick Lemann
(504) 460-6340
Added: Jun 15
Changed: Aug 19
Last Checked: Sep 16 at 1:06AM
MLS# 2563128
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 3,844-square-foot mixed-use property at 601 EIGHTH Street pairs an income-producing first-floor space with a second-floor residence. The home provides three bedrooms and three baths within an open layout featuring a sophisticated kitchen, vaulted nickel gap ceilings, natural light, a deep balcony, and heart pine flooring. Both units are occupied.
The property dates to 1830 and was rebuilt with new framing, structural beams, a fortified metal roof, updated plumbing and electrical systems, ADA-accessible design, and full fire-safety compliance. Public water serves the property. Its corner position places it in New Orleans’ Irish Channel area near the Tchoupitoulas corridor. The building’s earlier connection to Fabacher Brewing Company as a stable is part of its documented history.
The property dates to 1830 and was rebuilt with new framing, structural beams, a fortified metal roof, updated plumbing and electrical systems, ADA-accessible design, and full fire-safety compliance. Public water serves the property. Its corner position places it in New Orleans’ Irish Channel area near the Tchoupitoulas corridor. The building’s earlier connection to Fabacher Brewing Company as a stable is part of its documented history.
Key Highlights
- 3,844‑square‑foot mixed‑use property with an occupied first‑floor commercial space and second‑floor residence
- Second‑floor home includes 3 bedrooms, 3 baths, an open floor plan, and a deep balcony
- Ground‑up rebuild included new framing, structural beams, plumbing, electrical, and a fortified metal roof
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
$46,705
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
4.67%
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%
$934,100
$934.1K
Cap Rate 7%
$667,214
$667.2K
Cap Rate 9%
$518,944
$518.9K
Market Conditions
NOI Build-Up for 3,844 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
$83.0K $21.60/SF
− Vacancy
−$8.3K −$2.16/SF
EGI
$74.7K $19.44/SF
− OpEx
−$28.0K −$7.29/SF
NOI
$46.7K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$934,100
Cap Rate 7%
$667,214
Cap Rate 9%
$518,944
Alternative Uses
Best Use
Mixed Use
$667.2K
$583.8K – $778.4K
NOI $46,705 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.4K – $1.18M
NOI $70,991 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two occupied spaces combine a three-bedroom residence with first-floor commercial area under CU zoning.
Where is this mixed-use property located?
The property is located at 601 EIGHTH Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,844‑square‑foot mixed‑use property with an occupied first‑floor commercial space and second‑floor residence; Second‑floor home includes 3 bedrooms, 3 baths, an open floor plan, and a deep balcony; Ground‑up rebuild included new framing, structural beams, plumbing, electrical, and a fortified metal roof
