Mixed-Use Building with
641 S SALCEDO Street New Orleans, LA 70119
For Sale
$200,000
COMMERCIAL - New Orleans, LA
Property Size1,005 SF
Price / SF$199
Days on Market105
Property Features for 641 S SALCEDO Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Parking features
Off Street, Driveway
Standard status
Active
APN
421-SSALCEDOST
Size
1,005 SF
Taxes and HOA fees
Tax Description
SQ 652 LOT C OR PT LOTS 1 2SALCEDO 27 3X58 8
Utilities
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Cassondra Larsen · License #000028198
(504) 628-4686
Added: Apr 15
Changed: Jul 26
Last Checked: Jul 28 at 3:06PM
MLS# 2552994
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 mixed-use (MU) zoned building offers a compact layout with three private rooms, a full bath, and an updated kitchen. Interior finishes include hardwood floors, and the property has energy-efficient windows. Major system improvements include a roof and HVAC, approximately five years old, with a documented history as a professionally managed short-term rental.
The property is positioned in Mid-City, just blocks from the New Orleans BioMedical District and within minutes of University Medical Center and the VA Hospital. It is also described as being near the Tulane Avenue corridor, Downtown, and the French Quarter, with access to the interstate area.
The site includes gated off-street parking, supporting flexible use for an owner-user, live/work arrangement, or other permitted mixed-use applications (buyer to verify intended uses with the City of New Orleans).
The property is positioned in Mid-City, just blocks from the New Orleans BioMedical District and within minutes of University Medical Center and the VA Hospital. It is also described as being near the Tulane Avenue corridor, Downtown, and the French Quarter, with access to the interstate area.
The site includes gated off-street parking, supporting flexible use for an owner-user, live/work arrangement, or other permitted mixed-use applications (buyer to verify intended uses with the City of New Orleans).
Key Highlights
- 1,005+/- SF building built in 1943 with three private rooms and 1 full bath
- MU mixed‑use zoning allows a range of potential uses (buyer to verify permitted uses with the City of New Orleans)
- Professionally managed short‑term rental operating history documented for income‑producing capability
Financial Insights For Office B
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 | $24.1k | $24.00 |
| − Vacancy | −$4.2k | −$4.20 |
| EGI | $19.9k | $19.80 |
| − OpEx | −$5.0k | −$4.95 |
| NOI | $14.9k | $14.85 |
1,005 SF · lease $24.00/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$213.2K
$186.6K – $248.7K
NOI $14,924 @ 7.0% cap · market cap 7.46%
Second Best
Mixed Use
$189.5K
$165.8K – $221.1K
NOI $13,266 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$263.0K
$230.1K – $306.8K
NOI $18,408 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Short term rental property - Mixed-use zoned property with updated kitchen, three private rooms, full bath, hardwood floors, and gated off-street parking.
Where is this short term rental property located?
The property is located at 641 S SALCEDO Street New Orleans, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,005+/- SF building built in 1943 with three private rooms and 1 full bath; MU mixed‑use zoning allows a range of potential uses (buyer to verify permitted uses with the City of New Orleans); Professionally managed short‑term rental operating history documented for income‑producing capability
