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    Commercial Property with Established Rental Use Title is generated by Realmo AI

    641 S SALCEDO Street, New Orleans, LA 70119

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    For Sale
    $225,000

    COMMERCIAL - New Orleans, LA

    Property size:
    1,005 SF
    Price / SF:
    $223/SF
    Added:
    Apr 15, 2026
    Days on Market:
    59
    Last Refresh:
    Jun 12 at 11:06 am

    Property Features for 641 S SALCEDO Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    MU
    Parking features
    Driveway, Off Street
    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

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    Listing Contact
    Cassondra Larsen
    Cassondra Larsen

    Listing agent Cassondra Larsen License #000028198

    Listing office KELLER WILLIAMS REALTY 455-0100 3500 N Causeway Blvd Suite 350, Metairie, LA

    Listing date Apr 15, 2026

    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.

    HighLights

    • Commercial‑zoned property operating as a short‑term rental with documented income history and professional management in place
    • 3‑bedroom, 1‑bath home updated with major improvements completed approximately 5 years ago, including roof and HVAC
    • Energy‑efficient windows
    • Off‑street parking plus driveway parking
    • Public water source
    • Year built: 1943

    Overview

    The commercially zoned property at 641 S Salcedo in New Orleans, LA, is currently operating as a short term rental. The 3-bedroom, 1-bath property has been updated with major improvements completed approximately five years ago, including the roof and HVAC. The property also features energy-efficient windows and off-street parking. The property is 1005 square feet. The current use and zoning create a strong position for a buyer seeking a property that is already functioning within the short term rental space. There may be an opportunity for a buyer to continue operations within an existing structure, subject to their own due diligence and city requirements. This offering is well suited for an investor, part-time owner, or buyer seeking a flexible-use property in a high-demand location with proximity to the medical corridor, downtown, and major New Orleans attractions.

    Local Financial Insights For Apartment 5plus

    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 $23.4k $23.28
    − Vacancy −$2.1k −$2.12
    EGI $21.3k $21.16
    − OpEx −$9.6k −$9.52
    NOI $11.7k $11.64
    1,005 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $167.1K
    $146.2K – $195.0K (±1% cap)
    NOI $11,697 @ 7.0% cap · market cap 5.20%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $263.0K
    $230.1K – $306.8K (±1% cap)
    NOI $18,408 @ 7.0% cap · market cap 8.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    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
    -90.0961061
    Latitude
    29.9631594

    FAQs

    What type of property is this?
    Short term rental property - Commercially zoned property operating as a short term rental.
    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 $225,000.
    What are key features of this property?
    This property features: Commercial‑zoned property operating as a short‑term rental with documented income history and professional management in place; 3‑bedroom, 1‑bath home updated with major improvements completed approximately 5 years ago, including roof and HVAC; Energy‑efficient windows
    More about this property
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