New Orleans Mixed-Use
938 THALIA Street New Orleans, LA 70130
For Sale
$1,800,000
MULTI_FAMILY - New Orleans, LA
Property Size3,906 SF
Price / SF$460.83
Days on Market97
Property Features for 938 THALIA Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 938-THALIAST
- Size
- 3,906 SF
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2023
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Metal
- Architectural style
- Contemporary
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Scott Weston · License #995684661
(504) 605-4400
Added: Apr 22
Changed: May 14
Last Checked: Jul 27 at 6:06AM
MLS# 2554409
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.
Located at 938 Thalia Street in New Orleans, LA, this newly constructed mixed-use property sits in the Lower Garden District. Part of the Constance & Thalia development, designed by Studio BKA, the building features an architectural style blending Old World influences with modern Gulf Coast construction. The property offers flexible commercial space on the ground floor, suitable for boutique retail, office, or hospitality uses. A fully permitted commercial short term rental operates on the second floor with in-place management. The property includes a French Quarter style courtyard with a small dipping pool. Upper-level units feature white oak flooring and abundant natural light, with select units offering views toward downtown New Orleans. The building's total size is 3906 square feet. Situated minutes from the CBD and surrounded by residential density and neighborhood retail, this property presents an opportunity for investors and users seeking design-forward product in a high-demand urban setting.
Key Highlights
- Newly constructed (2023) mixed‑use property in the Lower Garden District.
- Fully permitted commercial short‑term rental on the second floor with in‑place management.
- Flexible ground floor commercial space suitable for retail, office, or hospitality.
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 | $89.1k | $22.80 |
| − Vacancy | −$12.3k | −$3.15 |
| EGI | $76.8k | $19.65 |
| − OpEx | −$19.2k | −$4.91 |
| NOI | $57.6k | $14.74 |
3,906 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$822.5K
$719.7K – $959.6K
NOI $57,575 @ 7.0% cap · market cap 3.20%
Second Best
Mixed Use
$753.3K
$659.1K – $878.9K
NOI $52,731 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$992.8K
$868.7K – $1.16M
NOI $69,494 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Newly constructed mixed-use property in the Lower Garden District.
Where is this mixed-use property located?
The property is located at 938 THALIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Newly constructed (2023) mixed‑use property in the Lower Garden District.; Fully permitted commercial short‑term rental on the second floor with in‑place management.; Flexible ground floor commercial space suitable for retail, office, or hospitality.
