Three-Unit Storefront
For Sale
$1,050,000
114 Baronne St, New Orleans, LA 70112
Leased multi-unit property with open ground-floor layouts and mezzanine areas suitable for office or storage use.
Property Size5,296 SF
Price / SF$198.26
Days on Market49
Property Features for 114 Baronne St
General Information
Standard status
Active
Size
5,296 SF
Occupancy
100%
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
Ben & Burka
(504) 301-1002
Listed By:
Aaron Kazanoff · License #0995700882
Source:
Dominionplace
Added: Jul 11
Changed: Aug 28
Last Checked: Aug 25 at 4:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ben & Burka
Investment Insights
Based on property information with market context.
Built in 1860, this storefront property is arranged as three leased units across ground- and third-floor space. The two ground-floor suites offer open layouts, prominent street-facing exposure, and mezzanine areas that can support office or storage functions. One suite operates as Cajun Mike’s Pub & Grill with a full kitchen, bar, and video poker, while another is occupied by a cell phone retailer. The third-floor space is used as a massage parlor and is leased month to month, providing flexibility for continued retail or office use.
The property is located at 114–116 Baronne Street in New Orleans’ CBD and is immediately adjacent to the Roosevelt Hotel. The Ritz-Carlton, Renaissance, and Wyndham Garden are also nearby, with the French Quarter and Canal Street within close proximity. The property is zoned CBD-2.
The property is located at 114–116 Baronne Street in New Orleans’ CBD and is immediately adjacent to the Roosevelt Hotel. The Ritz-Carlton, Renaissance, and Wyndham Garden are also nearby, with the French Quarter and Canal Street within close proximity. The property is zoned CBD-2.
Key Highlights
- Three leased units across ground- and third‑floor space
- Two ground‑floor suites with open layouts, street‑facing exposure, and mezzanine areas
- Cajun Mike’s Pub & Grill suite includes a full kitchen, bar, and video poker
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
$74,737
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
7.12%
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%
$1,494,740
$1.5M
Cap Rate 7%
$1,067,671
$1.1M
Cap Rate 9%
$830,411
$830.4K
Market Conditions
NOI Build-Up for 5,296 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
$101.7K $19.20/SF
− Vacancy
−$2.0K −$0.38/SF
EGI
$99.6K $18.82/SF
− OpEx
−$24.9K −$4.70/SF
NOI
$74.7K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /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%
$1,494,740
Cap Rate 7%
$1,067,671
Cap Rate 9%
$830,411
Alternative Uses
Best Use
Specialty Retail
$1.07M
$934.2K – $1.25M
NOI $74,737 @ 7.0% cap · market cap 7.12%
Second Best
Retail
$934.2K
$817.4K – $1.09M
NOI $65,395 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,225 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
11,352
Businesses Nearby
478k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 61%
Groceries 19%
Dining 10%
Shops & Services 7%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.1 miles
Rouses Market
Groceries
49,050 visits/mo
0.5 miles
Rouses Market
Groceries
35,073 visits/mo
0.5 miles
Chevron
Shops & Services
23,516 visits/mo
0.4 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.3 miles
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Leased multi-unit property with open ground-floor layouts and mezzanine areas suitable for office or storage use.
Where is this storefront property located?
The property is located at 114 Baronne St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three leased units across ground- and third‑floor space; Two ground‑floor suites with open layouts, street‑facing exposure, and mezzanine areas; Cajun Mike’s Pub & Grill suite includes a full kitchen, bar, and video poker
