Historic Mixed-Use
For Sale
Contact for pricing
1205 Bienville St, New Orleans, LA 70112
Two-level property combines a vacant commercial floor with planned residential space above.
Property Size4,237 SF
Price / SF$230.12
Days on Market145
Property Features for 1205 Bienville St
General Information
Standard status
Active
Size
4,237 SF
Property subtype
Mixed Use, Office, Retail
Zoning
HU-MU
Building Details
Year Built
1897
Buildings
1
Stories
2
Listing Agency:
Z Group
(504) 452-2133
Listed By:
Zella May · License #LA 995704404
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 7:35PM
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 Z Group
Investment Insights
Based on property information with market context.
Built in 1897, this 4,237-square-foot mixed-use property includes an unoccupied convenience-store floor and a second level planned for a three-bedroom, two-bath apartment. The ground floor layout can be adapted for restaurant, retail, or office use, while the upper-level renovation plans are included with the sale.
The building is in New Orleans’ historic Storyville district, near Basin and Canal Street. Renovation plans have received approval from the Historic District Landmarks Commission and the Department of Safety and Permits. Architectural drawings cover both the apartment renovation and a restaurant concept for the commercial level. The property also has approval for Part I and II Federal and State Historic Tax Credits. Zoning is HU-MU.
The building is in New Orleans’ historic Storyville district, near Basin and Canal Street. Renovation plans have received approval from the Historic District Landmarks Commission and the Department of Safety and Permits. Architectural drawings cover both the apartment renovation and a restaurant concept for the commercial level. The property also has approval for Part I and II Federal and State Historic Tax Credits. Zoning is HU-MU.
Key Highlights
- 4,237‑square‑foot mixed‑use building constructed in 1897
- HU‑MU zoning in New Orleans’ historic Storyville district
- Ground floor currently configured as an unoccupied convenience store
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
$57,200
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
5.87%
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%
$1,144,000
$1.1M
Cap Rate 7%
$817,143
$817.1K
Cap Rate 9%
$635,556
$635.6K
Market Conditions
NOI Build-Up for 4,237 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 $24.00/SF
− Vacancy
−$10.2K −$2.40/SF
EGI
$91.5K $21.60/SF
− OpEx
−$34.3K −$8.10/SF
NOI
$57.2K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /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%
$1,144,000
Cap Rate 7%
$817,143
Cap Rate 9%
$635,556
Alternative Uses
Best Use
Mixed Use
$817.1K
$715.0K – $953.3K
NOI $57,200 @ 7.0% cap · market cap 5.87%
Second Best
Retail
$747.4K
$654.0K – $872.0K
NOI $52,318 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$1.08M
$942.3K – $1.26M
NOI $75,383 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,709
Businesses Nearby
272k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 69%
Shops & Services 13%
Dining 9%
Apparel 4%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.3 miles
Chevron
Shops & Services
23,516 visits/mo
0.2 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.4 miles
Wyndham New Orleans - French Quarter
Hotels & Casinos
15,753 visits/mo
0.5 miles
Hampton Inn & Suites New Orleans Downtown
Hotels & Casinos
15,344 visits/mo
0.5 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?
Mixed-use property - Two-level property combines a vacant commercial floor with planned residential space above.
Where is this mixed-use property located?
The property is located at 1205 Bienville St New Orleans, LA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,237‑square‑foot mixed‑use building constructed in 1897; HU‑MU zoning in New Orleans’ historic Storyville district; Ground floor currently configured as an unoccupied convenience store
