Mixed-Use Building With Rooftop
For Sale
$999,999
1216-18 SAINT CHARLES Avenue, New Orleans, LA 70130
Street-level commercial space is paired with three residential units and private outdoor areas.
Property Size3,557 SF
Price / SF$281.14
Days on Market240
Property Features for 1216-18 SAINT CHARLES Avenue
General Information
Standard status
Active
Size
3,557 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
courtyard
rooftop terrace
3
MU-1
No Parking.
Rectangular
26x135
Rectangular.
Building Details
Year Built
1942
Tenancy
Multi
Listing Agency:
McEnery Residential, LLC
(504) 782-2269
Listed By:
Adele Hunt · License #995683195
(504) 782-2269
Source:
Xome
Added: Jan 3
Changed: Aug 30
Last Checked: Aug 31 at 1:15PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
This 3,557-square-foot mixed-use building, constructed in 1942, combines a leased commercial space at street level with three residential units. The property includes a private courtyard with mature landscaping and a rooftop terrace reached directly from one of the residences.
Positioned on St. Charles Avenue, the property offers access to downtown New Orleans and nearby interstate connections. MU-1 zoning is identified for the site, which has a rectangular 26x135 configuration and no on-site parking. The combination of commercial and residential components creates a distinct urban property profile along the corridor.
Positioned on St. Charles Avenue, the property offers access to downtown New Orleans and nearby interstate connections. MU-1 zoning is identified for the site, which has a rectangular 26x135 configuration and no on-site parking. The combination of commercial and residential components creates a distinct urban property profile along the corridor.
Key Highlights
- 3,557‑square‑foot mixed‑use building with a leased street‑level commercial space
- Three residential units accompany the commercial component
- Private courtyard with mature landscaping
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
$48,020
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
4.80%
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%
$960,400
$960.4K
Cap Rate 7%
$686,000
$686.0K
Cap Rate 9%
$533,556
$533.6K
Market Conditions
NOI Build-Up for 3,557 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
$85.4K $24.00/SF
− Vacancy
−$8.5K −$2.40/SF
EGI
$76.8K $21.60/SF
− OpEx
−$28.8K −$8.10/SF
NOI
$48.0K $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%
$960,400
Cap Rate 7%
$686,000
Cap Rate 9%
$533,556
Alternative Uses
Best Use
Mixed Use
$686.0K
$600.3K – $800.3K
NOI $48,020 @ 7.0% cap · market cap 4.80%
Second Best
Multifamily LT 5
$643.4K
$563.0K – $750.7K
NOI $45,040 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$904.1K
$791.1K – $1.05M
NOI $63,285 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with three residential units and private outdoor areas.
Where is this mixed-use property located?
The property is located at 1216-18 SAINT CHARLES Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 3,557‑square‑foot mixed‑use building with a leased street‑level commercial space; Three residential units accompany the commercial component; Private courtyard with mature landscaping
