Triplex with Updated
For Sale
$569,000
1222 South Salcedo Street, New Orleans, LA 70125
Tenant-occupied building with off-street parking, central air, and a flexible multi-unit configuration.
Property Size3,842 SF
Price / SF$148.10
Days on Market208
Property Features for 1222 South Salcedo Street
General Information
Standard status
Active
Size
3,842 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Gross Income
$52,740
Multifamily Units
3
Amenities
off-street parking
Central Air
Central
2
4
8
Asphalt
Other
Balcony
Slab: Traditional
Block, Brick, Other
Building Details
Year Built
1922
Listing Agency:
Talbot Realty Group
(504) 319-1452
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Compass
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 2:54PM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
This tenant-occupied triplex contains approximately 3,842 square feet arranged across three residential units. The property features updated interiors, central air, off-street parking, and a balcony, with a layout suited to its multi-unit configuration. The building was constructed in 1922 and includes asphalt, block, brick, and other exterior materials over a traditional slab foundation.
Located at 1222 South Salcedo Street in New Orleans, the property is offered for sale as part of a larger portfolio. Its existing occupancy and three-unit design provide a defined multifamily format for review.
Located at 1222 South Salcedo Street in New Orleans, the property is offered for sale as part of a larger portfolio. Its existing occupancy and three-unit design provide a defined multifamily format for review.
Key Highlights
- 3‑unit multifamily property
- Approximately 3,842 square feet
- Tenant‑occupied configuration
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
$48,649
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
8.55%
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%
$972,980
$973.0K
Cap Rate 7%
$694,986
$695.0K
Cap Rate 9%
$540,544
$540.5K
Market Conditions
NOI Build-Up for 3,842 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
$76.1K $19.80/SF
− Vacancy
−$6.6K −$1.71/SF
EGI
$69.5K $18.09/SF
− OpEx
−$20.8K −$5.43/SF
NOI
$48.6K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$972,980
Cap Rate 7%
$694,986
Cap Rate 9%
$540,544
Alternative Uses
Best Use
Multifamily LT 5
$695.0K
$608.1K – $810.8K
NOI $48,649 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$638.8K
$559.0K – $745.3K
NOI $44,716 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$976.5K
$854.5K – $1.14M
NOI $68,356 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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?
Triplex - Tenant-occupied building with off-street parking, central air, and a flexible multi-unit configuration.
Where is this triplex located?
The property is located at 1222 South Salcedo Street New Orleans, LA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 3‑unit multifamily property; Approximately 3,842 square feet; Tenant‑occupied configuration
