Building Details

Year Built 1860

Buildings 1

Stories 3

Tenancy Multi

Listing Agency: NOLA Living Realty

Listed By: Tony Bertucci · License #995696844 Show Phone

Source: Dominionplace

Added: Oct 5 Changed: Oct 6 Last Checked: Oct 6 at 2:46AM

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Investment Insights

Based on property information with market context.

Built in 1860, this 4,110-square-foot property combines a commercial space at street level with two residential units on the second and third floors. The upper residences feature exposed brick, hardwood flooring, high ceilings, and natural light. Private wrought-iron balconies face Decatur Street, and the building’s plumbing, electrical, water and gas lines, electrical panels, and HVAC systems were updated approximately 3 years ago. All units are tenant-occupied.

The property is on Decatur Street in the French Quarter, near the Mississippi River, Jackson Square, and the French Market. The balconies offer partial river views.

Key Highlights

• 4,110‑square‑foot mixed‑use building constructed in 1860
• Street‑level commercial space with two residences on the second and third floors
• All units are tenant‑occupied

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,485

Cap Rate

3.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,109,700 $1.1M

Cap Rate 7%

$792,643 $792.6K

Cap Rate 9%

$616,500 $616.5K

Market Conditions

NOI Build-Up for 4,110 SF

Gross rent

$98.6K $24.00/SF

− Vacancy

−$9.9K −$2.40/SF

EGI

$88.8K $21.60/SF

− OpEx

−$33.3K −$8.10/SF

NOI

$55.5K $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 Rate 5%

$1,109,700

Cap Rate 7%

$792,643

Cap Rate 9%

$616,500

Alternative Uses

Best Use

Mixed Use

$792.6K

$693.6K – $924.8K (±1% cap)

NOI $55,485 @ 7.0% cap · market cap 3.70%

Second Best

Retail

$725.0K

$634.4K – $845.8K (±1% cap)

NOI $50,750 @ 7.0% cap · market cap 3.38%

Theoretical Best

Office A

$1.04M

$914.1K – $1.22M (±1% cap)

NOI $73,124 @ 7.0% cap · market cap 4.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Crescent City Conjure Religious Bookstore Moor Real Estate ... Property Management Company

Suggested Use

Top Pick Dental Office Daycare Center Kitchen & Bath Showroom Electrical Service Home Appliance Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,823

Businesses Nearby

Explore this area Business Placement

Demographics for 70116, LA

10,676

Population

9,620

Households

1.1

Avg Household Size

44

Median Age

50%

College-Educated

90%

High-School Grad

1.3 sq mi

ZIP Area

8,212

Density / Sq Mi

$45,580

Median Household Income

$34,849

Median Earnings

$1,190

Median Rent

$385,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-level commercial space is paired with two tenant-occupied residences on the upper floors.

Where is this mixed-use property located?

The property is located at 1224 Decatur St New Orleans, LA.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 4,110‑square‑foot mixed‑use building constructed in 1860; Street‑level commercial space with two residences on the second and third floors; All units are tenant‑occupied