Licensed Hotel with Courtyard
For Sale
$5,900,000
124 S LOPEZ Street, New Orleans, LA 70119
Operating hospitality property with food and beverage licensing, multiple buildings, guest accommodations, parking, and event-oriented outdoor amenities.
Property Size29,950 SF
Price / SF$196.99
Days on Market639
Property Features for 124 S LOPEZ Street
General Information
Standard status
Active
Size
29,950 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Amenities
large courtyard
above ground pool
music stage
3
C
Parking.
Lot.
25269
Oversized Lot.
Building Details
Year Built
1920
Buildings
8
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 610-0679
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Source:
Xome
Added: Nov 29, 2024
Changed: Aug 30
Last Checked: Aug 30 at 3:27PM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
India House is an operating hotel property with a hotel business license and a food and beverage license. The property includes six front buildings and two rear buildings, along with guest accommodations, shared-bath dormitory beds, and private rooms. Outdoor improvements include a large courtyard, an above-ground pool, a music stage, and parking.
The property is located at 124 S Lopez Street in New Orleans, near the Canal Street streetcar line. Its configuration supports continued hospitality operations, while the source information also identifies potential for residential, hotel, retail, and restaurant uses under the applicable zoning designation.
Established in 1990, the property combines multiple structures with common outdoor areas and existing hospitality-related improvements. The listing also includes additional addresses along South Lopez Street associated with the property.
The property is located at 124 S Lopez Street in New Orleans, near the Canal Street streetcar line. Its configuration supports continued hospitality operations, while the source information also identifies potential for residential, hotel, retail, and restaurant uses under the applicable zoning designation.
Established in 1990, the property combines multiple structures with common outdoor areas and existing hospitality-related improvements. The listing also includes additional addresses along South Lopez Street associated with the property.
Key Highlights
- Hotel business license and food and beverage license in place
- 27‑key hospitality property with 32 dormitory beds
- Six front buildings and two rear buildings
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
$166,447
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
2.82%
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%
$3,328,940
$3.3M
Cap Rate 7%
$2,377,814
$2.4M
Cap Rate 9%
$1,849,411
$1.8M
Market Conditions
NOI Build-Up for 29,950 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
$539.1K $18.00/SF
− Vacancy
−$188.7K −$6.30/SF
EGI
$350.4K $11.70/SF
− OpEx
−$184.0K −$6.14/SF
NOI
$166.4K $5.56/SF
Area
ZIP 70119
Vacancy
35.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$3,328,940
Cap Rate 7%
$2,377,814
Cap Rate 9%
$1,849,411
Alternative Uses
Best Use
Hotel Hospitality
$2.38M
$2.08M – $2.77M
NOI $166,447 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.84M
$6.86M – $9.14M
NOI $548,588 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Operating hospitality property with food and beverage licensing, multiple buildings, guest accommodations, parking, and event-oriented outdoor amenities.
Where is this hotel located?
The property is located at 124 S LOPEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Hotel business license and food and beverage license in place; 27‑key hospitality property with 32 dormitory beds; Six front buildings and two rear buildings
