Hotel with Courtyard
For Sale
$4,750,000
124 S LOPEZ Street, New Orleans, LA 70119
Commercial, New Orleans, LA
Property Size29,238 SF
Price / SF$162.46
Days on Market623
Property Features for 124 S LOPEZ Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Lot features
Oversized
Standard status
Active
APN
112-124-128-130-136-140-SLOPEZST
Size
29,238 SF
Utilities
Water source
Public
Amenities
courtyard
above ground pool
music stage
Building Details
Year built
1920
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Nathalie Dubois
(504) 610-0679
Added: Feb 10, 2025
Changed: Oct 19
Last Checked: Oct 26 at 7:06AM
MLS# 2486486
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 29,238-square-foot hotel property was built in 1920 and is arranged across six front buildings and two rear buildings. The accommodation program includes 27 keys, 27 private rooms with full baths, and a 32-bed dormitory configuration with shared bathrooms. A hotel business license and food and beverage license are in place.
The property is located at 124 S Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. On-site features include a large courtyard, above-ground pool, music stage, and parking. Zoning is C, with the source describing support for residential and hotel uses as well as retail and restaurant possibilities. Public water service is available.
The property is located at 124 S Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. On-site features include a large courtyard, above-ground pool, music stage, and parking. Zoning is C, with the source describing support for residential and hotel uses as well as retail and restaurant possibilities. Public water service is available.
Key Highlights
- 29,238 square feet on a 0.67‑acre property
- 27 keys with 27 private rooms and full baths
- 32‑bed dormitory accommodation with shared bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,490
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,249,800
$3.2M
Cap Rate 7%
$2,321,286
$2.3M
Cap Rate 9%
$1,805,444
$1.8M
Market Conditions
NOI Build-Up for 29,238 SF
Gross rent
$526.3K $18.00/SF
− Vacancy
−$184.2K −$6.30/SF
EGI
$342.1K $11.70/SF
− OpEx
−$179.6K −$6.14/SF
NOI
$162.5K $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 Rate 5%
$3,249,800
Cap Rate 7%
$2,321,286
Cap Rate 9%
$1,805,444
Alternative Uses
Best Use
Hotel Hospitality
$2.32M
$2.03M – $2.71M
NOI $162,490 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.65M
$6.69M – $8.93M
NOI $535,547 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Hotel - Hospitality property offers private-room and dormitory accommodations, food-and-beverage licensing, and an outdoor guest area.
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 $4,750,000.
What are key features of this property?
This property features: 29,238 square feet on a 0.67‑acre property; 27 keys with 27 private rooms and full baths; 32‑bed dormitory accommodation with shared bathrooms
