Hotel Property with
For Sale
$4,750,000
124 S LOPEZ Street, New Orleans, LA 70119
Commercial Sale, New Orleans, LA
Property Size29,238 SF
Price / SF$162.46
Days on Market620
Property Features for 124 S LOPEZ Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Parking
3
Parking features
Parking Lot
Standard status
Active
APN
112-124-128-130-136-140-SLOPEZST
Size
29,238 SF
Tenancy & Operations
Currently Operating
Yes
Business Included
Yes
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
courtyard
above ground pool
music stage
Building Details
Year built
1920
Buildings
8
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown · Berkshire Hathaway HomeServices
(504) 799-1702
Listed By:
Nathalie J Dubois · License #995703042
(504) 610-0679
Added: Feb 10, 2025
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2486486
Copyright © 2026 ROAM MLS. 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 hotel property comprises six front buildings and two rear buildings arranged around a courtyard with an above-ground pool and music stage. The operating hostel has hotel and food-and-beverage licenses. Property size is 29,238 square feet, and the year built is 1920.
The property is on South Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. It has a parking lot, public water and sewer, and natural gas availability. Zoning is C.
The property is on South Lopez Street in New Orleans, approximately half a block from the Canal Street streetcar line. It has a parking lot, public water and sewer, and natural gas availability. Zoning is C.
Key Highlights
- Operating hostel with hotel and food‑and‑beverage licenses
- Six front buildings and two rear buildings
- Courtyard with above‑ground pool and music stage
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 - An operating, licensed hostel spans multiple buildings and includes outdoor gathering space, a pool, and on-site parking.
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: Operating hostel with hotel and food‑and‑beverage licenses; Six front buildings and two rear buildings; Courtyard with above‑ground pool and music stage
