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    Renovated Six-Unit Compound in New Orleans Title is generated by Realmo AI

    1201 Baronne Street, New Orleans, LA 70113

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    For Sale
    $2,335,000

    Fully renovated six-unit compound with gated parking and MU-2 zoning.

    Type:MULTI FAMILY FOR SALE / Townhouse
    Property size:
    6,849 SF
    Price / SF:
    $340/SF
    Added:
    Dec 9, 2024
    Days on Market:
    540
    Last Refresh:
    Mar 13 at 6:19 pm

    Property Features for 1201 Baronne Street

    General Information

    Standard status
    Active
    Size
    6,849 SF
    Property subtype
    MULTI FAMILY FOR SALE / Townhouse

    Building Details

    Year Built
    1867

    We can help!

    Listing Contact
    Chris Smith
    Chris Smith

    Listing agent Chris Smith License #000009641

    Listing office Keller Williams Realty New Orleans

    Listing date Dec 9, 2024

    Source Compass

    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 Keller Williams Realty New Orleans

    HighLights

    • Prime location: Situated in the heart of the action, just blocks from the Central Business District, Warehouse District, Superdome, and Smoothie King Center.
    • Fully renovated six‑unit compound: Offers a diverse mix of unit types with modern amenities and designer finishes, ready for immediate occupancy.
    • MU‑2 Zoning: Provides exceptional flexibility for various high‑yield use cases, including short‑term rentals, corporate housing, or boutique hospitality.
    • Gated off‑street parking: Ensures security and convenience for residents and guests.
    • Turn‑key investment: Requires zero deferred maintenance and is positioned for immediate income generation.
    • In‑unit laundry and central HVAC: Provides convenience and comfort for all units.

    Overview

    This fully renovated six-unit compound is located in Central City, two blocks from the Central Business District and the Warehouse District. The property features a mix of unit types, each with private entries and curated interiors. There is one 3-bedroom, 2.5-bath residence, two 2-bedroom, 2-bath units, two 1-bedroom, 1.5-bath units, and one 2-bedroom, 2-bath unit. Each unit includes central HVAC, in-unit laundry, and designer finishes with architectural details. The property is located blocks from the Superdome and the Smoothie King Center. The location is suitable for corporate housing, artist-in-residence housing, athlete or performer lodging, boutique hospitality, or co-living investment. The MU-2 Zoning allows for flexible term rental portfolio, nonprofit headquarters with lodging, medical travel lodging hub, or executive relocation suites. The property has gated off-street parking and no deferred maintenance. The property size is 6849 square feet.
    Location Intelligence

    Current Use by Public Records

    Residences du Baronne ... Vacation Rental One Stop Water ... Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0764896
    Latitude
    29.942716

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated six-unit compound with gated parking and MU-2 zoning.
    Where is this apartment building located?
    The property is located at 1201 Baronne Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $2,335,000.
    What are key features of this property?
    This property features: Prime location: Situated in the heart of the action, just blocks from the Central Business District, Warehouse District, Superdome, and Smoothie King Center.; Fully renovated six‑unit compound: Offers a diverse mix of unit types with modern amenities and designer finishes, ready for immediate occupancy.; MU‑2 Zoning: Provides exceptional flexibility for various high‑yield use cases, including short‑term rentals, corporate housing, or boutique hospitality.
    (504) 231-2004
    We can help!
    Listing Contact
    Chris Smith
    Chris Smith
    Real Estate License ID: 000009641
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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