Mid City Restaurant Space
125 N Carrollton Ave New Orleans, LA
For Sale
Contact for pricing
Restaurant space for lease in prime Mid City location.
Property Size4,181 SF
Lot Size0.06 Acres
Price / SF$226.02
Days on Market248
Property Features for 125 N Carrollton Ave
General Information
Standard status
Active
Size
4,181 SF
Lot size
0.06 Acres
Property subtype
RETAIL
Properties For Sale
at 125 N Carrollton Ave Contact us
Listing Agency:
ben + burka
(512) 799-3069
Listed By:
Aaron Kazanoff · License #0995700882
(512) 799-3069
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:12AM
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 ben + burka
Investment Insights
Based on property information with market context.
This ideally located restaurant space is available for lease in Mid City. Situated on Carrollton Avenue, just off Canal Street, the property was last operated as The Italian Pie. The ground floor, approximately 2,000 square feet, is fully built out as a restaurant space. It includes a hood, grease trap, bar, kitchen equipment, and FF&E, but requires updating due to being vacant for several years. The upstairs space is currently in shell condition and has separate access. It is suitable for additional dining space, office space, or conversion to a residential unit. The HU-MU zoning allows for various uses, including retail, office, restaurant, and other commercial and residential purposes. The property is in the heart of Mid City, near Zasu, Revel Cafe & Bar, Angelo Brocato, Mr. Ed’s, Ikura, Wit’s Inn, Cafe Minh, and numerous other local and national restaurants and retailers. The total property size is 4,181 square feet.
Key Highlights
- Prime Mid City location on Carrollton Avenue, near Canal Street, with high foot traffic and visibility.
- Existing restaurant build‑out on the ground floor (approx. 2,000 SF) including hood, grease trap, bar, kitchen equipment, and FF&E.
- HU‑MU zoning allows for diverse uses including restaurant, retail, office, commercial, and residential.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.3k | $19.20 |
| − Vacancy | −$1.6k | −$0.38 |
| EGI | $78.7k | $18.82 |
| − OpEx | −$19.7k | −$4.70 |
| NOI | $59.0k | $14.11 |
4,181 SF · lease $19.20/SF/yr · vacancy 2.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$842.9K
$737.5K – $983.4K
NOI $59,002 @ 7.0% cap · market cap 6.24%
Second Best
Retail
$737.5K
$645.3K – $860.5K
NOI $51,627 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.06M
$929.8K – $1.24M
NOI $74,387 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Mayas Food Connection — 4301 Tulane Ave, New Orleans, LA 70119
- Sodexo — 4621 Canal St, New Orleans, LA 70119
- Toulouse Gourmet Catering — 3811 Toulouse St, New Orleans, LA 70119
- The High Horse Mobile Bar — 3828 Bienville St, New Orleans, LA 70119
Frequently Asked Questions
What type of property is this?
Restaurant - Restaurant space for lease in prime Mid City location.
Where is this restaurant located?
The property is located at 125 N Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Prime Mid City location on Carrollton Avenue, near Canal Street, with high foot traffic and visibility.; Existing restaurant build‑out on the ground floor (approx. 2,000 SF) including hood, grease trap, bar, kitchen equipment, and FF&E.; HU‑MU zoning allows for diverse uses including restaurant, retail, office, commercial, and residential.
