Mid City Restaurant Space
For Sale
Contact for pricing
125 N Carrollton Ave, New Orleans, LA
Restaurant space for lease in prime Mid City location.
Property Size4,181 SF
Lot Size0.06 Acres
Price / SF$226.02
Days on Market279
Property Features for 125 N Carrollton Ave
General Information
Standard status
Active
Size
4,181 SF
Lot size
0.06 Acres
Property subtype
RETAIL
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: Aug 29 at 5:00PM
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
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
$59,002
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
6.24%
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%
$1,180,040
$1.2M
Cap Rate 7%
$842,886
$842.9K
Cap Rate 9%
$655,578
$655.6K
Market Conditions
NOI Build-Up for 4,181 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
$80.3K $19.20/SF
− Vacancy
−$1.6K −$0.38/SF
EGI
$78.7K $18.82/SF
− OpEx
−$19.7K −$4.70/SF
NOI
$59.0K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,180,040
Cap Rate 7%
$842,886
Cap Rate 9%
$655,578
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
Current Use
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
255k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Dining 20%
Shops & Services 19%
Apparel 11%
Rouses Market
Groceries
53,082 visits/mo
0.2 miles
Winn-Dixie
Groceries
44,604 visits/mo
0.2 miles
Marshalls
Apparel
28,965 visits/mo
0.3 miles
Capital One Bank
Shops & Services
15,621 visits/mo
0.1 miles
Shell
Shops & Services
12,425 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mayas Food Connection — 4301 Tulane Ave, New Orleans, LA 70119
- The High Horse Mobile Bar — 3828 Bienville St, New Orleans, LA 70119
- Toulouse Gourmet Catering — 3811 Toulouse St, New Orleans, LA 70119
- Sodexo — 4621 Canal 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.
