Mixed-Use Corner Retail
5537 CANAL Boulevard New Orleans, LA 70124
5537 CANAL Boulevard, New Orleans, LA, 70124
$749,000
For Sale
$749,000
Mixed-use corner building with showcase windows and two commercial units plus a two-bedroom residential unit with gated parking.
Property Size2,278 SF
Price / SF$328.80
Days on Market458
Property Features for 5537 CANAL Boulevard
General Information
- Standard status
- Active
- Size
- 2,278 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1927
Listing agency
Crescent Sotheby's International
(504) 650-3912
Listed by
Dawnne Keeney · License #995696801
(504) 650-3912
Source
Xome
Added: Apr 21, 2025 Updated: Jul 22 at 12:04AM Checked: Jul 22 at 3:35AM
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 Crescent Sotheby's International
Investment Insights
Based on property information with market context.
This mixed-use corner property includes one two-bedroom, 2.5-bath two-story residential unit and two separate commercial units of approximately 500 SF each, with the option to combine the retail spaces into a contiguous layout. The commercial units feature showcase windows, and the building offers exterior doors on all four sides, supporting flexible interior reconfiguration. The residential unit includes a private driveway with gated parking for one car, currently used as a courtyard with a Jacuzzi. The lower floor provides a living room, one bedroom, a half bath, and a laundry/storage room, along with a side exterior entrance. The upper floor includes a full kitchen with breakfast bar, dining area, a large bedroom, and a full bath with a jetted tub, plus a balcony overlooking the courtyard.
The two commercial units are currently operated by the owners as a hair salon and a music studio. The sellers also occupy the residential space on a part-time basis, offering a built-in live/work arrangement. The property is located on a Canal Boulevard corner across from retail and dining activity, with walk and drive-by exposure, and is approximately five blocks to City Park and five blocks to the streetcar.
With the ability to keep the commercial units separated or combined, and the exterior access points around the building, the interior layout can be adapted to suit a range of retail or studio configurations.
The two commercial units are currently operated by the owners as a hair salon and a music studio. The sellers also occupy the residential space on a part-time basis, offering a built-in live/work arrangement. The property is located on a Canal Boulevard corner across from retail and dining activity, with walk and drive-by exposure, and is approximately five blocks to City Park and five blocks to the streetcar.
With the ability to keep the commercial units separated or combined, and the exterior access points around the building, the interior layout can be adapted to suit a range of retail or studio configurations.
Key Highlights
- NC‑zoned mixed‑use corner building (2‑story residential plus two commercial units) with parking and showcase windows
- Two 500 SF commercial units that could be combined into one contiguous space; currently occupied as a hair salon and music studio
- One 2‑bedroom, 2.5‑bath two‑story residential unit with gated parking for 1 car via a private driveway
Local Financial Insights For Office B
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 | $51.9k | $22.80 |
| − Vacancy | −$7.2k | −$3.15 |
| EGI | $44.8k | $19.65 |
| − OpEx | −$11.2k | −$4.91 |
| NOI | $33.6k | $14.74 |
2,278 SF · lease $22.80/SF/yr · vacancy 13.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$479.7K
$419.7K – $559.6K
NOI $33,578 @ 7.0% cap · market cap 4.48%
Second Best
Mixed Use
$439.3K
$384.4K – $512.6K
NOI $30,753 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$579.0K
$506.6K – $675.5K
NOI $40,529 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Progressive Guitar Studio
Training Center
Patriot Radio Books
Publishing House
Cut Loose Hair ...
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Mixed-use corner building with showcase windows and two commercial units plus a two-bedroom residential unit with gated parking.
Where is this live-work space located?
The property is located at 5537 CANAL Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: NC‑zoned mixed‑use corner building (2‑story residential plus two commercial units) with parking and showcase windows; Two 500 SF commercial units that could be combined into one contiguous space; currently occupied as a hair salon and music studio; One 2‑bedroom, 2.5‑bath two‑story residential unit with gated parking for 1 car via a private driveway
