Hospitality and Rental
For Sale
$850,000
2109-11 Chartres St, New Orleans, LA 70116
HMC-1 zoned property with two updated 1-bedroom units, a rear 2-bedroom residence, and an electrified detached workshop.
Property Size3,000 SF
Price / SF$283.33
Days on Market471
Property Features for 2109-11 Chartres St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
General Commercial
Zoning
HMC-1
Additional Details
Furnished
Yes
Multifamily Units
3
Amenities
3
HMC-1
No Parking.
Rectangular
40 x 127
Rectangular.
Building Details
Year Built
1900
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Josh Walther
(504) 717-5612
Source:
Xome
Added: May 20, 2025
Changed: Sep 1
Last Checked: Sep 1 at 2:39PM
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 Witry Collective, L.L.C.
Investment Insights
Based on property information with market context.
HMC-1 zoned hospitality and rental property featuring two updated 1-bedroom, 1-bath units and a spacious 2-bedroom, 1-bath owner’s residence at the rear. The home includes historic New Orleans architectural details such as fireplace mantels, hardwood floors, soaring ceilings with transoms, and original pocket doors. Recent updates to the foundation, electrical, and plumbing systems support modern functionality, and the property is offered fully furnished. An active B&B license is in place.
Located in the heart of the Marigny Triangle, the property is just steps from Frenchmen Street and minutes to the French Quarter.
Additional value comes from an undeveloped detached brick workshop of approximately 450 square feet with electricity, which may be used as extra workspace or storage. The configuration supports a range of hosting and occupancy needs for both larger and smaller guest parties, with flexibility for short-term or long-term use.
Located in the heart of the Marigny Triangle, the property is just steps from Frenchmen Street and minutes to the French Quarter.
Additional value comes from an undeveloped detached brick workshop of approximately 450 square feet with electricity, which may be used as extra workspace or storage. The configuration supports a range of hosting and occupancy needs for both larger and smaller guest parties, with flexibility for short-term or long-term use.
Key Highlights
- HMC‑1 zoned property with two updated 1‑bedroom/1‑bath units plus a rear 2‑bedroom/1‑bath residence
- Active B&B license; guest facilities noted as 3
- Historic New Orleans details including fireplace mantels, hardwood floors, soaring ceilings with transoms, and original pocket doors
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
$34,917
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
4.11%
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%
$698,340
$698.3K
Cap Rate 7%
$498,814
$498.8K
Cap Rate 9%
$387,967
$388.0K
Market Conditions
NOI Build-Up for 3,000 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
$69.8K $23.28/SF
− Vacancy
−$6.4K −$2.12/SF
EGI
$63.5K $21.16/SF
− OpEx
−$28.6K −$9.52/SF
NOI
$34.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$698,340
Cap Rate 7%
$498,814
Cap Rate 9%
$387,967
Alternative Uses
Best Use
Apartment 5plus
$498.8K
$436.5K – $582.0K
NOI $34,917 @ 7.0% cap · market cap 4.11%
Second Best
Hotel Hospitality
$161.2K
$141.1K – $188.1K
NOI $11,286 @ 7.0% cap · market cap 1.33%
Theoretical Best
Office A
$762.5K
$667.2K – $889.6K
NOI $53,375 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,452
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Bed & breakfast - HMC-1 zoned property with two updated 1-bedroom units, a rear 2-bedroom residence, and an electrified detached workshop.
Where is this bed & breakfast located?
The property is located at 2109-11 Chartres St New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: HMC‑1 zoned property with two updated 1‑bedroom/1‑bath units plus a rear 2‑bedroom/1‑bath residence; Active B&B license; guest facilities noted as 3; Historic New Orleans details including fireplace mantels, hardwood floors, soaring ceilings with transoms, and original pocket doors
