Three-Story French Quarter Apartment
For Sale
Contact for pricing
Pending
401 Decatur St, New Orleans, LA 70130
Three-story building with ground-floor retail and apartment units plus a large attic space.
Property Size3,600 SF
Days on Market484
Property Features for 401 Decatur St
General Information
Standard status
Pending
Size
3,600 SF
Property subtype
MULTIFAMILY
Building Details
Buildings
1
Stories
3
Listing Agency:
Jon Huffman Real Estate
(504) 616-6516
Listed By:
Yosef Greenwald · License #995699035
(504) 405-8491
Source:
Moodyscre
Added: May 19, 2025
Changed: Sep 9
Last Checked: Sep 14 at 11:06AM
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 Jon Huffman Real Estate
Investment Insights
Based on property information with market context.
This three-story French Quarter building offers a mix of commercial and residential space, including a commercial retail space on the ground floor and attractive apartment space on the 2nd and 3rd floors. The property also includes a huge attic space that adds additional living area within the overall layout.
Located at 401 Decatur St in New Orleans, LA 70130, the building is in a visible French Quarter setting with a high tourist and local traffic count. That presence supports day-to-day activity for the street-level retail component while providing an in-demand backdrop for the apartment floors.
With approximately 3,600 SF of total property size, the building’s configuration is designed to combine retail frontage with multiple residential levels in one cohesive structure.
Located at 401 Decatur St in New Orleans, LA 70130, the building is in a visible French Quarter setting with a high tourist and local traffic count. That presence supports day-to-day activity for the street-level retail component while providing an in-demand backdrop for the apartment floors.
With approximately 3,600 SF of total property size, the building’s configuration is designed to combine retail frontage with multiple residential levels in one cohesive structure.
Key Highlights
- Three‑story French Quarter building with ground‑floor retail
- Ground floor features commercial retail space
- 2nd and 3rd floors designed as apartments
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
$44,453
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
4.94%
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%
$889,060
$889.1K
Cap Rate 7%
$635,043
$635.0K
Cap Rate 9%
$493,922
$493.9K
Market Conditions
NOI Build-Up for 3,600 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
$64.8K $18.00/SF
− Vacancy
−$1.3K −$0.36/SF
EGI
$63.5K $17.64/SF
− OpEx
−$19.1K −$5.29/SF
NOI
$44.5K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$889,060
Cap Rate 7%
$635,043
Cap Rate 9%
$493,922
Alternative Uses
Best Use
Retail
$635.0K
$555.7K – $740.9K
NOI $44,453 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$598.6K
$523.8K – $698.3K
NOI $41,900 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$915.0K
$800.6K – $1.07M
NOI $64,050 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,445
Businesses Nearby
309k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 63%
Dining 17%
Groceries 13%
Apparel 4%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.4 miles
Rouses Market
Groceries
35,073 visits/mo
0.3 miles
Hotel Fontenot
Hotels & Casinos
20,339 visits/mo
0.4 miles
DoubleTree by Hilton Hotel New Orleans
Hotels & Casinos
18,904 visits/mo
0.3 miles
Dick's Last Resort
Dining
16,371 visits/mo
0.1 miles
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Orleans, LA
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-story building with ground-floor retail and apartment units plus a large attic space.
Where is this residential income property located?
The property is located at 401 Decatur St New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑story French Quarter building with ground‑floor retail; Ground floor features commercial retail space; 2nd and 3rd floors designed as apartments
