Mixed-Use Property with Residential
For Sale
$295,000
1700 Short St, New Orleans, LA 70118
Includes a two-bedroom, one-bath residence with granite countertops and in-unit laundry.
Property Size1,636 SF
Price / SF$180.32
Days on Market9
Property Features for 1700 Short St
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
granite countertops
in-unit washer and dryer
Building Details
Year Built
1923
Listing Agency:
Century 21 J. Carter & Company
Listed By:
Alex DeRojas
Source:
Dominionplace
Added: Aug 26
Changed: Aug 29
Last Checked: Sep 1 at 9:10PM
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 Century 21 J. Carter & Company
Investment Insights
Based on property information with market context.
The property at 1700 Short St / 8003 Green St is a mixed-use asset on a corner lot with a two-bedroom, one-bath residential unit. Interior features include granite countertops, hard-surface flooring throughout, and a washer and dryer located within the unit. Constructed in 1923, the property combines a residential component with a mixed-use classification.
The site is positioned one block from the Carrollton streetcar line and near restaurants, universities, and public transit. Its New Orleans location and corner placement provide clear access to the surrounding neighborhood amenities and transportation network.
The site is positioned one block from the Carrollton streetcar line and near restaurants, universities, and public transit. Its New Orleans location and corner placement provide clear access to the surrounding neighborhood amenities and transportation network.
Key Highlights
- Two‑bedroom, one‑bath residential unit
- Granite countertops and no carpet
- In‑unit washer and dryer
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
$22,086
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
7.49%
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%
$441,720
$441.7K
Cap Rate 7%
$315,514
$315.5K
Cap Rate 9%
$245,400
$245.4K
Market Conditions
NOI Build-Up for 1,636 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
$39.3K $24.00/SF
− Vacancy
−$3.9K −$2.40/SF
EGI
$35.3K $21.60/SF
− OpEx
−$13.3K −$8.10/SF
NOI
$22.1K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$441,720
Cap Rate 7%
$315,514
Cap Rate 9%
$245,400
Alternative Uses
Best Use
Mixed Use
$315.5K
$276.1K – $368.1K
NOI $22,086 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$415.8K
$363.8K – $485.1K
NOI $29,107 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a two-bedroom, one-bath residence with granite countertops and in-unit laundry.
Where is this mixed-use property located?
The property is located at 1700 Short St New Orleans, LA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residential unit; Granite countertops and no carpet; In‑unit washer and dryer
