Building Details

Year built 1970

Floors in Building 2

Building materials Block

Listing Agency: Homesmart Realty South - Metairie · HomeSmart International v***@hsrealtysouth.com Show Phone

Listed By: Beverly B Rambo · License #000015702 Show Phone

Added: Jan 29 Changed: Oct 23 Last Checked: Oct 24 at 2:06AM

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MLS# 2533625

Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This two-story retail property contains six bays, divided evenly between its first and second floors. The building has block construction and was completed in 1970. Its exterior has been maintained, and the property is zoned HMC-2.

The property is located at 1418 N Claiborne Avenue in New Orleans. Public water and sewer serve the site, and off-street parking is listed among its features.

Key Highlights

• Six retail bays: three on each of the building’s two floors
• HMC‑2 zoning
• Block construction; built in 1970

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,888

Cap Rate

7.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,197,760 $1.2M

Cap Rate 7%

$855,543 $855.5K

Cap Rate 9%

$665,422 $665.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,850 SF

Gross rent

$87.3K $18.00/SF

− Vacancy

−$1.7K −$0.36/SF

EGI

$85.6K $17.64/SF

− OpEx

−$25.7K −$5.29/SF

NOI

$59.9K $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 Rate 5%

$1,197,760

Cap Rate 7%

$855,543

Cap Rate 9%

$665,422

Alternative Uses

Best Use

Retail

$855.5K

$748.6K – $998.1K (±1% cap)

NOI $59,888 @ 7.0% cap · market cap 7.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,290 @ 7.0% cap · market cap 10.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Peoples Assembly Office Association Or Organization Mr. Vatos Smoke ... (Bike/Boat/Book/etc) Store New Orleans Mobile Mobile Phone Store Afritude Hair Braiding Hair Salon Master Touch Barber Shop

Suggested Use

Top Pick Dental Office Pet Grooming Service Locksmith Furniture & Home Goods (Bike/Boat/Book/etc) Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,717

Businesses Nearby

13k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 76% Electronics 24%

Dollar General Market Groceries

10,065 visits/mo 0.5 miles

Metro by T-Mobile Electronics

1,684 visits/mo 0.4 miles

Boost Mobile Electronics

1,413 visits/mo 0.5 miles

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 Retail in New Orleans, LA

5.5% 2019

7.2% 2020

5.7% 2021

4.3% 2022

3.6% 2023

3.9% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - Six leasable spaces are arranged across two levels, with retail bays on each floor.

Where is this strip mall located?

The property is located at 1418 N CLAIBORNE Avenue New Orleans, LA.

What is the asking price?

The asking price for this property is $828,000.

What are key features of this property?

This property features: Six retail bays: three on each of the building’s two floors; HMC‑2 zoning; Block construction; built in 1970