Bar with Event
For Sale
$800,000
1500 Elysian Fields Ave, New Orleans, LA 70117
Neighborhood venue with live music, licensed beverage service, and indoor-outdoor event functionality.
Property Size4,465 SF
Price / SF$179.17
Days on Market472
Property Features for 1500 Elysian Fields Ave
General Information
Standard status
Active
Size
4,465 SF
Property subtype
Hospitality
Zoning
HMC-2
Amenities
Water
Sewer
Building Details
Year Built
1885
Listing Agency:
Lauricella Land Co
Listed By:
Louis Lauricella
(504) 733-1212
Source:
Lacdb.resimplifi
Added: Jul 1, 2025
Changed: Oct 1
Last Checked: Oct 14 at 7:42PM
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 Lauricella Land Co
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Madame Vic’s is a neighborhood bar and live music venue configured for events and weddings. The property includes 4,465 square feet, front and back bars, and a spacious patio. Built in 1885, the venue has an occupancy capacity of up to 299 people.
The property is located at 1500 Elysian Fields Ave in New Orleans’ New Marigny area and carries HMC-2 zoning. Existing licensing includes a Liquor License, THC Beverage License, Mayoralty License for Live Music, and a Video Poker License for 3 Machines. The combination of bar infrastructure, entertainment use, and event-oriented space supports continued operation as a neighborhood venue with multiple components already in place.
The property is located at 1500 Elysian Fields Ave in New Orleans’ New Marigny area and carries HMC-2 zoning. Existing licensing includes a Liquor License, THC Beverage License, Mayoralty License for Live Music, and a Video Poker License for 3 Machines. The combination of bar infrastructure, entertainment use, and event-oriented space supports continued operation as a neighborhood venue with multiple components already in place.
Key Highlights
- 4,465‑square‑foot venue built in 1885
- Occupancy capacity of up to 299 people
- Liquor License and THC Beverage License in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,010
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,200
$1.3M
Cap Rate 7%
$900,143
$900.1K
Cap Rate 9%
$700,111
$700.1K
Market Conditions
NOI Build-Up for 4,465 SF
Gross rent
$85.7K $19.20/SF
− Vacancy
−$1.7K −$0.38/SF
EGI
$84.0K $18.82/SF
− OpEx
−$21.0K −$4.70/SF
NOI
$63.0K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,260,200
Cap Rate 7%
$900,143
Cap Rate 9%
$700,111
Alternative Uses
Best Use
Specialty Retail
$900.1K
$787.6K – $1.05M
NOI $63,010 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$993.0K – $1.32M
NOI $79,440 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,600
Businesses Nearby
68k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Shell
Shops & Services
14,799 visits/mo
0.1 miles
Starbucks
Dining
12,255 visits/mo
0.4 miles
Family Dollar
Shops & Services
11,454 visits/mo
0.0 miles
Shell
Shops & Services
8,100 visits/mo
0.5 miles
Smoothie King
Dining
5,265 visits/mo
0.1 miles
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Similar Off Market Nearby
- Vieu Carre — 1539 Orleans Ave, New Orleans, LA 70116
- Fritai — 1535 Basin St, New Orleans, LA 70116
- Bijou Restaurant & Bar — 1014 N Rampart St, New Orleans, LA 70116
- Cosimo's Bar — 1201 Burgundy St, New Orleans, LA 70116
- Effervescence — 1036 N Rampart St, New Orleans, LA 70116
Frequently Asked Questions
What type of property is this?
Bar & Pub - Neighborhood venue with live music, licensed beverage service, and indoor-outdoor event functionality.
Where is this bar & pub located?
The property is located at 1500 Elysian Fields Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 4,465‑square‑foot venue built in 1885; Occupancy capacity of up to 299 people; Liquor License and THC Beverage License in place
