Bar with Event
For Sale
$850,000
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$190.37
Days on Market427
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
(504) 733-1212
Listed By:
Louis Lauricella
(504) 733-1212
Source:
Lacdb.resimplifi
Added: Jul 1, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:48PM
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
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 = 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
$63,010
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
7.41%
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%
$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
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
$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 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%
$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 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$993.0K – $1.32M
NOI $79,440 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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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 $850,000.
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
