Duplex with Commercial
For Sale
$499,000
1516-18 South Carrollton Avenue, New Orleans, LA 70118
Two-address property combining a commercial zoning variance at one unit with residential use at the other.
Property Size3,527 SF
Price / SF$141.48
Days on Market376
Property Features for 1516-18 South Carrollton Avenue
General Information
Standard status
Active
Size
3,527 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Window Unit(s)
Other Heat
1
2
6
4
Asphalt
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1910
Listing Agency:
McEnery Residential, LLC
Listed By:
Joyce Delery · License #995682342
(504) 400-5516
Source:
Compass
Added: Aug 24, 2025
Changed: Sep 2
Last Checked: Sep 1 at 11:12PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
This duplex property contains 3,527 square feet across 1516-18 South Carrollton Avenue. The two-address configuration includes a commercial zoning variance at 1516, while 1518 is currently residential. The building dates to 1910 and features wood siding with a pillar/post/pier foundation and an asphalt exterior surface.
The property is located in New Orleans, Louisiana, within the Carrollton Ave area. Existing zoning and permitted uses should be independently confirmed for both addresses before pursuing a specific residential or commercial plan.
The property is located in New Orleans, Louisiana, within the Carrollton Ave area. Existing zoning and permitted uses should be independently confirmed for both addresses before pursuing a specific residential or commercial plan.
Key Highlights
- 3,527‑square‑foot duplex at 1516‑18 South Carrollton Avenue
- 1516 has a commercial zoning variance
- 1518 is currently used residentially
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
$44,661
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
8.95%
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%
$893,220
$893.2K
Cap Rate 7%
$638,014
$638.0K
Cap Rate 9%
$496,233
$496.2K
Market Conditions
NOI Build-Up for 3,527 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
$69.8K $19.80/SF
− Vacancy
−$6.0K −$1.71/SF
EGI
$63.8K $18.09/SF
− OpEx
−$19.1K −$5.43/SF
NOI
$44.7K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$893,220
Cap Rate 7%
$638,014
Cap Rate 9%
$496,233
Alternative Uses
Best Use
Multifamily LT 5
$638.0K
$558.3K – $744.4K
NOI $44,661 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$586.4K
$513.1K – $684.2K
NOI $41,050 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$896.4K
$784.4K – $1.05M
NOI $62,751 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,515
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-address property combining a commercial zoning variance at one unit with residential use at the other.
Where is this duplex located?
The property is located at 1516-18 South Carrollton Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,527‑square‑foot duplex at 1516‑18 South Carrollton Avenue; 1516 has a commercial zoning variance; 1518 is currently used residentially
