Uptown Mixed-Use Investment
For Sale
Contact for pricing
1516 S Carrollton Ave, New Orleans, LA 70118
Historic mixed-use property in desirable Uptown New Orleans location.
Property Size3,713 SF
Lot Size0.09 Acres
Price / SF$147.86
Days on Market141
Property Features for 1516 S Carrollton Ave
General Information
Standard status
Active
Size
3,713 SF
Lot size
0.09 Acres
Property subtype
Mixed Use, Office, Retail
Zoning
HU-RD2
Building Details
Buildings
1
Units
2
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Parke McEnery · License #LA
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 11 at 6:31PM
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 The McEnery Company
Investment Insights
Based on property information with market context.
Located along South Carrollton Avenue in Uptown New Orleans, the property at 1516-1518 S Carrollton Avenue is a mixed-use investment opportunity. Constructed around 1910, this two-story double building totals approximately 3,713 square feet on a 30' x 130' lot. It includes two residential units, with a commercial zoning variance for unit 1516. This variance allows for potential office, retail, or live-work use while maintaining its underlying HU-RD2 Historic Urban Two-Family Residential zoning. The property is near Tulane and Loyola Universities, Audubon Park, and the South Carrollton commercial corridor. It benefits from residential and neighborhood business demand. The property features off-street driveway parking, balconies, and covered porches. It is suited for investors, owner-occupants, or small businesses seeking a presence in a prime Uptown location. Cosmetic updates may add value.
Key Highlights
- Prime Uptown New Orleans location on highly visible South Carrollton Avenue.
- Mixed‑use investment opportunity with commercial zoning variance for office, retail, or live‑work use.
- Historic two‑story double built circa 1910, totaling approximately 3,713 square feet.
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
$50,126
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
9.13%
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%
$1,002,520
$1.0M
Cap Rate 7%
$716,086
$716.1K
Cap Rate 9%
$556,956
$557.0K
Market Conditions
NOI Build-Up for 3,713 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
$89.1K $24.00/SF
− Vacancy
−$8.9K −$2.40/SF
EGI
$80.2K $21.60/SF
− OpEx
−$30.1K −$8.10/SF
NOI
$50.1K $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%
$1,002,520
Cap Rate 7%
$716,086
Cap Rate 9%
$556,956
Alternative Uses
Best Use
Office B
$781.9K
$684.1K – $912.2K
NOI $54,730 @ 7.0% cap · market cap 9.97%
Second Best
Mixed Use
$716.1K
$626.6K – $835.4K
NOI $50,126 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$943.7K
$825.8K – $1.10M
NOI $66,061 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,114
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 Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic mixed-use property in desirable Uptown New Orleans location.
Where is this mixed-use property located?
The property is located at 1516 S Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Prime Uptown New Orleans location on highly visible South Carrollton Avenue.; Mixed‑use investment opportunity with commercial zoning variance for office, retail, or live‑work use.; Historic two‑story double built circa 1910, totaling approximately 3,713 square feet.
