Carrollton Avenue Mixed-Use
For Sale
$549,000
1516 - 18 S CARROLLTON Avenue, New Orleans, LA 70118
COMMERCIAL - New Orleans, LA
Property Size3,527 SF
Lot Size0.09 Acres
Price / SF$155.66
Days on Market312
Property Features for 1516 - 18 S CARROLLTON Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-RD2
Lot features
Regular
Standard status
Active
APN
716205203
Size
3,527 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 194 LOT 5 S CARROLLTON 30 X 130 1516-18 SO CARROLLTON
Legal Description
SQ 194 LOT 5 S CARROLLTON 30 X 130 1516-18 SO CARROLLTON
Utilities
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Joyce Delery · License #995682342
(504) 605-4400
Added: Sep 22, 2025
Changed: Apr 27
Last Checked: Jul 30 at 9:06PM
MLS# 2528486
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a commercial/residential zoned property in the vibrant Carrollton Ave area. The property, which is 115 years old, includes two addresses. The address at 1516 S Carrollton Avenue has a commercial zoning variance in place, while 1518 S Carrollton Avenue is currently residential. The property offers 3,527 square feet of space on a 0.0895-acre lot. The zoning is HU-RD2. Purchasers should confirm zoning and all possible uses.
Key Highlights
- Commercial/Residential Zoning Opportunity in Carrollton Ave Area
- Existing Commercial Zoning Variance at 1516
- 115‑Year‑Old Property with Potential
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.6k | $24.00 |
| − Vacancy | −$8.5k | −$2.40 |
| EGI | $76.2k | $21.60 |
| − OpEx | −$28.6k | −$8.10 |
| NOI | $47.6k | $13.50 |
3,527 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$680.2K
$595.2K – $793.6K
NOI $47,615 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$896.4K
$784.4K – $1.05M
NOI $62,751 @ 7.0% cap · market cap 11.43%
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
$451,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in New Orleans, LA
Properties on Market for Mixed-use properties in New Orleans
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial/residential property in vibrant Carrollton Ave area.
Where is this mixed-use property located?
The property is located at 1516 - 18 S CARROLLTON Avenue 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: Commercial/Residential Zoning Opportunity in Carrollton Ave Area; Existing Commercial Zoning Variance at 1516; 115‑Year‑Old Property with Potential
