Carrollton Avenue Mixed-Use
1516 S CARROLLTON Avenue New Orleans, LA 70118
For Sale
$549,000
MULTI_FAMILY - New Orleans, LA
Property Size3,527 SF
Lot Size0.09 Acres
Price / SF$155.66
Days on Market308
Property Features for 1516 S CARROLLTON Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- 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
Utilities
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Joyce Delery · License #995682342
(504) 605-4400
Added: Sep 22, 2025
Changed: May 14
Last Checked: Jul 26 at 8:06PM
MLS# 2530227
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 property, located on Carrollton Avenue, offers a rare opportunity in a vibrant area. The property includes two addresses: 1516 S Carrollton Avenue, which has a commercial zoning variance, and 1518 S Carrollton Avenue, which is currently residential. The property, approximately 115 years old, spans 3,527 square feet on a lot of 0.0895 acres. The property is zoned for commercial and residential use, and prospective purchasers are advised to independently confirm zoning details and potential uses.
Key Highlights
- Commercial/residential zoned property in Carrollton Ave area
- Commercial zoning variance at 1516
- 115‑year‑old property
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
Apartment 5plus
$586.4K
$513.1K – $684.2K
NOI $41,050 @ 7.0% cap · market cap 7.48%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
EconoTax Inc
Accounting Firm
FAQs
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 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 zoned property in Carrollton Ave area; Commercial zoning variance at 1516; 115‑year‑old property
