Hotel with Courtyard and
For Sale
$4,750,000
124 S LOPEZ Street, New Orleans, LA 70119
The licensed lodging property includes a food and beverage license and multiple buildings arranged around an outdoor courtyard.
Property Size29,238 SF
Price / SF$162.46
Days on Market632
Property Features for 124 S LOPEZ Street
General Information
Standard status
Active
Size
29,238 SF
Property subtype
COMMERCIAL
Site & Location
Neighborhood
Mid-City
Additional Details
Business Included
Yes
Currently Operating
Yes
Amenities
large courtyard
above ground pool
music stage
parking
Building Details
Building Size
29,238 SF
Year Built
1920
Buildings
8
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Source:
Wurthluxury
Added: Feb 10, 2025
Changed: Nov 1
Last Checked: Nov 3 at 8:58AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This hotel property comprises six buildings at the front and two at the rear, with a courtyard, above-ground pool, music stage, and parking. The operation holds hotel and food and beverage licenses. The source also describes private rooms and dormitory accommodations, but gives conflicting room figures.
The property is located half a block from the Canal Street streetcar line in New Orleans. Its zoning is described as supporting residential or hotel use, as well as retail and restaurant possibilities.
The property is located half a block from the Canal Street streetcar line in New Orleans. Its zoning is described as supporting residential or hotel use, as well as retail and restaurant possibilities.
Key Highlights
- Hotel and food and beverage licenses
- Six front buildings and two rear buildings
- Courtyard with an above‑ground pool and music stage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,490
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,249,800
$3.2M
Cap Rate 7%
$2,321,286
$2.3M
Cap Rate 9%
$1,805,444
$1.8M
Market Conditions
NOI Build-Up for 29,238 SF
Gross rent
$526.3K $18.00/SF
− Vacancy
−$184.2K −$6.30/SF
EGI
$342.1K $11.70/SF
− OpEx
−$179.6K −$6.14/SF
NOI
$162.5K $5.56/SF
Area
ZIP 70119
Vacancy
35.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,249,800
Cap Rate 7%
$2,321,286
Cap Rate 9%
$1,805,444
Alternative Uses
Best Use
Hotel Hospitality
$2.32M
$2.03M – $2.71M
NOI $162,490 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.65M
$6.69M – $8.93M
NOI $535,547 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,447
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - The licensed lodging property includes a food and beverage license and multiple buildings arranged around an outdoor courtyard.
Where is this hotel located?
The property is located at 124 S LOPEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Hotel and food and beverage licenses; Six front buildings and two rear buildings; Courtyard with an above‑ground pool and music stage
