10-Unit Apartment
For Sale
$5,200,000
1609 1613 BARONNE Street, New Orleans, LA 70113
The 2021 property combines short-term stays with residential rentals.
Property Size20,000 SF
Days on Market9
Property Features for 1609 1613 BARONNE Street
General Information
Standard status
Active
Size
20,000 SF
Property subtype
COMMERCIAL
Building Details
Building Size
20,000 SF
Year Built
2021
Listing Agency:
Anthony Posey Properties, Inc
Listed By:
Anthony Posey · License #000075384
(504) 382-4425
Source:
Burkbrokerage
Added: Sep 29
Changed: Oct 6
Last Checked: Oct 5 at 4:54PM
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 Anthony Posey Properties, Inc
Investment Insights
Based on property information with market context.
Built in 2021, this New Orleans apartment property contains 10 units. Its existing rental mix includes short-term accommodations and residential rentals, offering two forms of use across the building.
The property is at 1609–1613 Baronne Street, steps from St. Charles Avenue and the Lower Garden District. Restaurants, entertainment, cultural destinations, and transportation are described as part of the surrounding area. Buyers should independently verify income, expenses, occupancy, rental details, measurements, zoning, permitted uses, and licensing information.
The property is at 1609–1613 Baronne Street, steps from St. Charles Avenue and the Lower Garden District. Restaurants, entertainment, cultural destinations, and transportation are described as part of the surrounding area. Buyers should independently verify income, expenses, occupancy, rental details, measurements, zoning, permitted uses, and licensing information.
Key Highlights
- 10‑unit apartment property
- Built in 2021
- Baronne Street address, steps from St. Charles Avenue and the Lower Garden District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$232,777
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,655,540
$4.7M
Cap Rate 7%
$3,325,386
$3.3M
Cap Rate 9%
$2,586,411
$2.6M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$465.6K $23.28/SF
− Vacancy
−$42.4K −$2.12/SF
EGI
$423.2K $21.16/SF
− OpEx
−$190.5K −$9.52/SF
NOI
$232.8K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,655,540
Cap Rate 7%
$3,325,386
Cap Rate 9%
$2,586,411
Alternative Uses
Best Use
Apartment 5plus
$3.33M
$2.91M – $3.88M
NOI $232,777 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.08M
$4.45M – $5.93M
NOI $355,834 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,244
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - The 2021 property combines short-term stays with residential rentals.
Where is this apartment building located?
The property is located at 1609 1613 BARONNE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 10‑unit apartment property; Built in 2021; Baronne Street address, steps from St. Charles Avenue and the Lower Garden District
