Corner Lot Mixed-Use
For Sale
$295,000
1700 SHORT Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size1,636 SF
Lot Size0.07 Acres
Price / SF$180.32
Days on Market111
Property Features for 1700 SHORT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Fence
Fencing
Fenced
Lot features
Corner
Standard status
Active
APN
716207715
Size
1,636 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 224 FRONT LOT 10 GREEN AND SHORT 30 X 99 8003 GREEN-1700 SHORT
Legal Description
SQ 224 FRONT LOT 10 GREEN AND SHORT 30 X 99 8003 GREEN-1700 SHORT
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1923
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 J. Carter & Company · Century 21 Real Estate
(504) 810-2825
Listed By:
Alex DeRojas
(504) 875-8134
Added: May 18
Changed: Jun 9
Last Checked: Sep 5 at 5:06AM
MLS# 2558784
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.
Located on a prime corner lot, this mixed-use duplex at 1700 Short St and 8003 Green St offers an opportunity with two addresses on one site. The 1700 Short St unit includes a 2-bedroom, 1-bath layout with granite countertops, no carpet, and an in-unit washer and dryer, providing practical, tenant-friendly everyday functionality.
The property benefits from a strong nearby lifestyle and transportation draw, positioned just one block from the Carrollton streetcar line. It is also described as convenient to local restaurants, universities, and public transit, supporting tenant demand from households that value access to daily amenities and connections around the area.
From an investment perspective, this configuration is well suited for buyers seeking a rental property with in-unit laundry and durable finishes in a compact, manageable duplex format. The corner-lot positioning and proximity to transit can also support leasing interest, particularly for tenants who prefer walkable access to employment, schools, and neighborhood conveniences.
The property benefits from a strong nearby lifestyle and transportation draw, positioned just one block from the Carrollton streetcar line. It is also described as convenient to local restaurants, universities, and public transit, supporting tenant demand from households that value access to daily amenities and connections around the area.
From an investment perspective, this configuration is well suited for buyers seeking a rental property with in-unit laundry and durable finishes in a compact, manageable duplex format. The corner-lot positioning and proximity to transit can also support leasing interest, particularly for tenants who prefer walkable access to employment, schools, and neighborhood conveniences.
Key Highlights
- Mixed‑use property on a corner lot at 1700 Short St / 8003 Green St, one block from the Carrollton streetcar line
- Residential unit offers 2 bedrooms and 1 bathroom
- Kitchen features granite countertops, with no carpet in the unit
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
$19,041
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
6.45%
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%
$380,820
$380.8K
Cap Rate 7%
$272,014
$272.0K
Cap Rate 9%
$211,567
$211.6K
Market Conditions
NOI Build-Up for 1,636 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
$38.1K $23.28/SF
− Vacancy
−$3.5K −$2.12/SF
EGI
$34.6K $21.16/SF
− OpEx
−$15.6K −$9.52/SF
NOI
$19.0K $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 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%
$380,820
Cap Rate 7%
$272,014
Cap Rate 9%
$211,567
Alternative Uses
Best Use
Apartment 5plus
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.8K
$363.8K – $485.1K
NOI $29,107 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,262
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Well-positioned corner duplex with an updated 2-bedroom unit and in-unit laundry, ideal for rental-focused investors.
Where is this single family property located?
The property is located at 1700 SHORT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Mixed‑use property on a corner lot at 1700 Short St / 8003 Green St, one block from the Carrollton streetcar line; Residential unit offers 2 bedrooms and 1 bathroom; Kitchen features granite countertops, with no carpet in the unit
