New Mixed-Use Live-Work
For Sale
$1,979,000
1825 Sophie Wright Pl, New Orleans, LA 70130
Three-level building pairs customizable commercial space with two private residential residences.
Property Size3,987 SF
Price / SF$496.36
Days on Market18
Property Features for 1825 Sophie Wright Pl
General Information
Standard status
Active
Size
3,987 SF
Total Parking Spaces
2
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Amenities
covered terraces
private inside unit laundry
Building Details
Year Built
2026
Buildings
1
Stories
3
Listing Agency:
Keller Williams Realty New Orleans
(504) 231-2004
Listed By:
Chris Smith · License #09641
Source:
Dominionplace
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 30 at 8:41PM
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
Built in 2026, this three-level mixed-use property combines approximately 1,205 square feet of first-floor white-box commercial space with two upper-level residential residences. The commercial area is delivered in a customizable condition, while each residence includes two separated bedroom suites, two full bathrooms, one half bath, in-unit laundry, covered terraces, and a dedicated covered garage parking space. Modern construction includes a fully sprinklered building, energy-conscious systems, and low-maintenance exterior materials.
The property is located at 1825 27 Sophie Wright Pl in New Orleans, Louisiana, approximately half a block from Magazine Street and along the Sophie Wright Place corridor leading to Coliseum Square Park. The Warehouse District, CBD, French Quarter, St. Charles Avenue Streetcar Line, restaurants, boutiques, galleries, and entertainment venues are identified as nearby context.
The property is located at 1825 27 Sophie Wright Pl in New Orleans, Louisiana, approximately half a block from Magazine Street and along the Sophie Wright Place corridor leading to Coliseum Square Park. The Warehouse District, CBD, French Quarter, St. Charles Avenue Streetcar Line, restaurants, boutiques, galleries, and entertainment venues are identified as nearby context.
Key Highlights
- New construction completed in 2026
- Approximately 1,205 square feet of first‑floor white‑box commercial space
- Two residential residences, each with 2 bedroom suites, 2 full baths, and 1 half bath
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
$58,769
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
2.97%
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%
$1,175,380
$1.2M
Cap Rate 7%
$839,557
$839.6K
Cap Rate 9%
$652,989
$653.0K
Market Conditions
NOI Build-Up for 3,987 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
$90.9K $22.80/SF
− Vacancy
−$12.5K −$3.15/SF
EGI
$78.4K $19.65/SF
− OpEx
−$19.6K −$4.91/SF
NOI
$58.8K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,175,380
Cap Rate 7%
$839,557
Cap Rate 9%
$652,989
Alternative Uses
Best Use
Office B
$839.6K
$734.6K – $979.5K
NOI $58,769 @ 7.0% cap · market cap 2.97%
Second Best
Mixed Use
$768.9K
$672.8K – $897.1K
NOI $53,825 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$1.01M
$886.7K – $1.18M
NOI $70,935 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level building pairs customizable commercial space with two private residential residences.
Where is this mixed-use property located?
The property is located at 1825 Sophie Wright Pl New Orleans, LA.
What is the asking price?
The asking price for this property is $1,979,000.
What are key features of this property?
This property features: New construction completed in 2026; Approximately 1,205 square feet of first‑floor white‑box commercial space; Two residential residences, each with 2 bedroom suites, 2 full baths, and 1 half bath
