Mixed-Use Property with White-Box
For Sale
$1,979,000
1825 SOPHIE WRIGHT Place, New Orleans, LA 70130
Commercial, New Orleans, LA
Property Size3,987 SF
Price / SF$496.36
Days on Market92
Property Features for 1825 SOPHIE WRIGHT Place
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
HU-B1
Parking features
Garage
Lot features
Oversized
Subdivision
Lower Gardn District
Standard status
Active
APN
1825-SOPHIEWRIGHTPLC
Size
3,987 SF
Taxes and HOA fees
Tax Description
SQ 141 LOT 8 SOPHIE WRIGHT 30/24X91/105 1825-27 SOPHIE
Legal Description
SQ 141 LOT 8 SOPHIE WRIGHT 30/24X91/105 1825-27 SOPHIE
Utilities
Water source
Public
Building Details
Year built
2026
Floors in Building
3
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Chris Smith · License #09641
(504) 231-2004
Added: Jun 10
Changed: Sep 4
Last Checked: Sep 9 at 2:06PM
MLS# 2562301
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 3987-square-foot mixed-use property is under construction with an anticipated 2026 completion. The first floor provides approximately 1,205 square feet of white-box commercial space, allowing the interior layout and service locations to be customized. Separate residences occupy the second and third floors, with each offering approximately two bedroom suites, two full baths, one half bath, covered outdoor space, private laundry, and a covered garage parking space.
The property is located at 1825 Sophie Wright Place in New Orleans, half a block from Magazine Street and along the corridor leading to Coliseum Square Park. The building has HU-B1 zoning, public water, modern construction, low-maintenance exterior materials, and a fire sprinkler system.
The property is located at 1825 Sophie Wright Place in New Orleans, half a block from Magazine Street and along the corridor leading to Coliseum Square Park. The building has HU-B1 zoning, public water, modern construction, low-maintenance exterior materials, and a fire sprinkler system.
Key Highlights
- 3987‑square‑foot mixed‑use property under construction with 2026 year built
- Approximately 1,205 square feet of first‑floor white‑box commercial space
- Two upper‑level residences, each with approximately 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
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Open Analytics
Current Use
Lease Details
1
Office 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Under-construction property combines customizable commercial space with two residential residences.
Where is this mixed-use property located?
The property is located at 1825 SOPHIE WRIGHT Place 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: 3987‑square‑foot mixed‑use property under construction with 2026 year built; Approximately 1,205 square feet of first‑floor white‑box commercial space; Two upper‑level residences, each with approximately 2 bedroom suites, 2 full baths, and 1 half bath
