Three-Story Mixed-Use
For Sale
$1,800,000
1825 SOPHIE WRIGHT Place, New Orleans, LA 70130
Commercial Sale, New Orleans, LA
Property Size3,987 SF
Price / SF$451.47
Days on Market139
Property Features for 1825 SOPHIE WRIGHT Place
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
HU-B1
Parking
2
Directions
1 block lakeside of Magazine St, 3 blocks downtown side of Jackson Ave
Standard status
Active
APN
1825-SOPHIEWRIGHTPLC
Size
3,987 SF
Additional Details
Mixed-Use Components
retail, residential
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2026
Floors in Building
3
Building materials
Block, Brick, HardiPlank Type
Buildings
1
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Chris M Smith · License #000009641
(504) 231-2004
Added: Jun 10
Changed: Oct 23
Last Checked: Oct 26 at 12:06AM
MLS# 2562301
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-story mixed-use property is under construction and contains 3,987 square feet. The ground floor offers approximately 1,205 square feet of unfinished commercial area. Two separate residences occupy the upper floors, one per level; each has two bedroom suites, two full bathrooms, one half bath, in-unit laundry, and a covered terrace. A covered garage parking space is included with each residence. The building is sprinklered and has block, brick, and HardiPlank Type construction. Zoning is HU-B1.
The property is on Sophie Wright Place, half a block from Magazine Street and along a corridor leading to Coliseum Square Park. Public water and sewer serve the property, and natural gas is available.
The property is on Sophie Wright Place, half a block from Magazine Street and along a corridor leading to Coliseum Square Park. Public water and sewer serve the property, and natural gas is available.
Key Highlights
- 3,987 square feet across three stories
- Approximately 1,205 square feet of ground‑floor commercial space
- Two upper‑floor residences, each with two bedroom suites, 2 full baths, and 1 half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,769
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
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
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 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 3.26%
Second Best
Mixed Use
$768.9K
$672.8K – $897.1K
NOI $53,825 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$1.01M
$886.7K – $1.18M
NOI $70,935 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,342
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-level commercial space sits below two residences, each with its own covered garage parking space.
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 $1,800,000.
What are key features of this property?
This property features: 3,987 square feet across three stories; Approximately 1,205 square feet of ground‑floor commercial space; Two upper‑floor residences, each with two bedroom suites, 2 full baths, and 1 half bath
