Mixed-Use Property with Attached
For Sale
$340,000
1826 Franklin Avenue, New Orleans, LA 70117
Front workspace paired with a rear living area creates a combined commercial and residential layout.
Property Size1,527 SF
Days on Market45
Property Features for 1826 Franklin Avenue
General Information
Standard status
Active
Size
1,527 SF
Property subtype
Commercial
Zoning
mixed
Building Details
Building Size
1,527 SF
Year Built
1950
Stories
1
Listing Agency:
Paidyn Realty
(504) 710-9689
Listed By:
Patrice Poree · License #995699901
(504) 710-9689
Source:
Nolalivingrealty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 Paidyn Realty
Investment Insights
Based on property information with market context.
Built in 1950, this mixed-use property combines a front work area with an attached rear residence. The residential portion includes 3 bedrooms and 2 bathrooms, creating a single property with distinct work and living areas.
The property is located at 1826 Franklin Avenue in New Orleans, Louisiana 70117. Mixed zoning supports the property's combined commercial and residential configuration.
The property is located at 1826 Franklin Avenue in New Orleans, Louisiana 70117. Mixed zoning supports the property's combined commercial and residential configuration.
Key Highlights
- Front work area with attached rear residence
- 3 bedrooms and 2 bathrooms
- Mixed zoning
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
$22,508
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
6.62%
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%
$450,160
$450.2K
Cap Rate 7%
$321,543
$321.5K
Cap Rate 9%
$250,089
$250.1K
Market Conditions
NOI Build-Up for 1,527 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
$34.8K $22.80/SF
− Vacancy
−$4.8K −$3.15/SF
EGI
$30.0K $19.65/SF
− OpEx
−$7.5K −$4.91/SF
NOI
$22.5K $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%
$450,160
Cap Rate 7%
$321,543
Cap Rate 9%
$250,089
Alternative Uses
Best Use
Office B
$321.5K
$281.4K – $375.1K
NOI $22,508 @ 7.0% cap · market cap 6.62%
Second Best
Mixed Use
$294.5K
$257.7K – $343.6K
NOI $20,615 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$388.1K
$339.6K – $452.8K
NOI $27,168 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Front workspace paired with a rear living area creates a combined commercial and residential layout.
Where is this mixed-use property located?
The property is located at 1826 Franklin Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Front work area with attached rear residence; 3 bedrooms and 2 bathrooms; Mixed zoning
