Historic Mixed-Use Corner
New
For Sale
$550,000
2001 03 Saint Claude Ave, New Orleans, LA 70116
Income-producing corner property with three occupied units, a rear parcel, and HMC-2 commercial zoning in the Marigny.
Property Size2,892 SF
Lot Size0.07 Acres
Price / SF$190.18
Days on Market3
Property Features for 2001 03 Saint Claude Ave
General Information
Standard status
Active
Size
2,892 SF
Lot size
0.07 Acres
Property subtype
Multi-Family
Zoning
HMC-2
Occupancy
100%
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Building Details
Year Built
1830
Buildings
1
Tenancy
Multi
Listing Agency:
Witry Collective, L.L.C.
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Source:
Dominionplace
Added: Sep 6
Last Checked: Sep 7 at 11:14AM
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 Witry Collective, L.L.C.
Investment Insights
Based on property information with market context.
This mixed-use property combines a corner building with a separate rear parcel and three existing units. The building contains a 628-square-foot storefront at 2001, a 688-square-foot unit at 2003, and a 1,226-square-foot upstairs unit, totaling 2,892 square feet. The property was built in 1830 and includes three electrical meters, one water meter, and no gas meter. The 2003 unit is owner occupied and is expected to be vacated at closing.
Located on St. Claude Avenue in New Orleans’ Faubourg Marigny Historic District, the property sits on the streetcar line and within the St. Claude Corridor Cultural Products District. Both parcels are zoned Historic Marigny/Tremé/Bywater Commercial District (HMC-2). The property includes the building parcel at 31 x 62 and the separate 1113 Touro tax parcel, measuring 36 x 31. It is in Flood Zone X, with a Walk Score of 96 and a Transit Score of 59.
Located on St. Claude Avenue in New Orleans’ Faubourg Marigny Historic District, the property sits on the streetcar line and within the St. Claude Corridor Cultural Products District. Both parcels are zoned Historic Marigny/Tremé/Bywater Commercial District (HMC-2). The property includes the building parcel at 31 x 62 and the separate 1113 Touro tax parcel, measuring 36 x 31. It is in Flood Zone X, with a Walk Score of 96 and a Transit Score of 59.
Key Highlights
- 2,892‑square‑foot mixed‑use building with three units
- 2001 storefront measures 628 sq. ft.; 2003 unit measures 688 sq. ft.
- Upstairs Unit A provides 1,226 sq. ft.
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
$39,042
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
7.10%
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%
$780,840
$780.8K
Cap Rate 7%
$557,743
$557.7K
Cap Rate 9%
$433,800
$433.8K
Market Conditions
NOI Build-Up for 2,892 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
$69.4K $24.00/SF
− Vacancy
−$6.9K −$2.40/SF
EGI
$62.5K $21.60/SF
− OpEx
−$23.4K −$8.10/SF
NOI
$39.0K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$780,840
Cap Rate 7%
$557,743
Cap Rate 9%
$433,800
Alternative Uses
Best Use
Mixed Use
$557.7K
$488.0K – $650.7K
NOI $39,042 @ 7.0% cap · market cap 7.10%
Second Best
Multifamily LT 5
$523.1K
$457.8K – $610.3K
NOI $36,620 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$735.1K
$643.2K – $857.6K
NOI $51,454 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing corner property with three occupied units, a rear parcel, and HMC-2 commercial zoning in the Marigny.
Where is this mixed-use property located?
The property is located at 2001 03 Saint Claude Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,892‑square‑foot mixed‑use building with three units; 2001 storefront measures 628 sq. ft.; 2003 unit measures 688 sq. ft.; Upstairs Unit A provides 1,226 sq. ft.
