Storefront Property with Rear
New
For Sale
$550,000
2003 ST CLAUDE Avenue, New Orleans, LA 70116
Commercial, New Orleans, LA
Property Size2,892 SF
Lot Size0.04 Acres
Price / SF$190.18
Days on Market2
Property Features for 2003 ST CLAUDE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Lot features
Corner
Subdivision
Marigny
Standard status
Active
APN
37W103701
Size
2,892 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
SQ 388 LOT B PT 1 ST CLAUDE AND TOURO 31 X 62 OVER 55 C/BACK DBLE SIDING 5/RMS EACH S/R
Legal Description
SQ 388 LOT B PT 1 ST CLAUDE AND TOURO 31 X 62 OVER 55 C/BACK DBLE SIDING 5/RMS EACH S/R
Utilities
Water source
Public
Building Details
Year built
1830
Floors in Building
2
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Added: Sep 2
Last Checked: Sep 3 at 12:06PM
MLS# 2575399
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 2,892-square-foot commercial property includes three units: a 628-square-foot storefront at 2001, a 688-square-foot unit at 2003, and a 1,226-square-foot upstairs unit. The building dates to 1830 and has three electrical meters, one water meter, and no gas meter. Public water serves the property, which is located in Flood Zone X. The 2001 storefront has been leased to Dynamo for more than a decade. The 2003 unit is owner occupied and will be vacated at closing.
The corner property sits on St. Claude Avenue along the streetcar line and includes the separate tax parcel at 1113 Touro, measuring 36 x 31 feet. The building parcel measures 31 x 62 feet. Both parcels carry HMC-2 zoning within the Historic Marigny/Treme/Bywater Commercial District. Permitted uses listed for the property include retail, restaurant, catering kitchen, childcare, educational and cultural facilities, art gallery, recording studio, hospitality center, social club or lodge, and place of worship.
The corner property sits on St. Claude Avenue along the streetcar line and includes the separate tax parcel at 1113 Touro, measuring 36 x 31 feet. The building parcel measures 31 x 62 feet. Both parcels carry HMC-2 zoning within the Historic Marigny/Treme/Bywater Commercial District. Permitted uses listed for the property include retail, restaurant, catering kitchen, childcare, educational and cultural facilities, art gallery, recording studio, hospitality center, social club or lodge, and place of worship.
Key Highlights
- 2,892 SF building with three units: 628 SF, 688 SF, and 1,226 SF
- Separate 1113 Touro tax parcel included; parcel measures 36 x 31 feet
- Both parcels zoned HMC‑2 in the Historic Marigny/Treme/Bywater Commercial District
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
$35,710
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
6.49%
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%
$714,200
$714.2K
Cap Rate 7%
$510,143
$510.1K
Cap Rate 9%
$396,778
$396.8K
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
$52.1K $18.00/SF
− Vacancy
−$1.0K −$0.36/SF
EGI
$51.0K $17.64/SF
− OpEx
−$15.3K −$5.29/SF
NOI
$35.7K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$714,200
Cap Rate 7%
$510,143
Cap Rate 9%
$396,778
Alternative Uses
Best Use
Retail
$510.1K
$446.4K – $595.2K
NOI $35,710 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
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
2,140
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 40%
Hotels & Casinos 18%
Starbucks
Dining
12,255 visits/mo
0.5 miles
Family Dollar
Shops & Services
11,454 visits/mo
0.5 miles
Best Western Plus French Quarter Courtyard Hotel
Hotels & Casinos
5,217 visits/mo
0.4 miles
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 Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-unit commercial property with HMC-2 zoning, public water, and an additional tax parcel included in the sale.
Where is this storefront property located?
The property is located at 2003 ST CLAUDE Avenue 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 SF building with three units: 628 SF, 688 SF, and 1,226 SF; Separate 1113 Touro tax parcel included; parcel measures 36 x 31 feet; Both parcels zoned HMC‑2 in the Historic Marigny/Treme/Bywater Commercial District
