Two-Story Mixed-Use
For Sale
$625,000
209 N Broad St, New Orleans, LA 70119
Two-story property with leased ground-floor space and an owner-occupied upper level.
Property Size4,160 SF
Price / SF$150.24
Days on Market132
Property Features for 209 N Broad St
General Information
Standard status
Active
Size
4,160 SF
Zoning
HU-MU
Building Details
Year Built
1980
Buildings
1
Stories
2
Listing Agency:
Southeast Commercial of MS, LLC
Listed By:
Matthew Eaton
Source:
Fiorellaavenue
Added: Apr 24
Changed: Aug 29
Last Checked: Sep 1 at 8:46PM
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 Southeast Commercial of MS, LLC
Investment Insights
Based on property information with market context.
This 4,160 SF mixed-use building was constructed in 1980 and arranged across two levels. The ground floor contains approximately 2,100 SF and is leased under a 3-year term, while the approximately 2,060 SF second floor is occupied by the owner. The property is zoned HU-MU and includes both on-street parking and dedicated off-street spaces at the rear.
The building is located at 209 N Broad Street in New Orleans, directly across from Whole Foods Market and one block from Canal Street. Its setting places the property near a mix of local and national businesses, with access from North Broad Street and nearby Canal Street.
The building is located at 209 N Broad Street in New Orleans, directly across from Whole Foods Market and one block from Canal Street. Its setting places the property near a mix of local and national businesses, with access from North Broad Street and nearby Canal Street.
Key Highlights
- 4,160 SF two‑story mixed‑use building constructed in 1980
- Approximately 2,100 SF ground floor leased under a 3‑year term
- Approximately 2,060 SF second floor is owner‑occupied
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
$54,912
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
8.79%
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%
$1,098,240
$1.1M
Cap Rate 7%
$784,457
$784.5K
Cap Rate 9%
$610,133
$610.1K
Market Conditions
NOI Build-Up for 4,160 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
$99.8K $24.00/SF
− Vacancy
−$12.0K −$2.88/SF
EGI
$87.9K $21.12/SF
− OpEx
−$32.9K −$7.92/SF
NOI
$54.9K $13.20/SF
Area
ZIP 70119
Vacancy
12.00%
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%
$1,098,240
Cap Rate 7%
$784,457
Cap Rate 9%
$610,133
Alternative Uses
Best Use
Mixed Use
$784.5K
$686.4K – $915.2K
NOI $54,912 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$952.5K – $1.27M
NOI $76,198 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,777
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story property with leased ground-floor space and an owner-occupied upper level.
Where is this mixed-use property located?
The property is located at 209 N Broad St New Orleans, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4,160 SF two‑story mixed‑use building constructed in 1980; Approximately 2,100 SF ground floor leased under a 3‑year term; Approximately 2,060 SF second floor is owner‑occupied
