Building Details

Year Built 1980

Buildings 1

Stories 2

Listing Agency: Southeast Commercial of MS, LLC

Listed By: Matthew Eaton · License #000072493 Show Phone

Source: Fiorellaavenue

Added: Apr 24 Changed: Oct 12 Last Checked: Oct 7 at 2:06PM

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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.

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 / Yr

$54,912

Cap Rate

8.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,098,240 $1.1M

Cap Rate 7%

$784,457 $784.5K

Cap Rate 9%

$610,133 $610.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,160 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $76,198 @ 7.0% cap · market cap 12.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Empowerment Behavioral Services Foster Care Service The General Insurance Agency Crescent School Gaming ... Vocational School HireQuest Direct of New ... Employment Agency A Priority One Rent-A-Car Car Rental Facility

Suggested Use

Top Pick Dental Office Home Appliance Store (Bike/Boat/Book/etc) Store Electrical Service Furniture & Home Goods Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

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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