Short-Term Rental Property with
For Sale
$850,000
2109-11 CHARTRES Street, New Orleans, LA 70116
Commercial Sale, New Orleans, LA
Property Size3,000 SF
Price / SF$283.33
Days on Market417
Property Features for 2109-11 CHARTRES Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-1
Directions
From Frenchman, turn on Chartres toward Elysian Fields. Property on the left.
Standard status
Active
APN
2111 CHARTRES
Size
3,000 SF
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Description
SQ 153 LOT F 20 CHARTRES
Legal Description
SQ 153 LOT F 20 CHARTRES
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Building materials
HardiPlank Type, Wood Siding
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Joshua K Walther · License #000076446
(504) 717-5612
Added: Sep 2, 2025
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2519637
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 3,000-square-foot property comprises two updated one-bedroom, one-bath units and a rear two-bedroom, one-bath residence. Historic details include fireplace mantels, hardwood floors, high ceilings with transoms, and pocket doors. Foundation, electrical, and plumbing updates are also noted. The property is furnished and currently operates as a short-term rental, with an active B&B license and HMC-1 zoning.
A detached brick workshop provides 450 square feet and has electrical service; it is undeveloped. Natural gas is available, and the property has public water and sewer.
A detached brick workshop provides 450 square feet and has electrical service; it is undeveloped. Natural gas is available, and the property has public water and sewer.
Key Highlights
- Two updated 1‑bedroom/1‑bath units plus a rear 2‑bedroom/1‑bath residence
- 3,000 square feet; currently used as a short‑term rental
- Active B&B license and HMC‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,987
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,740
$759.7K
Cap Rate 7%
$542,671
$542.7K
Cap Rate 9%
$422,078
$422.1K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$59.4K $19.80/SF
− Vacancy
−$5.1K −$1.71/SF
EGI
$54.3K $18.09/SF
− OpEx
−$16.3K −$5.43/SF
NOI
$38.0K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$759,740
Cap Rate 7%
$542,671
Cap Rate 9%
$422,078
Alternative Uses
Best Use
Multifamily LT 5
$542.7K
$474.8K – $633.1K
NOI $37,987 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$498.8K
$436.5K – $582.0K
NOI $34,917 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$762.5K
$667.2K – $889.6K
NOI $53,375 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,452
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - An active B&B license and HMC-1 zoning accompany a three-unit configuration with an owner’s residence.
Where is this short term rental property located?
The property is located at 2109-11 CHARTRES Street New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two updated 1‑bedroom/1‑bath units plus a rear 2‑bedroom/1‑bath residence; 3,000 square feet; currently used as a short‑term rental; Active B&B license and HMC‑1 zoning
