Historic Bed-and-Breakfast
For Sale
$850,000
2109-11 CHARTRES Street, New Orleans, LA 70116
Commercial, New Orleans, LA
Property Size3,000 SF
Price / SF$283.33
Days on Market369
Property Features for 2109-11 CHARTRES Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-1
Lot features
Regular
Subdivision
Marigny Triangle
Standard status
Active
APN
2111 CHARTRES
Size
3,000 SF
Taxes and HOA fees
Tax Description
SQ 153 LOT F 20 CHARTRES
Legal Description
SQ 153 LOT F 20 CHARTRES
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Joshua Walther · License #000076446
(504) 717-5612
Added: Sep 2, 2025
Changed: Sep 5
Last Checked: Sep 5 at 11:06PM
MLS# 2519637
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.
Built in 1900, this 3,000-square-foot bed-and-breakfast property combines two updated one-bedroom, one-bath units with a separate two-bedroom, one-bath owner’s residence. The interior retains historic details including fireplace mantels, hardwood floors, high ceilings with transoms, and original pocket doors. Foundation, electrical, and plumbing improvements have been completed, and the property is offered fully furnished.
An active B&B license is in place, and the property is currently used as a short-term rental. The HMC-1 zoning and existing configuration accommodate hospitality use, while the layout also includes a 450-square-foot electrified detached brick workshop for studio, office, or storage purposes. The property is located in New Orleans’ Marigny Triangle near Frenchmen Street and the French Quarter, with public water service.
An active B&B license is in place, and the property is currently used as a short-term rental. The HMC-1 zoning and existing configuration accommodate hospitality use, while the layout also includes a 450-square-foot electrified detached brick workshop for studio, office, or storage purposes. The property is located in New Orleans’ Marigny Triangle near Frenchmen Street and the French Quarter, with public water service.
Key Highlights
- HMC‑1 zoning with an active B&B license
- 3,000 square feet with two 1‑bedroom/1‑bath units and a 2‑bedroom/1‑bath residence
- 450‑square‑foot electrified detached brick workshop
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
$37,987
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
4.47%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,452
Businesses Nearby
Well-served
Demand for This Use
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?
Bed & breakfast - HMC-1-zoned hospitality property with two guest units, an owner’s residence, and an active B&B license.
Where is this bed & breakfast 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: HMC‑1 zoning with an active B&B license; 3,000 square feet with two 1‑bedroom/1‑bath units and a 2‑bedroom/1‑bath residence; 450‑square‑foot electrified detached brick workshop
