Historic French Quarter Development
For Sale
$2,595,000
211 Decatur St, New Orleans, LA 70130
Four-story, 10,287 SF historic building in the Vieux Carré Entertainment District.
Property Size10,287 SF
Price / SF$252.26
Days on Market274
Property Features for 211 Decatur St
General Information
Standard status
Active
Size
10,287 SF
Class
A
Property subtype
Office
Building Details
Building Size
10,287 SF
Year Built
1850
Listing Agency:
(504) 236-7816
Listed By:
Reed Wiley, CCIM · License #LA #BROK.995704349-ASA
(504) 236-7816
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 18
Last Checked: Aug 22 at 5:18AM
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 Reed Wiley, CCIM
Investment Insights
Based on property information with market context.
Located at the gateway of the French Quarter, next to the House of Blues, this four-story building offers a development opportunity. The property has approximately 10,287 square feet of improvements and is eligible for historic tax credits. It includes an elevator shaft and first-floor rear ingress/egress, situated on a parcel of approximately 2,910 square feet. The site is zoned VCE-1 (Vieux Carré Entertainment District), allowing for a multitude of uses.
Key Highlights
- Prime location at the gateway of the French Quarter, next to the House of Blues.
- Significant ±10,287 SF building with historic significance and timeless architectural character.
- Zoned VCE‑1 (Vieux Carré Entertainment District) allowing for diverse development potential.
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
$151,632
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
5.84%
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%
$3,032,640
$3.0M
Cap Rate 7%
$2,166,171
$2.2M
Cap Rate 9%
$1,684,800
$1.7M
Market Conditions
NOI Build-Up for 10,287 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
$234.5K $22.80/SF
− Vacancy
−$32.4K −$3.15/SF
EGI
$202.2K $19.65/SF
− OpEx
−$50.5K −$4.91/SF
NOI
$151.6K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,032,640
Cap Rate 7%
$2,166,171
Cap Rate 9%
$1,684,800
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,632 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $183,023 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,425
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Four-story, 10,287 SF historic building in the Vieux Carré Entertainment District.
Where is this office building located?
The property is located at 211 Decatur St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Prime location at the gateway of the French Quarter, next to the House of Blues.; Significant ±10,287 SF building with historic significance and timeless architectural character.; Zoned VCE‑1 (Vieux Carré Entertainment District) allowing for diverse development potential.
