French Quarter Mixed-Use
For Sale
$5,750,000
222-224 CHARTRES Street, New Orleans, LA 70130
Two connected historic buildings combine leased retail space with existing condominiums and areas planned for additional residential units.
Property Size19,035 SF
Price / SF$302.08
Days on Market314
Property Features for 222-224 CHARTRES Street
General Information
Standard status
Active
Size
19,035 SF
Zoning
VCC-2
Additional Details
Asking Price
$5,750,000
Building Details
Building Size
19,035 SF
Year Built
1860
Buildings
2
Tenancy
Multi
Listing Agency:
Talbot Realty Group
Listed By:
Ross Talbot · License #995709969
(504) 237-3744
Source:
Talbot-realty
Added: Dec 10, 2025
Changed: Oct 17
Last Checked: Oct 19 at 3:11AM
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 Talbot Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use offering comprises two adjacent buildings totaling 19,035 square feet at 222-224 Chartres Street. Built in 1860, the property includes two leased retail spaces, four existing residential condominium units, and unimproved areas identified for seven additional residential units. The building at 222 Chartres Street includes the Legendairy Milkshake Bar and proposed condominiums, while 224 Chartres Street includes Pepper Palace, Inc. and four residential condominiums.
The property is located in New Orleans’ French Quarter and is zoned VCC-2 within the Vieux Carre Commercial District. The combination of established retail occupancy, residential condominium units, and additional unimproved building areas creates a varied mixed-use configuration across the two addresses.
The property is located in New Orleans’ French Quarter and is zoned VCC-2 within the Vieux Carre Commercial District. The combination of established retail occupancy, residential condominium units, and additional unimproved building areas creates a varied mixed-use configuration across the two addresses.
Key Highlights
- 19,035 SF across two adjacent buildings at 222‑224 Chartres Street
- Built in 1860 in New Orleans’ French Quarter
- Two leased retail spaces, including Legendairy Milkshake Bar and Pepper Palace, Inc.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$256,973
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,139,460
$5.1M
Cap Rate 7%
$3,671,043
$3.7M
Cap Rate 9%
$2,855,256
$2.9M
Market Conditions
NOI Build-Up for 19,035 SF
Gross rent
$456.8K $24.00/SF
− Vacancy
−$45.7K −$2.40/SF
EGI
$411.2K $21.60/SF
− OpEx
−$154.2K −$8.10/SF
NOI
$257.0K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,139,460
Cap Rate 7%
$3,671,043
Cap Rate 9%
$2,855,256
Alternative Uses
Best Use
Mixed Use
$3.67M
$3.21M – $4.28M
NOI $256,973 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$3.36M
$2.94M – $3.92M
NOI $235,044 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$4.84M
$4.23M – $5.64M
NOI $338,665 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
10,425
Businesses Nearby
438k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 66%
Dining 11%
Groceries 9%
Shops & Services 7%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.2 miles
Rouses Market
Groceries
35,073 visits/mo
0.3 miles
Chevron
Shops & Services
23,516 visits/mo
0.4 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.5 miles
Hotel Fontenot
Hotels & Casinos
20,339 visits/mo
0.4 miles
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 Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected historic buildings combine leased retail space with existing condominiums and areas planned for additional residential units.
Where is this mixed-use property located?
The property is located at 222-224 CHARTRES Street New Orleans, LA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 19,035 SF across two adjacent buildings at 222‑224 Chartres Street; Built in 1860 in New Orleans’ French Quarter; Two leased retail spaces, including Legendairy Milkshake Bar and Pepper Palace, Inc.
