Single-Tenant NNN
For Sale
$1,049,000
2231 Saint Claude Ave, New Orleans, LA 70116
Fully leased hospitality asset with live entertainment permitting and recent capital improvements.
Property Size5,112 SF
Price / SF$205.20
Days on Market55
Property Features for 2231 Saint Claude Ave
General Information
Standard status
Active
Size
5,112 SF
Occupancy
100%
Additional Details
Cap Rate
6.34%
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
FQR Realtors
(504) 782-6883
Listed By:
Eric Wilkinson · License #995700355
(504) 782-6883
Source:
Exprealty
Added: Jun 8
Changed: Jul 31
Last Checked: Jul 31 at 2:23PM
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 FQR Realtors
Investment Insights
Based on property information with market context.
2231 Saint Claude Avenue is a 5,112-square-foot commercial property leased to Emporium Arcade Bar under a Triple NNN lease. The tenant occupies 100% of the building and operates under an active bar and live entertainment permit. The lease is currently in Year 5 of an initial 10-year term, with built-in rental escalations and a current 6.34% cap rate projected to increase to 7.14%. Capital improvements and tenant buildout were completed between 2021–2022, substantially modernizing the property. The tenant is expected to remain in place, while business operations are excluded from the sale. The property is located on Saint Claude Avenue in New Orleans, within an entertainment and redevelopment corridor.
Key Highlights
- 5,112‑square‑foot commercial property at 2231 Saint Claude Avenue
- 100% occupied by Emporium Arcade Bar
- Triple NNN lease in Year 5 of an initial 10‑year term
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.2k | $19.20 |
| − Vacancy | −$2.0k | −$0.38 |
| EGI | $96.2k | $18.82 |
| − OpEx | −$24.0k | −$4.70 |
| NOI | $72.1k | $14.11 |
5,112 SF · lease $19.20/SF/yr · vacancy 2.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.03M
$901.8K – $1.20M
NOI $72,141 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,951 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
109k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 46%
Hotels & Casinos 8%
McDonald's
Dining
19,863 visits/mo
0.3 miles
Shell
Shops & Services
14,799 visits/mo
0.4 miles
Starbucks
Dining
12,255 visits/mo
0.1 miles
Family Dollar
Shops & Services
11,454 visits/mo
0.4 miles
Hampton Inn New Orleans French Quarter Market Area
Hotels & Casinos
9,002 visits/mo
0.4 miles
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 Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully leased hospitality asset with live entertainment permitting and recent capital improvements.
Where is this nnn property located?
The property is located at 2231 Saint Claude Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: 5,112‑square‑foot commercial property at 2231 Saint Claude Avenue; 100% occupied by Emporium Arcade Bar; Triple NNN lease in Year 5 of an initial 10‑year term
