Mixed-Use Property with Retail
For Sale
$5,750,000
224 Chartres St, New Orleans, LA 70130
Two adjacent buildings combine leased retail space with existing and planned residential units.
Property Size19,035 SF
Price / SF$302.08
Days on Market309
Property Features for 224 Chartres St
General Information
Standard status
Active
Size
19,035 SF
Property subtype
Multifamily
Zoning
VCC-2
Building Details
Year Built
1860
Listing Agency:
Talbot Realty Group
Listed By:
Robert Talbot · License #000006978
(504) 525-9763
Source:
Lacdb.resimplifi
Added: Dec 10, 2025
Changed: Oct 15
Last Checked: Oct 14 at 7:46PM
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
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Investment Insights
Based on property information with market context.
The offering includes two adjacent buildings with two leased retail suites and four existing residential condominium units located in 224 Chartres St. Built in 1860, the property carries VCC-2 zoning and combines commercial and residential components within one connected offering.
The rear and upper floors of 222 Chartres St contain shell space planned for seven additional residential units. Development plans are available, and infrastructure for that work is already in place. The property is located at 224 Chartres St in New Orleans, Louisiana, with the related building addressed as 222 Chartres St.
The rear and upper floors of 222 Chartres St contain shell space planned for seven additional residential units. Development plans are available, and infrastructure for that work is already in place. The property is located at 224 Chartres St in New Orleans, Louisiana, with the related building addressed as 222 Chartres St.
Key Highlights
- Two adjacent buildings at 224 Chartres St and 222 Chartres St
- Two leased retail suites included
- Four existing residential condominium units in 224 Chartres St
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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent buildings combine leased retail space with existing and planned residential units.
Where is this mixed-use property located?
The property is located at 224 Chartres St 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: Two adjacent buildings at 224 Chartres St and 222 Chartres St; Two leased retail suites included; Four existing residential condominium units in 224 Chartres St
