34-Unit Two-Story Apartment
For Sale
$3,390,000
2300 N BROAD Street, New Orleans, LA 70122
Two-story multifamily property with one-bedroom apartments and HU-MU zoning.
Property Size14,098 SF
Lot Size0.56 Acres
Price / SF$178.95
Days on Market245
Property Features for 2300 N BROAD Street
General Information
Standard status
Active
Size
14,098 SF
Lot size
0.56 Acres
Property subtype
Apartment
Zoning
HU-MU
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
34 x 1BR/1BA
Multifamily Units
34
Building Details
Building Size
14,098 SF
Year Built
1970
Stories
2
Listing Agency:
Talbot Realty Group
(504) 319-1452
Listed By:
Christopher Talbot · License #000075986
Source:
Burkbrokerage
Added: Dec 9, 2025
Changed: Aug 2
Last Checked: Aug 11 at 12:21PM
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
Investment Insights
Based on property information with market context.
This two-story apartment property contains 34 one-bedroom, one-bath residences within approximately 18,944 SF. Each apartment measures approximately 500 SF, and the community occupies 0.56 acres. Built in 1970, the property carries HU-MU zoning and is configured as a dedicated multifamily asset.
The property is situated at 2300 N Broad Street in New Orleans along the Broad Street corridor, with access to Gentilly, Mid-City, the Seventh Ward, Fair Grounds Race Course, I-610, and I-10. The tenant base includes HANO, LHA, Unity, and VOA. Additional property-level operating information is available through the marketing representative.
The property is situated at 2300 N Broad Street in New Orleans along the Broad Street corridor, with access to Gentilly, Mid-City, the Seventh Ward, Fair Grounds Race Course, I-610, and I-10. The tenant base includes HANO, LHA, Unity, and VOA. Additional property-level operating information is available through the marketing representative.
Key Highlights
- 34‑unit multifamily property with 34 one‑bedroom, one‑bath apartments
- Approximately 18,944 SF on 0.56 acres
- Two‑story building constructed in 1970
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
$170,479
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
5.03%
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%
$3,409,580
$3.4M
Cap Rate 7%
$2,435,414
$2.4M
Cap Rate 9%
$1,894,211
$1.9M
Market Conditions
NOI Build-Up for 18,944 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
$341.0K $18.00/SF
− Vacancy
−$31.0K −$1.64/SF
EGI
$310.0K $16.36/SF
− OpEx
−$139.5K −$7.36/SF
NOI
$170.5K $9.00/SF
Area
ZIP 70122
Vacancy
9.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,409,580
Cap Rate 7%
$2,435,414
Cap Rate 9%
$1,894,211
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.84M
NOI $170,479 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.96M
$4.34M – $5.78M
NOI $346,993 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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?
Apartment building - Two-story multifamily property with one-bedroom apartments and HU-MU zoning.
Where is this apartment building located?
The property is located at 2300 N BROAD Street New Orleans, LA.
What is the asking price?
The asking price for this property is $3,390,000.
What are key features of this property?
This property features: 34‑unit multifamily property with 34 one‑bedroom, one‑bath apartments; Approximately 18,944 SF on 0.56 acres; Two‑story building constructed in 1970
