Multi-Use Retail Building
2331 CANAL Street New Orleans, LA 70119
2331 CANAL Street, New Orleans, LA, 70119
$745,000
For Sale
$745,000
Retail space totaling about 3,200 square feet is offered for sale with Multi-Use zoning.
Property Size3,204 SF
Price / SF$232.52
Days on Market336
Property Features for 2331 CANAL Street
General Information
- Standard status
- Active
- Size
- 3,204 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1864
Listing agency
Composite Realty Group, LLC
(504) 430-4490
Listed by
Demetria Miller · License #0995693648
(504) 430-4490
Source
Xome
Added: Aug 21, 2025 Updated: Jul 21 at 4:50AM Checked: Jul 22 at 3:39AM
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 Composite Realty Group, LLC
Investment Insights
Based on property information with market context.
For sale: a retail/commercial building offering approximately 3,204 square feet of versatile space, marketed under Multi-Use zoning. The property is being offered with the potential for customized improvements, and it also includes an additional lot at 116 N. Tonti, which may be used for private parking or for future development.
Located on Canal Street in New Orleans, the property sits across from the VA Hospital and steps from restaurants. It also has direct access to the Canal Streetcar line and is described as being along the Endymion parade route.
This offering combines a street-facing commercial asset with an included second parcel, supporting multiple ways to configure day-to-day operations or future site planning, subject to applicable approvals.
Located on Canal Street in New Orleans, the property sits across from the VA Hospital and steps from restaurants. It also has direct access to the Canal Streetcar line and is described as being along the Endymion parade route.
This offering combines a street-facing commercial asset with an included second parcel, supporting multiple ways to configure day-to-day operations or future site planning, subject to applicable approvals.
Key Highlights
- About 3,200 sq. ft. of versatile retail/commercial space for sale with Multi‑Use zoning
- Year built 1864 with historic Canal Street frontage
- Additional lot included at 116 N. Tonti, offering extra off‑street parking potential
Local Financial Insights For 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 | $73.8k | $23.04 |
| − Vacancy | −$1.5k | −$0.46 |
| EGI | $72.3k | $22.58 |
| − OpEx | −$21.7k | −$6.77 |
| NOI | $50.6k | $15.81 |
3,204 SF · lease $23.04/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$723.4K
$633.0K – $844.0K
NOI $50,641 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$838.4K
$733.6K – $978.1K
NOI $58,687 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Beaucoup Eats
Take-out & Catering
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail space totaling about 3,200 square feet is offered for sale with Multi-Use zoning.
Where is this retail space located?
The property is located at 2331 CANAL Street New Orleans, LA.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: About 3,200 sq. ft. of versatile retail/commercial space for sale with Multi‑Use zoning; Year built 1864 with historic Canal Street frontage; Additional lot included at 116 N. Tonti, offering extra off‑street parking potential
