Two-Story Mixed-Use
For Sale
$1,195,000
2337 Canal St, New Orleans, LA 70119
Restaurant occupancy on the ground floor is paired with a furnished rental residence above.
Property Size2,732 SF
Price / SF$437.41
Days on Market264
Property Features for 2337 Canal St
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
5
Property subtype
Retail
Zoning
HU-MU
Amenities
5 Parking Spaces
Building Details
Buildings
1
Stories
2
Listing Agency:
Talbot Realty Group
(540) 421-5282
Listed By:
Gabriel Massey
(540) 421-5282
Source:
Lacdb.resimplifi
Added: Dec 8, 2025
Changed: Aug 28
Last Checked: Aug 28 at 9:17PM
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-level mixed-use building combines a leased restaurant space with an income-producing furnished residential unit. The ground floor contains approximately 1,276 SF and is occupied under a five-year NNN lease running through November 30, 2028. The second floor provides approximately 1,455 SF of furnished mid-term rental space with 5 beds and 5 baths. Mechanical, electrical, and plumbing systems were updated in 2022.
The property is located on Canal Street in New Orleans, with proximity to Downtown, Mid-City, and the Medical District. Nearby institutional and neighborhood context includes University Medical Center, the VA Hospital, retail, hospitality businesses, and residential development. HU-MU zoning supports the mixed-use character of the asset.
The property is located on Canal Street in New Orleans, with proximity to Downtown, Mid-City, and the Medical District. Nearby institutional and neighborhood context includes University Medical Center, the VA Hospital, retail, hospitality businesses, and residential development. HU-MU zoning supports the mixed-use character of the asset.
Key Highlights
- Two‑story mixed‑use building with restaurant and furnished rental components
- Ground‑floor restaurant space measures approximately 1,276 SF
- Five‑year NNN lease runs through November 30, 2028
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
$46,265
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
3.87%
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%
$925,300
$925.3K
Cap Rate 7%
$660,929
$660.9K
Cap Rate 9%
$514,056
$514.1K
Market Conditions
NOI Build-Up for 2,732 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
$62.9K $23.04/SF
− Vacancy
−$1.3K −$0.46/SF
EGI
$61.7K $22.58/SF
− OpEx
−$15.4K −$5.64/SF
NOI
$46.3K $16.93/SF
Area
ZIP 70119
Vacancy
2.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$925,300
Cap Rate 7%
$660,929
Cap Rate 9%
$514,056
Alternative Uses
Best Use
Specialty Retail
$660.9K
$578.3K – $771.1K
NOI $46,265 @ 7.0% cap · market cap 3.87%
Second Best
Mixed Use
$515.2K
$450.8K – $601.0K
NOI $36,062 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$714.9K
$625.5K – $834.0K
NOI $50,041 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant occupancy on the ground floor is paired with a furnished rental residence above.
Where is this mixed-use property located?
The property is located at 2337 Canal St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑story mixed‑use building with restaurant and furnished rental components; Ground‑floor restaurant space measures approximately 1,276 SF; Five‑year NNN lease runs through November 30, 2028
