Building Details

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Listing Agency: Talbot Realty Group

Listed By: Gabriel Massey Show Phone

Source: Lacdb.resimplifi

Added: Dec 8, 2025 Changed: Sep 29 Last Checked: Oct 12 at 4:45PM

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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.

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 / Yr

$46,265

Cap Rate

3.87%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $46,265 @ 7.0% cap · market cap 3.87%

Second Best

Mixed Use

$515.2K

$450.8K – $601.0K (±1% cap)

NOI $36,062 @ 7.0% cap · market cap 3.02%

Theoretical Best

Office A

$714.9K

$625.5K – $834.0K (±1% cap)

NOI $50,041 @ 7.0% cap · market cap 4.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Pet Grooming Service (Bike/Boat/Book/etc) Store Locksmith Nursing Home Furniture & Home Goods Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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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