Historic Storefront
For Sale
$2,000,000
235 N Peters St, New Orleans, LA 70130
Historic commercial building dating to 1850 near shopping, dining, and entertainment.
Property Size7,500 SF
Price / SF$266.67
Days on Market9
Property Features for 235 N Peters St
General Information
Standard status
Active
Size
7,500 SF
Building Details
Year Built
1850
Listing Agency:
Marquis Real Estate LLC
(678) 697-6132
Listed By:
Allen Kamara · License #995713949
Source:
Fiorellaavenue
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 29 at 3:49PM
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 Marquis Real Estate LLC
Investment Insights
Based on property information with market context.
This 7,500-square-foot storefront property at 235 N Peters St dates to 1850 and offers a substantial historic commercial presence. Its age and storefront classification distinguish it from newer retail inventory while preserving a direct connection to the character of New Orleans.
The property is positioned near Canal Place, the Mississippi River, and Bourbon Street, with access to the shopping, dining, and entertainment associated with the surrounding area. Its address places the building within a well-established commercial and cultural setting.
The property is positioned near Canal Place, the Mississippi River, and Bourbon Street, with access to the shopping, dining, and entertainment associated with the surrounding area. Its address places the building within a well-established commercial and cultural setting.
Key Highlights
- 7,500‑square‑foot storefront property
- Building constructed in 1850
- 235 N Peters St address in New Orleans
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
$92,610
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
4.63%
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%
$1,852,200
$1.9M
Cap Rate 7%
$1,323,000
$1.3M
Cap Rate 9%
$1,029,000
$1.0M
Market Conditions
NOI Build-Up for 7,500 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
$135.0K $18.00/SF
− Vacancy
−$2.7K −$0.36/SF
EGI
$132.3K $17.64/SF
− OpEx
−$39.7K −$5.29/SF
NOI
$92.6K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,852,200
Cap Rate 7%
$1,323,000
Cap Rate 9%
$1,029,000
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,610 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.22M
NOI $133,438 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,445
Businesses Nearby
309k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 63%
Dining 17%
Groceries 13%
Apparel 4%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.4 miles
Rouses Market
Groceries
35,073 visits/mo
0.3 miles
Hotel Fontenot
Hotels & Casinos
20,339 visits/mo
0.4 miles
DoubleTree by Hilton Hotel New Orleans
Hotels & Casinos
18,904 visits/mo
0.3 miles
Dick's Last Resort
Dining
16,371 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Historic commercial building dating to 1850 near shopping, dining, and entertainment.
Where is this storefront property located?
The property is located at 235 N Peters St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 7,500‑square‑foot storefront property; Building constructed in 1850; 235 N Peters St address in New Orleans
