Apartment Building Portfolio with Six
For Sale
$1,750,000
2500-2522 Freret Street, New Orleans, LA 70113
Apartment building portfolio with six units, 100% leased, and recently renovated interiors and modern systems.
Property Size9,694 SF
Days on Market65
Property Features for 2500-2522 Freret Street
General Information
Standard status
Active
Size
9,694 SF
Property subtype
Multi Family Home
Occupancy
100%
Building Details
Building Size
9,694 SF
Year Built
1905
Buildings
6
Stories
1
Listing Agency:
Re/Max Commercial Brokers, Inc.
(504) 915-8877
Listed By:
Richard Juge · License #BROK.31432.A-ACT
(504) 915-8877
Source:
Nolalivingrealty
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 12 at 12:51PM
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 Re/Max Commercial Brokers, Inc.
Investment Insights
Based on property information with market context.
This apartment building portfolio consists of six (6) multifamily buildings. The portfolio is currently 100% leased. Built in 1905, the properties have recently been renovated with updated interiors, modern systems, and curb appeal improvements.
The buildings are located at 2500-2522 Freret Street in New Orleans, Louisiana 70113.
The portfolio configuration can support tenants seeking established apartment buildings with renovation-focused updates across the six-building group.
The buildings are located at 2500-2522 Freret Street in New Orleans, Louisiana 70113.
The portfolio configuration can support tenants seeking established apartment buildings with renovation-focused updates across the six-building group.
Key Highlights
- Six (6) apartment buildings in one portfolio
- Currently 100% leased
- Recently renovated with updated interiors
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
$112,827
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
6.45%
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%
$2,256,540
$2.3M
Cap Rate 7%
$1,611,814
$1.6M
Cap Rate 9%
$1,253,633
$1.3M
Market Conditions
NOI Build-Up for 9,694 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
$225.7K $23.28/SF
− Vacancy
−$20.5K −$2.12/SF
EGI
$205.1K $21.16/SF
− OpEx
−$92.3K −$9.52/SF
NOI
$112.8K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /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%
$2,256,540
Cap Rate 7%
$1,611,814
Cap Rate 9%
$1,253,633
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,827 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.16M – $2.87M
NOI $172,473 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 - Apartment building portfolio with six units, 100% leased, and recently renovated interiors and modern systems.
Where is this apartment building located?
The property is located at 2500-2522 Freret Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six (6) apartment buildings in one portfolio; Currently 100% leased; Recently renovated with updated interiors
