Multifamily Portfolio with Renovated
For Sale
$1,750,000
2500 Freret St, New Orleans, LA 70113
Seven-building portfolio combines updated duplex properties with one building requiring comprehensive renovation.
Property Size9,694 SF
Price / SF$180.52
Days on Market431
Property Features for 2500 Freret St
General Information
Standard status
Active
Size
9,694 SF
Property subtype
Multifamily
Property Condition
Severity
Major Repairs Needed
Evidence
requiring a full renovation
Building Details
Buildings
7
Listing Agency:
REMAX Commercial Brokers, Inc
(504) 838-0001
Listed By:
Cameron Lombardo · License #SALE.0995695512-ACT
(504) 838-0001
Source:
Lacdb.resimplifi
Added: Jun 25, 2025
Changed: Aug 27
Last Checked: Aug 28 at 6:49AM
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 REMAX Commercial Brokers, Inc
Investment Insights
Based on property information with market context.
This New Orleans multifamily portfolio consists of seven buildings, including six renovated doubles with refreshed interiors and updated building systems. The remaining building requires a full renovation, creating a distinct repositioning component within the portfolio. The properties are located at 2500 Freret Street along the Freret Street corridor in New Orleans, an area identified in the source information as having experienced notable growth. The portfolio qualifies for HANO vouchers, supporting rental operations through government subsidy. The offering brings together renovated residential assets and a separate renovation project within one multifamily acquisition.
Key Highlights
- Six renovated doubles with updated interiors and building systems
- Seven‑building multifamily portfolio at 2500 Freret Street
- One building requires a full renovation
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
$122,750
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
7.01%
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%
$2,455,000
$2.5M
Cap Rate 7%
$1,753,571
$1.8M
Cap Rate 9%
$1,363,889
$1.4M
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
$191.9K $19.80/SF
− Vacancy
−$16.6K −$1.71/SF
EGI
$175.4K $18.09/SF
− OpEx
−$52.6K −$5.43/SF
NOI
$122.8K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$2,455,000
Cap Rate 7%
$1,753,571
Cap Rate 9%
$1,363,889
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.05M
NOI $122,750 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,827 @ 7.0% cap · market cap 6.45%
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
Property Profile
Current Use
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?
Multifamily property - Seven-building portfolio combines updated duplex properties with one building requiring comprehensive renovation.
Where is this multifamily property located?
The property is located at 2500 Freret St 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 renovated doubles with updated interiors and building systems; Seven‑building multifamily portfolio at 2500 Freret Street; One building requires a full renovation
