Mixed-Use Building with
For Sale
Contact for pricing
2512/2514 Tulane Ave., New Orleans, LA 70119
The second floor contains multifamily space within an MU-2 High Intensity Mixed-Use District.
Property Size4,576 SF
Price / SF$131.12
Days on Market67
Property Features for 2512/2514 Tulane Ave.
General Information
Standard status
Active
Size
4,576 SF
Property subtype
Office
Zoning
MU-2 High Intensity Mixed-Use District
Additional Details
Cap Rate
8.82%
Listing Agency:
Property One Inc
Listed By:
Matt Taylor · License #LA 0000006690
(504) 343-3428
Source:
Crexi
Added: Aug 12
Changed: Oct 6
Last Checked: Oct 16 at 8:17AM
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 Property One Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,576-square-foot mixed-use building includes multifamily space on the second floor and is designated MU-2 High Intensity Mixed-Use District. The property is described as income producing and carries an 8.82 percent cap rate.
The building is located on Tulane Ave. in New Orleans, across from a new Trader Joe's facility and near the Department of Veterans Affairs Medical Center. A vacant lot and the neighboring building are also identified as potential additional acquisition opportunities.
The building is located on Tulane Ave. in New Orleans, across from a new Trader Joe's facility and near the Department of Veterans Affairs Medical Center. A vacant lot and the neighboring building are also identified as potential additional acquisition opportunities.
Key Highlights
- 4,576‑square‑foot mixed‑use building
- Multifamily space located on the second floor
- MU‑2 High Intensity Mixed‑Use District zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,259
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,180
$1.1M
Cap Rate 7%
$760,843
$760.8K
Cap Rate 9%
$591,767
$591.8K
Market Conditions
NOI Build-Up for 4,576 SF
Gross rent
$106.5K $23.28/SF
− Vacancy
−$9.7K −$2.12/SF
EGI
$96.8K $21.16/SF
− OpEx
−$43.6K −$9.52/SF
NOI
$53.3K $11.64/SF
Area
ZIP 70119
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 Rate 5%
$1,065,180
Cap Rate 7%
$760,843
Cap Rate 9%
$591,767
Alternative Uses
Best Use
Mixed Use
$862.9K
$755.0K – $1.01M
NOI $60,403 @ 7.0% cap · market cap 10.07%
Second Best
Apartment 5plus
$760.8K
$665.7K – $887.7K
NOI $53,259 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,818 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,235
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - The second floor contains multifamily space within an MU-2 High Intensity Mixed-Use District.
Where is this mixed-use property located?
The property is located at 2512/2514 Tulane Ave. New Orleans, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,576‑square‑foot mixed‑use building; Multifamily space located on the second floor; MU‑2 High Intensity Mixed‑Use District zoning
