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 Market22
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: Aug 31
Last Checked: Aug 31 at 9:56AM
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
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 = 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
$53,259
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
8.88%
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%
$1,065,180
$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
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
$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 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%
$1,065,180
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.
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
Questions? Ask Rey
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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
