Mixed-Use Building Near Trader
For Sale
$600,000
2512 Tulane Ave, New Orleans, LA 70119
MU-2 zoning accommodates office, retail, and multifamily occupancy within one commercial property.
Property Size4,576 SF
Price / SF$131.12
Days on Market20
Property Features for 2512 Tulane Ave
General Information
Standard status
Active
Size
4,576 SF
Property subtype
Office
Zoning
MU-2
Listing Agency:
Property One Inc Mandeville
(985) 807-4120
Listed By:
Michael D'Amico · License #0000006690
(985) 807-4120
Source:
Lacdb.resimplifi
Added: Aug 13
Changed: Aug 31
Last Checked: Aug 31 at 12:53PM
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 Mandeville
Investment Insights
Based on property information with market context.
Located at 2512 Tulane Ave, this 4,576-square-foot mixed-use building combines office and retail space with multifamily units on the second floor. The property is occupied by office, retail, and multifamily tenants, creating a varied income-producing configuration within a single asset.
The building sits across from a new Trader Joe’s facility on Tulane Avenue and near the Department of Veterans Affairs medical center. University Medical Center is also located down the street. MU-2 High Intensity Mixed-Use District zoning applies to the property, and the reported capitalization rate is approximately 8.82 percent.
The building sits across from a new Trader Joe’s facility on Tulane Avenue and near the Department of Veterans Affairs medical center. University Medical Center is also located down the street. MU-2 High Intensity Mixed-Use District zoning applies to the property, and the reported capitalization rate is approximately 8.82 percent.
Key Highlights
- 4,576‑square‑foot mixed‑use building at 2512 Tulane Ave
- Office, retail, and multifamily tenants in one property
- Multifamily units occupy the second floor
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
Retail
$1.03M
$904.1K – $1.21M
NOI $72,326 @ 7.0% cap · market cap 12.05%
Second Best
Office B
$970.8K
$849.4K – $1.13M
NOI $67,954 @ 7.0% cap · market cap 11.33%
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 Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MU-2 zoning accommodates office, retail, and multifamily occupancy within one commercial property.
Where is this mixed-use property located?
The property is located at 2512 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 at 2512 Tulane Ave; Office, retail, and multifamily tenants in one property; Multifamily units occupy the second floor
