Corner Mixed-Use
For Sale
$769,000
2600-02 General Pershing Street, New Orleans, LA 70115
HU-B1 zoning supports a flexible combination of storefront, office, residential, and neighborhood-oriented uses, subject to city approval.
Property Size3,896 SF
Price / SF$197.38
Days on Market302
Property Features for 2600-02 General Pershing Street
General Information
Standard status
Active
Size
3,896 SF
Total Parking Spaces
4
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Zoning
HU-B1
Additional Details
Corner Location
Yes
Amenities
Central Air
Central
2
4
5
1
Yes
Asphalt
Other
Pillar/Post/Pier
HardiPlank Type
Building Details
Year Built
1977
Tenancy
Multi
Listing Agency:
McEnery Residential, LLC
(504) 615-3499
Listed By:
Arnold Yoo · License #995706084
(504) 615-3499
Source:
Compass
Added: Nov 2, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:27PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
This corner mixed-use property contains 3,896 square feet and includes three additional units, creating a flexible configuration for rental, office, residential, or combined occupancy. The layout is supported by abundant natural light, adaptable interior spaces, central air, and off-street parking for 4 cars. Exterior construction includes HardiPlank siding over a pillar/post/pier foundation with an asphalt surface.
Located at 2600-02 General Pershing Street in New Orleans, the property sits near Freret Street and is surrounded by neighborhood shops, restaurants, and other local destinations. HU-B1 Neighborhood Business District zoning is identified for the property; buyers should confirm permitted uses and obtain city approval before pursuing a business operation.
Located at 2600-02 General Pershing Street in New Orleans, the property sits near Freret Street and is surrounded by neighborhood shops, restaurants, and other local destinations. HU-B1 Neighborhood Business District zoning is identified for the property; buyers should confirm permitted uses and obtain city approval before pursuing a business operation.
Key Highlights
- 3,896‑square‑foot corner mixed‑use property
- Three additional units support rental, office, residential, or combined occupancy
- HU‑B1 Neighborhood Business 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
$47,336
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
6.16%
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%
$946,720
$946.7K
Cap Rate 7%
$676,229
$676.2K
Cap Rate 9%
$525,956
$526.0K
Market Conditions
NOI Build-Up for 3,896 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
$84.2K $21.60/SF
− Vacancy
−$8.4K −$2.16/SF
EGI
$75.7K $19.44/SF
− OpEx
−$28.4K −$7.29/SF
NOI
$47.3K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$946,720
Cap Rate 7%
$676,229
Cap Rate 9%
$525,956
Alternative Uses
Best Use
Mixed Use
$676.2K
$591.7K – $788.9K
NOI $47,336 @ 7.0% cap · market cap 6.16%
Second Best
Multifamily LT 5
$478.4K
$418.6K – $558.1K
NOI $33,487 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$1.03M
$899.4K – $1.20M
NOI $71,951 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - HU-B1 zoning supports a flexible combination of storefront, office, residential, and neighborhood-oriented uses, subject to city approval.
Where is this mixed-use property located?
The property is located at 2600-02 General Pershing Street New Orleans, LA.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 3,896‑square‑foot corner mixed‑use property; Three additional units support rental, office, residential, or combined occupancy; HU‑B1 Neighborhood Business District zoning
