Business-Zoned
For Sale
$749,000
2600-02 GENERAL PERSHING Street, New Orleans, LA 70115
Multi-Family, New Orleans, LA
Property Size3,896 SF
Price / SF$192.25
Days on Market144
Property Features for 2600-02 GENERAL PERSHING Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Fence
Fencing
Fenced
Lot features
Oversized
Subdivision
Milan
Standard status
Active
APN
102202305
Size
3,896 SF
Taxes and HOA fees
Tax Description
SQ 623 LOT Q GEN PERSHING
Legal Description
SQ 623 LOT Q GEN PERSHING
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1977
Floors in Building
2
Number of units
4
Roof type
Asphalt
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Arnold Yoo · License #995706084
(504) 615-3499
Added: Apr 14
Changed: Aug 19
Last Checked: Sep 4 at 1:06AM
MLS# 2552865
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,896-square-foot quadplex is configured as a corner property with three additional units and flexible floor plans. The spaces receive abundant natural light and include central heating, central air, public water, an asphalt roof, and fencing. Four off-street parking spaces serve the property, which was built in 1977.
The property is located near Freret Street in New Orleans and is zoned HU-B1 Neighborhood Business District. The stated use possibilities include storefront, cafe, gallery, office, residential, or a combination of these uses, subject to verification with the City of New Orleans and any required business approvals.
The configuration supports consideration of rental, office, and short-term residential applications, with permitted uses and approvals to be confirmed by the buyer.
The property is located near Freret Street in New Orleans and is zoned HU-B1 Neighborhood Business District. The stated use possibilities include storefront, cafe, gallery, office, residential, or a combination of these uses, subject to verification with the City of New Orleans and any required business approvals.
The configuration supports consideration of rental, office, and short-term residential applications, with permitted uses and approvals to be confirmed by the buyer.
Key Highlights
- 3,896‑square‑foot quadplex on a corner property
- HU‑B1 Neighborhood Business District zoning
- Three additional units provide flexible space configuration
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
6.32%
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 6.32%
Second Best
Multifamily LT 5
$478.4K
$418.6K – $558.1K
NOI $33,487 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.03M
$899.4K – $1.20M
NOI $71,951 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Quadplex - Corner property with off-street parking and flexible spaces near Freret Street.
Where is this quadplex 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 $749,000.
What are key features of this property?
This property features: 3,896‑square‑foot quadplex on a corner property; HU‑B1 Neighborhood Business District zoning; Three additional units provide flexible space configuration
