Mixed-Use Corner Property with
For Sale
Contact for pricing
2600 General Pershing Street, New Orleans, LA 70115
Corner mixed-use building in a HU-B1 district with four off-street parking spaces and multiple adaptable units.
Property Size3,896 SF
Price / SF$192.25
Days on Market62
Property Features for 2600 General Pershing Street
General Information
Standard status
Active
Size
3,896 SF
Total Parking Spaces
4
Property subtype
Office, Mixed Use, Multifamily
Zoning
HU-B1
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Parke McEnery · License #LA
Source:
Crexi
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 8 at 10:39AM
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 The McEnery Company
Investment Insights
Based on property information with market context.
This corner mixed-use property offers flexible space within a HU-B1 Neighborhood Business District. The building includes a primary storefront/space concept plus three additional units, providing options for office use, rentals, or short-term residential use subject to city approval. The interior spaces are described as bright with abundant natural light and offer flexible, adaptable floor plans.
Located on General Pershing Street in Uptown New Orleans, the property is described as just steps from Freret Street and positioned within a highly walkable neighborhood. The surrounding area includes neighborhood favorites, shops, and restaurants, supporting a mix of uses for local street-level activity. Off-street parking is available for four cars.
For tenants, buyers, and operators, the configuration can support a storefront or service concept while retaining the ability to use the additional units for office space, longer-term income, or short-term residential purposes pending city approval. Because permitted uses and zoning must be confirmed, the most practical next step is to verify compliance with the City of New Orleans prior to business approval and finalize a plan that matches HU-B1 requirements and your desired operating model.
Located on General Pershing Street in Uptown New Orleans, the property is described as just steps from Freret Street and positioned within a highly walkable neighborhood. The surrounding area includes neighborhood favorites, shops, and restaurants, supporting a mix of uses for local street-level activity. Off-street parking is available for four cars.
For tenants, buyers, and operators, the configuration can support a storefront or service concept while retaining the ability to use the additional units for office space, longer-term income, or short-term residential purposes pending city approval. Because permitted uses and zoning must be confirmed, the most practical next step is to verify compliance with the City of New Orleans prior to business approval and finalize a plan that matches HU-B1 requirements and your desired operating model.
Key Highlights
- Corner mixed‑use building in the HU‑B1 Neighborhood Business District
- Just steps from Freret Street in Uptown
- Off‑street parking for 4 cars
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
$45,813
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
6.12%
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%
$916,260
$916.3K
Cap Rate 7%
$654,471
$654.5K
Cap Rate 9%
$509,033
$509.0K
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
$69.2K $17.76/SF
− Vacancy
−$8.1K −$2.08/SF
EGI
$61.1K $15.68/SF
− OpEx
−$15.3K −$3.92/SF
NOI
$45.8K $11.76/SF
Area
ZIP 70115
Vacancy
11.72%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
25.00%
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%
$916,260
Cap Rate 7%
$654,471
Cap Rate 9%
$509,033
Alternative Uses
Best Use
Office B
$654.5K
$572.7K – $763.6K
NOI $45,813 @ 7.0% cap · market cap 6.12%
Second Best
Retail
$485.7K
$425.0K – $566.6K
NOI $33,996 @ 7.0% cap · market cap 4.54%
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 Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Corner mixed-use building in a HU-B1 district with four off-street parking spaces and multiple adaptable units.
Where is this quadplex located?
The property is located at 2600 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: Corner mixed‑use building in the HU‑B1 Neighborhood Business District; Just steps from Freret Street in Uptown; Off‑street parking for 4 cars
