For Sale
$299,000
2622 BAYOU ROAD, New Orleans, LA 70119
COMMERCIAL - New Orleans, LA
Property Size1,067 SF
Price / SF$280.22
Days on Market125
Property Features for 2622 BAYOU ROAD
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-MU
Lot features
Irregular
Standard status
Active
APN
2622-BAYOURD
Size
1,067 SF
Taxes and HOA fees
Tax Description
1. SQ 1529 LOT B BAYOU RD 2. 4-26 OVER 28 X 34 OVER 9-21 3. SGLE/FR 2/ST 6/RM S/R
Legal Description
1. SQ 1529 LOT B BAYOU RD 2. 4-26 OVER 28 X 34 OVER 9-21 3. SGLE/FR 2/ST 6/RM S/R
Utilities
Water source
Public
Building Details
Year built
2015
Floors in Building
2
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
James Howell · License #000033645
(504) 982-5921
Added: Apr 21
Changed: Aug 5
Last Checked: Aug 23 at 12:06AM
MLS# 2552743
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.
Key Highlights
- Active, transferable Commercial Short Term Rental license with solid rental history and future bookings; turnkey opportunity with existing property management available.
- Prime location: just 3 blocks from Fairgrounds, minutes from Bayou St. John, City Park, and French Quarter.
- Sold fully furnished and move‑in ready, ideal for primary residence, second home, or short‑term rental.
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
$12,419
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
4.15%
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%
$248,380
$248.4K
Cap Rate 7%
$177,414
$177.4K
Cap Rate 9%
$137,989
$138.0K
Market Conditions
NOI Build-Up for 1,067 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
$24.8K $23.28/SF
− Vacancy
−$2.3K −$2.12/SF
EGI
$22.6K $21.16/SF
− OpEx
−$10.2K −$9.52/SF
NOI
$12.4K $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%
$248,380
Cap Rate 7%
$177,414
Cap Rate 9%
$137,989
Alternative Uses
Best Use
Apartment 5plus
$177.4K
$155.2K – $207.0K
NOI $12,419 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$279.2K
$244.3K – $325.7K
NOI $19,544 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,277
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this short term rental property located?
The property is located at 2622 BAYOU ROAD New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Active, transferable Commercial Short Term Rental license with solid rental history and future bookings; turnkey opportunity with existing property management available.; Prime location: just 3 blocks from Fairgrounds, minutes from Bayou St. John, City Park, and French Quarter.; Sold fully furnished and move‑in ready, ideal for primary residence, second home, or short‑term rental.
