Multi-Tenant Retail Building For
For Sale
$1,895,000
2700 Canal St, New Orleans, LA 70119
Multi-tenant retail building at Canal St and Broad St corner.
Property Size8,580 SF
Price / SF$220.86
Days on Market151
Property Features for 2700 Canal St
General Information
Standard status
Active
Size
8,580 SF
Property subtype
Retail
Building Details
Building Size
8,580 SF
Listed By:
Frank Lopiccolo
(504) 519-7693
Source:
Elifinrealty
Added: May 21
Changed: Oct 11
Last Checked: Oct 16 at 7:56AM
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 Frank Lopiccolo
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Investment Insights
Based on property information with market context.
The property at 2700 Canal St is a multi-tenant retail building with approximately 8,580 square feet. It is positioned at the corner of Canal St and Broad St. The two-story property has two of its three units currently occupied. One tenant operates a market deli, and the other runs a nail salon. Features include a gated parking lot, elevator access, natural gas hookup, and a steel generator installed on the roof. The location benefits from high visibility, with an annual average daily traffic count of approximately 26,083 at the Canal St/Broad St corner. It is located approximately 7 minutes from downtown New Orleans and City Park and is near a streetcar stop. The property is zoned HU-MU for Historic Urban Neighborhood Mixed-Use District.
Key Highlights
- ±8,580 SF multi‑tenant retail building at the corner of Canal St and Broad St.
- Located at a high‑visibility corner with ±26,083 annual average daily traffic.
- Two of three units are currently occupied by tenants (market deli and nail salon).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,297
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,905,940
$2.9M
Cap Rate 7%
$2,075,671
$2.1M
Cap Rate 9%
$1,614,411
$1.6M
Market Conditions
NOI Build-Up for 8,580 SF
Gross rent
$197.7K $23.04/SF
− Vacancy
−$4.0K −$0.46/SF
EGI
$193.7K $22.58/SF
− OpEx
−$48.4K −$5.64/SF
NOI
$145.3K $16.93/SF
Area
ZIP 70119
Vacancy
2.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,905,940
Cap Rate 7%
$2,075,671
Cap Rate 9%
$1,614,411
Alternative Uses
Best Use
Specialty Retail
$2.08M
$1.82M – $2.42M
NOI $145,297 @ 7.0% cap · market cap 7.67%
Second Best
Retail
$1.94M
$1.70M – $2.26M
NOI $135,611 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$2.25M
$1.96M – $2.62M
NOI $157,158 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,777
Businesses Nearby
151k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 33%
Groceries 27%
Electronics 2%
Whole Foods Market
Groceries
40,388 visits/mo
0.2 miles
McDonald's
Dining
26,866 visits/mo
0.1 miles
Shell
Shops & Services
12,863 visits/mo
0.3 miles
Family Dollar
Shops & Services
11,413 visits/mo
0.1 miles
Waffle House
Dining
10,833 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant retail building at Canal St and Broad St corner.
Where is this retail space located?
The property is located at 2700 Canal St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: ±8,580 SF multi‑tenant retail building at the corner of Canal St and Broad St.; Located at a high‑visibility corner with ±26,083 annual average daily traffic.; Two of three units are currently occupied by tenants (market deli and nail salon).
