Multi-Tenant Retail Building For
For Sale
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2700 Canal Street, 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 Market85
Property Features for 2700 Canal Street
General Information
Standard status
Active
Size
8,580 SF
Total Parking Spaces
14
Property subtype
Retail, Office
Zoning
HU-MU - Historic Urban Neighborhood Mixed-Use District
Building Details
Buildings
1
Stories
2
Units
3
Listing Agency:
Elifin Realty - New Orleans, LA
Listed By:
Frank Lopiccolo · License #995717703
Source:
Crexi
Added: May 20
Changed: Aug 7
Last Checked: Aug 11 at 2:47PM
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 Elifin Realty - New Orleans, LA
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 = 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
$145,297
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
7.67%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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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 Street 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).
