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Building Details

Year Built 1836

Year Renovated 2013

Buildings 1

Stories 4

Tenancy Multi

Listing Agency: Talbot Realty Group

Listed By: Chris Talbot · License #0000075986 Show Phone

Source: Lacdb.resimplifi

Added: Sep 16 Changed: Oct 13 Last Checked: Oct 14 at 7:39PM

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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 Talbot Realty Group

Investment Insights

Based on property information with market context.

This four-story mixed-use building combines a first-floor commercial space with five residential apartments. Built in 1836 and renovated in 2013, the property includes an elevator, keyless entry, and a sprinkler system. Apartment features include hardwood floors, exposed brick, marble bathrooms, granite kitchens with stainless steel appliances, in-unit washer/dryers, and central AC and heat. One residential unit is currently leased.

The building is on Decatur Street in New Orleans’ French Quarter. Nearby destinations named in the property information include Jackson Square, the French Market, Café du Monde, Woldenberg Park, and the Mississippi Riverfront.

Key Highlights

• Four‑story building constructed in 1836 and renovated in 2013
• First‑floor commercial space plus 5 residential apartments
• One residential unit currently leased

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$123,552

Cap Rate

4.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,471,040 $2.5M

Cap Rate 7%

$1,765,029 $1.8M

Cap Rate 9%

$1,372,800 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,152 SF

Gross rent

$219.6K $24.00/SF

− Vacancy

−$22.0K −$2.40/SF

EGI

$197.7K $21.60/SF

− OpEx

−$74.1K −$8.10/SF

NOI

$123.6K $13.50/SF

Area

New Orleans, LA

Vacancy

10.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,471,040

Cap Rate 7%

$1,765,029

Cap Rate 9%

$1,372,800

Alternative Uses

Best Use

Mixed Use

$1.77M

$1.54M – $2.06M (±1% cap)

NOI $123,552 @ 7.0% cap · market cap 4.95%

Second Best

Retail

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $113,009 @ 7.0% cap · market cap 4.53%

Theoretical Best

Office A

$2.33M

$2.04M – $2.71M (±1% cap)

NOI $162,829 @ 7.0% cap · market cap 6.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Daycare Center Home Appliance Store HVAC Service Auto Parts Store Kitchen & Bath Showroom Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

5

Residential units

Multi-tenant

Tenancy

Yes

Sprinkler system

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

8,445

Businesses Nearby

Explore this area Business Placement

Demographics for 70130, LA

14,521

Population

10,927

Households

1.3

Avg Household Size

38

Median Age

64%

College-Educated

92%

High-School Grad

2.1 sq mi

ZIP Area

6,915

Density / Sq Mi

$82,758

Median Household Income

$52,492

Median Earnings

$1,410

Median Rent

$529,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Ground-floor commercial space and residential apartments share a single building in New Orleans’ French Quarter.

Where is this mixed-use property located?

The property is located at 305 Decatur St New Orleans, LA.

What is the asking price?

The asking price for this property is $2,495,000.

What are key features of this property?

This property features: Four‑story building constructed in 1836 and renovated in 2013; First‑floor commercial space plus 5 residential apartments; One residential unit currently leased