Triangular Restaurant Building
3101 Esplanade Avenue, New Orleans, LA 70119
For Sale
Contact for pricing
Pending
Shell-condition restaurant building on a triangular lot with HU-B1 zoning permitting full-service restaurant use by right.
Property Size1,961 SF
Days on Market160
Property Features for 3101 Esplanade Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Listing Agency:
Newmark New Orleans
Listed By:
Timothy Thompson · License LA #0995698769
(504) 913-0462
Source:
Crexi
Added: Jun 8
Changed: Nov 6
Last Checked: Nov 12 at 8:17AM
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 Newmark New Orleans
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property includes approximately 1,961 square feet of shell-condition building space positioned on a triangular 12,509 square foot lot. It is offered for sale as a restaurant-ready development site, with the improvements currently in shell condition, allowing an operator or buyer to tailor buildout to their specific concept.
The location is on historic Esplanade Avenue in the heart of the Esplanade Ridge. The property is zoned HU-B1 (Historic Urban Neighborhood Business District), a designation that explicitly permits full-service restaurant and food & beverage uses by right.
For a chef-driven neighborhood operator, this zoning framework supports a range of full-service food and beverage concepts without requiring use-specific approvals. The combination of shell-condition interior space and by-right restaurant permissions makes the site suitable for a new cafe, bistro, oyster bar, or neighborhood restaurant buildout, depending on the buyer’s plan for layout and final improvements.
The location is on historic Esplanade Avenue in the heart of the Esplanade Ridge. The property is zoned HU-B1 (Historic Urban Neighborhood Business District), a designation that explicitly permits full-service restaurant and food & beverage uses by right.
For a chef-driven neighborhood operator, this zoning framework supports a range of full-service food and beverage concepts without requiring use-specific approvals. The combination of shell-condition interior space and by-right restaurant permissions makes the site suitable for a new cafe, bistro, oyster bar, or neighborhood restaurant buildout, depending on the buyer’s plan for layout and final improvements.
Key Highlights
- 1,961 SF shell‑condition building space
- Triangular 12,509 SF lot
- HU‑B1 zoning permits full‑service restaurant and food & beverage uses by‑right
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,208
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,160
$664.2K
Cap Rate 7%
$474,400
$474.4K
Cap Rate 9%
$368,978
$369.0K
Market Conditions
NOI Build-Up for 1,961 SF
Gross rent
$45.2K $23.04/SF
− Vacancy
−$904 −$0.46/SF
EGI
$44.3K $22.58/SF
− OpEx
−$11.1K −$5.64/SF
NOI
$33.2K $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%
$664,160
Cap Rate 7%
$474,400
Cap Rate 9%
$368,978
Alternative Uses
Best Use
Specialty Retail
$474.4K
$415.1K – $553.5K
NOI $33,208 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$513.1K
$449.0K – $598.7K
NOI $35,919 @ 7.0% cap · market cap 3.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Chase Bank
Shops & Services
10,651 visits/mo
0.4 miles
Shell
Shops & Services
10,096 visits/mo
0.4 miles
Valero Energy
Shops & Services
7,260 visits/mo
0.4 miles
CC's Coffee House
Dining
5,278 visits/mo
0.2 miles
SUBWAY
Dining
3,188 visits/mo
0.5 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
$359,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Conventional restaurants in New Orleans, LA
Properties on Market for Conventional restaurants in New Orleans
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Shell-condition restaurant building on a triangular lot with HU-B1 zoning permitting full-service restaurant use by right.
Where is this conventional restaurant located?
The property is located at 3101 Esplanade Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $1,160,000.
What are key features of this property?
This property features: 1,961 SF shell‑condition building space; Triangular 12,509 SF lot; HU‑B1 zoning permits full‑service restaurant and food & beverage uses by‑right
