Historic French Quarter Mixed-Use
For Sale
$2,375,000
311 EXCHANGE Place, New Orleans, LA 70130
Renovated historic property with residential and commercial space.
Property Size5,857 SF
Price / SF$405.50
Days on Market344
Property Features for 311 EXCHANGE Place
General Information
Standard status
Active
Size
5,857 SF
Property subtype
Mixed Use
Building Details
Building Size
5,857 SF
Year Built
1837
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Mason McCullough · License #LA9705
(504) 274-2701
Source:
Burkbrokerage
Added: Oct 1, 2025
Changed: Sep 8
Last Checked: Aug 14 at 6:06AM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
The "Edgar Degas House" at 311 Exchange Place presents an opportunity to own a fully renovated historic property in the heart of the French Quarter. The property features 5,857 square feet of space, incorporating a mix of residential and commercial units. This asset combines irreplaceable French Quarter architecture with extensive modern upgrades, including a new elevator and renovated interiors. The building's courtyard has been beautifully restored, and its exterior displays a commemorative plaque marking where Edgar Degas once painted. Positioned on one of the Quarter's most desirable pedestrian corridors, this property benefits from strong year-round foot traffic and limited competing inventory. The property includes two ground floor commercial spaces and four spacious 2 bedroom, 1 bath apartments. This property is an exceptional investment for long-term income and appreciation.
Key Highlights
- Historic "Edgar Degas House" in the French Quarter, fully renovated.
- Features a mix of residential (four 2‑bedroom apartments) and commercial (two ground floor spaces) units.
- Prime location on a desirable pedestrian corridor with high foot traffic.
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
$79,070
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
3.33%
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%
$1,581,400
$1.6M
Cap Rate 7%
$1,129,571
$1.1M
Cap Rate 9%
$878,556
$878.6K
Market Conditions
NOI Build-Up for 5,857 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
$140.6K $24.00/SF
− Vacancy
−$14.1K −$2.40/SF
EGI
$126.5K $21.60/SF
− OpEx
−$47.4K −$8.10/SF
NOI
$79.1K $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 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%
$1,581,400
Cap Rate 7%
$1,129,571
Cap Rate 9%
$878,556
Alternative Uses
Best Use
Mixed Use
$1.13M
$988.4K – $1.32M
NOI $79,070 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$973.8K
$852.1K – $1.14M
NOI $68,169 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,206 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,425
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated historic property with residential and commercial space.
Where is this mixed-use property located?
The property is located at 311 EXCHANGE Place New Orleans, LA.
What is the asking price?
The asking price for this property is $2,375,000.
What are key features of this property?
This property features: Historic "Edgar Degas House" in the French Quarter, fully renovated.; Features a mix of residential (four 2‑bedroom apartments) and commercial (two ground floor spaces) units.; Prime location on a desirable pedestrian corridor with high foot traffic.
