Historic French Quarter Mixed-Use
For Sale
$2,250,000
311 EXCHANGE Place, New Orleans, LA 70130
Renovated historic property with residential and commercial space.
Property Size5,857 SF
Price / SF$384.16
Days on Market391
Property Features for 311 EXCHANGE Place
General Information
Standard status
Active
Size
5,857 SF
Property subtype
Mixed Use
Site & Location
Neighborhood
Central Business District
Building Details
Building Size
5,857 SF
Year Built
1837
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Mason McCullough · License #LA9705
(504) 298-8631
Source:
Burkbrokerage
Added: Oct 1, 2025
Changed: Oct 25
Last Checked: Oct 24 at 9:56PM
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
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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 / Yr
$79,070
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
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
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 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 3.51%
Second Best
Apartment 5plus
$973.8K
$852.1K – $1.14M
NOI $68,169 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,206 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
10,425
Businesses Nearby
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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
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 $2,250,000.
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.
