Renovated Mixed-Use
For Sale
$2,550,000
315 Decatur St, New Orleans, LA 70130
Five residential units complement a street-front commercial space with balconies, pool, courtyard, and in-unit amenities.
Property Size8,800 SF
Price / SF$289.77
Days on Market30
Property Features for 315 Decatur St
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Multi-Family
Zoning
VCE-1
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA, 2 x 1BR/1BA, 1 x 3BR/2.5BA
Multifamily Units
5
Additional Details
Gross Income
$235,200
Amenities
pool
courtyard
balconies
in-unit laundry
central HVAC
stainless steel appliances
hardwood floors
large closets
Building Details
Year Built
1880
Year Renovated
2016
Buildings
1
Tenancy
Multi
Listing Agency:
FQR Realtors
(504) 529-9559
Listed By:
Andrew Grafe · License #995682122
Source:
Dominionplace
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 29 at 12:00PM
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 FQR Realtors
Investment Insights
Based on property information with market context.
This 8,800-square-foot mixed-use building contains five residential units and a 700-square-foot commercial space with a half-bath. The residential mix includes two 2-bedroom, 2-bath units, two 1-bedroom, 1-bath units, and one 3-bedroom, 2.5-bath unit. The larger residence spans multiple levels and includes an in-ground pool and courtyard. Three street-facing residences feature balconies, while all units offer independent bedrooms, in-unit laundry, central HVAC, stainless steel appliances, hardwood flooring, and large closets.
Built in 1870 and fully renovated in 2016, the property is located at 315 Decatur St in New Orleans' French Quarter. The commercial unit is currently occupied by a tour booking company, providing a combination of residential and commercial occupancy within the same building.
Built in 1870 and fully renovated in 2016, the property is located at 315 Decatur St in New Orleans' French Quarter. The commercial unit is currently occupied by a tour booking company, providing a combination of residential and commercial occupancy within the same building.
Key Highlights
- 8,800‑square‑foot mixed‑use building with 5 residential units and 1 commercial unit
- Residential mix includes two 2bed/2bath, two 1bed/1bath, and one 3bed/2.5bath units
- 700sqft commercial unit with half‑bath, currently occupied by a tour booking company
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
$118,800
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
4.66%
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%
$2,376,000
$2.4M
Cap Rate 7%
$1,697,143
$1.7M
Cap Rate 9%
$1,320,000
$1.3M
Market Conditions
NOI Build-Up for 8,800 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
$211.2K $24.00/SF
− Vacancy
−$21.1K −$2.40/SF
EGI
$190.1K $21.60/SF
− OpEx
−$71.3K −$8.10/SF
NOI
$118.8K $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%
$2,376,000
Cap Rate 7%
$1,697,143
Cap Rate 9%
$1,320,000
Alternative Uses
Best Use
Mixed Use
$1.70M
$1.49M – $1.98M
NOI $118,800 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,662 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,567 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five residential units complement a street-front commercial space with balconies, pool, courtyard, and in-unit amenities.
Where is this mixed-use property located?
The property is located at 315 Decatur St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 8,800‑square‑foot mixed‑use building with 5 residential units and 1 commercial unit; Residential mix includes two 2bed/2bath, two 1bed/1bath, and one 3bed/2.5bath units; 700sqft commercial unit with half‑bath, currently occupied by a tour booking company
