Mixed-Use Property with Two
For Sale
$369,000
3205 LAFITTE Street, New Orleans, LA 70119
Commercial, New Orleans, LA
Property Size1,523 SF
Price / SF$242.28
Days on Market55
Property Features for 3205 LAFITTE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-MU
Lot features
1-5 Acres, Regular
Subdivision
Bayou St John
Standard status
Active
APN
3205-LAFITTEST
Size
1,523 SF
Taxes and HOA fees
Tax Description
SQ 427 LOT 17 LAFITTE
Legal Description
SQ 427 LOT 17 LAFITTE
Utilities
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Jamie Harris
(914) 714-9261
Added: Aug 24
Changed: Oct 17
Last Checked: Oct 17 at 5:06PM
MLS# 2573994
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,523-square-foot mixed-use property in New Orleans was built in 1920. Interior features include built-in shelving, two kitchens, and an upstairs flex area. The layout can serve as a single-family residence or commercial space, or be converted back to a duplex. HU-MU zoning is designated for the property.
The property sits across from the Lafitte Greenway, Bayou St. John, and NC Francis bike paths. The former Greenway Station across the street hosts a weekly farmers market and seasonal events. The backyard contains native Louisiana plants.
The property sits across from the Lafitte Greenway, Bayou St. John, and NC Francis bike paths. The former Greenway Station across the street hosts a weekly farmers market and seasonal events. The backyard contains native Louisiana plants.
Key Highlights
- 1,523 square feet; built in 1920
- Two kitchens, built‑in shelving, and an upstairs flex area
- Can be used as a single‑family residence, commercial space, or converted to a duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,104
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,080
$402.1K
Cap Rate 7%
$287,200
$287.2K
Cap Rate 9%
$223,378
$223.4K
Market Conditions
NOI Build-Up for 1,523 SF
Gross rent
$36.6K $24.00/SF
− Vacancy
−$4.4K −$2.88/SF
EGI
$32.2K $21.12/SF
− OpEx
−$12.1K −$7.92/SF
NOI
$20.1K $13.20/SF
Area
ZIP 70119
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,080
Cap Rate 7%
$287,200
Cap Rate 9%
$223,378
Alternative Uses
Best Use
Mixed Use
$287.2K
$251.3K – $335.1K
NOI $20,104 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$398.5K
$348.7K – $464.9K
NOI $27,896 @ 7.0% cap · market cap 7.56%
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
2,288
Businesses Nearby
Explore this area
Business Placement
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property offers residential, commercial, and duplex use options in New Orleans.
Where is this mixed-use property located?
The property is located at 3205 LAFITTE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 1,523 square feet; built in 1920; Two kitchens, built‑in shelving, and an upstairs flex area; Can be used as a single‑family residence, commercial space, or converted to a duplex
