Three-Level Mixed-Use
For Sale
$679,000
323 Verret St, New Orleans, LA 70114
Renovated property combines restaurant space, a two-bedroom residence, and rooftop space with skyline views.
Property Size3,370 SF
Price / SF$201.48
Days on Market109
Property Features for 323 Verret St
General Information
Standard status
Active
Size
3,370 SF
Property subtype
Hospitality
Zoning
HU-B1A
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
eXp Realty
Listed By:
Kasi Champagne · License #995685330
(504) 715-0115
Source:
Lacdb.resimplifi
Added: Jun 30
Changed: Oct 11
Last Checked: Oct 14 at 7:45PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
Renovated in 2022, this three-level mixed-use property at 323 Verret St. combines commercial and residential components within one building. The ground floor contains an established restaurant leased under a long-term triple-net arrangement. The restaurant business itself is excluded from the sale.
The upper portion includes a two-bedroom, two-bath residence with open living areas, updated finishes, and abundant natural light. A rooftop level provides views toward the New Orleans skyline, Crescent City Connection, and the surrounding historic district. Prior city approval was obtained for construction of a rooftop bar and deck. The property is located in Algiers Point and carries HU-B1A zoning.
The upper portion includes a two-bedroom, two-bath residence with open living areas, updated finishes, and abundant natural light. A rooftop level provides views toward the New Orleans skyline, Crescent City Connection, and the surrounding historic district. Prior city approval was obtained for construction of a rooftop bar and deck. The property is located in Algiers Point and carries HU-B1A zoning.
Key Highlights
- Renovated in 2022 and configured across three levels
- Ground‑floor restaurant subject to a long‑term triple‑net lease
- Two‑bedroom, two‑bath residence with open living areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,557
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,140
$951.1K
Cap Rate 7%
$679,386
$679.4K
Cap Rate 9%
$528,411
$528.4K
Market Conditions
NOI Build-Up for 3,370 SF
Gross rent
$64.7K $19.20/SF
− Vacancy
−$1.3K −$0.38/SF
EGI
$63.4K $18.82/SF
− OpEx
−$15.9K −$4.70/SF
NOI
$47.6K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,140
Cap Rate 7%
$679,386
Cap Rate 9%
$528,411
Alternative Uses
Best Use
Specialty Retail
$679.4K
$594.5K – $792.6K
NOI $47,557 @ 7.0% cap · market cap 7.00%
Second Best
Mixed Use
$649.9K
$568.7K – $758.3K
NOI $45,495 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$856.5K
$749.5K – $999.3K
NOI $59,958 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated property combines restaurant space, a two-bedroom residence, and rooftop space with skyline views.
Where is this mixed-use property located?
The property is located at 323 Verret St New Orleans, LA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Renovated in 2022 and configured across three levels; Ground‑floor restaurant subject to a long‑term triple‑net lease; Two‑bedroom, two‑bath residence with open living areas
