Mixed-Use Building with
For Sale
$649,000
323 VERRET Street, New Orleans, LA 70114
Commercial Sale, New Orleans, LA
Property Size3,370 SF
Lot Size0.06 Acres
Price / SF$192.58
Days on Market132
Property Features for 323 VERRET Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-B1A
Lot features
Irregular Lot
Standard status
Active
APN
513101811
Size
3,370 SF
Lot size
0.06 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
SQ 17 REAR MOST PART OF LOT 8 AND LOT C OR NOW LOT X 45/12/27 X 70/59/32 323 VERRET ST
Legal Description
SQ 17 REAR MOST PART OF LOT 8 AND LOT C OR NOW LOT X 45/12/27 X 70/59/32 323 VERRET ST
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
Private rooftop
ADA features
Building Details
Year built
1910
Floors in Building
2
Buildings
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Sally Crawford · License #995711188
(504) 235-6113
Added: Jun 17
Changed: Oct 23
Last Checked: Oct 26 at 8:06AM
MLS# 2563215
Copyright © 2026 ROAM MLS. 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 mixed-use property contains 3,370 square feet on a 0.0642-acre parcel and was renovated in 2022. The ground-floor restaurant is leased under a long-term NNN agreement; the restaurant business is not part of the sale. Above it, a renovated 1,315-square-foot residence has two bedrooms and two bathrooms. The property also includes a private rooftop with views of the river and skyline, along with ADA features.
Located in Algiers Point, the building is across the river from the French Quarter and the Canal Street ferry. It is zoned HU-B1A and has access to natural gas, public water, and public sewer.
Located in Algiers Point, the building is across the river from the French Quarter and the Canal Street ferry. It is zoned HU-B1A and has access to natural gas, public water, and public sewer.
Key Highlights
- Ground‑floor restaurant leased under a long‑term NNN agreement; restaurant business excluded from sale
- Renovated 1,315‑square‑foot residence with 2 bedrooms and 2 bathrooms
- 3,370‑square‑foot building on a 0.0642‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,557
Cap Rate
7.33%
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 7.33%
Second Best
Mixed Use
$649.9K
$568.7K – $758.3K
NOI $45,495 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$856.5K
$749.5K – $999.3K
NOI $59,958 @ 7.0% cap · market cap 9.24%
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
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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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Market
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - A leased restaurant occupies the ground floor, with a renovated two-bedroom residence above.
Where is this mixed-use property located?
The property is located at 323 VERRET Street New Orleans, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Ground‑floor restaurant leased under a long‑term NNN agreement; restaurant business excluded from sale; Renovated 1,315‑square‑foot residence with 2 bedrooms and 2 bathrooms; 3,370‑square‑foot building on a 0.0642‑acre parcel
