Mixed-Use Property with
324 Chartres Street New Orleans, LA 70130
For Sale
$1,600,000
Mixed-use building with ground-floor retail and two fully furnished apartments above, with recent roof and HVAC updates.
Property Size5,250 SF
Price / SF$304.76
Days on Market53
Property Features for 324 Chartres Street
General Information
- Standard status
- Active
- Size
- 5,250 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency:
Berkshire Hathaway Homeservices Preferred, Realtor
(504) 906-1146
Listed By:
Robert Van Meter · License #995681876
(504) 906-1146
Source:
Nolalivingrealty
Added: Jun 2
Changed: Jul 22
Last Checked: Jul 23 at 7:05AM
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 Berkshire Hathaway Homeservices Preferred, Realtor
Investment Insights
Based on property information with market context.
324 Chartres Street is a mixed-use property featuring a ground-floor retail space and two residential apartments on the second and third floors. The first floor is occupied by a luxury shoe boutique, and the residential units are furnished and offer 2 bedrooms and 2 bathrooms each.
Recent improvements include a brand-new roof in 2025 and the installation of two new air-conditioning units. The second-floor apartment was renovated in 2023 after being converted from commercial use in 2024, and the third-floor apartment was renovated after a 2012 purchase.
The property is described as fully occupied, with utilities included in all leases.
Recent improvements include a brand-new roof in 2025 and the installation of two new air-conditioning units. The second-floor apartment was renovated in 2023 after being converted from commercial use in 2024, and the third-floor apartment was renovated after a 2012 purchase.
The property is described as fully occupied, with utilities included in all leases.
Key Highlights
- Mixed‑use building at 324 Chartres St with ground‑floor retail plus two residential apartments (2nd and 3rd floors).
- Total monthly rent $10,350 and annual gross income $124,200, with 100% occupancy and utilities included in all leases.
- First‑floor retail: tenant shoe boutique paying $5,500/month; approx. size ±1,750 SF; utilities included.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.0k | $24.00 |
| − Vacancy | −$12.6k | −$2.40 |
| EGI | $113.4k | $21.60 |
| − OpEx | −$42.5k | −$8.10 |
| NOI | $70.9k | $13.50 |
5,250 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.01M
$885.9K – $1.18M
NOI $70,875 @ 7.0% cap · market cap 4.43%
Second Best
Retail
$926.1K
$810.3K – $1.08M
NOI $64,827 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,406 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shoe Be Do
Clothing & Fashion Store
Where Magazine
Publishing House
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with ground-floor retail and two fully furnished apartments above, with recent roof and HVAC updates.
Where is this mixed-use property located?
The property is located at 324 Chartres Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Mixed‑use building at 324 Chartres St with ground‑floor retail plus two residential apartments (2nd and 3rd floors).; Total monthly rent $10,350 and annual gross income $124,200, with 100% occupancy and utilities included in all leases.; First‑floor retail: tenant shoe boutique paying $5,500/month; approx. size ±1,750 SF; utilities included.
