Three-Story Mixed-Use
For Sale
Contact for pricing
3301-05 Canal Street, New Orleans, LA 70119
Fully occupied property with commercial and residential unit mix.
Property Size8,980 SF
Price / SF$222.72
Days on Market10
Property Features for 3301-05 Canal Street
General Information
Standard status
Active
Size
8,980 SF
Class
A
Total Parking Spaces
12
Property subtype
Mixed Use
Zoning
Mixed Use
Occupancy
100%
Investment Type
Stabilized
Building Details
Buildings
1
Stories
3
Units
9
Tenancy
Multi
Listing Agency:
Bridgewater Realty Advisors
Listed By:
Mason Mccullough · License #LA9705
(504) 274-2701
Source:
Crexi
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 9:53PM
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 Bridgewater Realty Advisors
Investment Insights
Based on property information with market context.
This three-story mixed-use building contains approximately 8,980 square feet and nine total units: two commercial suites and seven residential units. Mixed Use zoning supports the property’s combined commercial and residential configuration. The asset is reported as 100% occupied and includes a dedicated tenant parking lot.
The property occupies a corner site on Canal Street in New Orleans, with frontage along the street and a highly visible position. Its setting provides access to nearby employment centers, medical institutions, restaurants, retail, and surrounding neighborhoods. The combination of nine units, two income-producing components, full occupancy, and on-site parking creates a diversified mixed-use profile.
The property occupies a corner site on Canal Street in New Orleans, with frontage along the street and a highly visible position. Its setting provides access to nearby employment centers, medical institutions, restaurants, retail, and surrounding neighborhoods. The combination of nine units, two income-producing components, full occupancy, and on-site parking creates a diversified mixed-use profile.
Key Highlights
- Approximately 8,980‑square‑foot, three‑story mixed‑use building
- Nine total units: two commercial suites and seven residential units
- Reported 100% occupancy
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
$118,536
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
5.93%
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%
$2,370,720
$2.4M
Cap Rate 7%
$1,693,371
$1.7M
Cap Rate 9%
$1,317,067
$1.3M
Market Conditions
NOI Build-Up for 8,980 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
$215.5K $24.00/SF
− Vacancy
−$25.9K −$2.88/SF
EGI
$189.7K $21.12/SF
− OpEx
−$71.1K −$7.92/SF
NOI
$118.5K $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 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%
$2,370,720
Cap Rate 7%
$1,693,371
Cap Rate 9%
$1,317,067
Alternative Uses
Best Use
Mixed Use
$1.69M
$1.48M – $1.98M
NOI $118,536 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,517 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,485 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,502
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property with commercial and residential unit mix.
Where is this mixed-use property located?
The property is located at 3301-05 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Approximately 8,980‑square‑foot, three‑story mixed‑use building; Nine total units: two commercial suites and seven residential units; Reported 100% occupancy
