Three-Story Mixed-Use
For Sale
$1,700,000
3301 CANAL Street, New Orleans, LA 70119
Fully occupied building combines ground-floor commercial space with upper-level residential units and on-site parking.
Property Size4,250 SF
Price / SF$189.31
Days on Market54
Property Features for 3301 CANAL Street
General Information
Standard status
Active
Size
4,250 SF
Occupancy
100%
Additional Details
Gross Income
$144,780
Road Access
Yes
Multifamily Units
7
Building Details
Building Size
4,250 SF
Year Built
1990
Buildings
1
Stories
3
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Mason McCullough · License #LA9705
(504) 298-8631
Source:
Talbot-realty
Added: Aug 24
Changed: Oct 15
Last Checked: Oct 14 at 7:34PM
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, LLC
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Investment Insights
Based on property information with market context.
Built in 1990, this three-story mixed-use property contains approximately 8,980 square feet and nine total units. The configuration includes two commercial units at street level and seven residential units above, creating a combined commercial and residential occupancy profile. The building is reported as 100% occupied.
The property occupies a corner position at 3301 Canal Street in New Orleans’ Mid City neighborhood, one block from the Canal and Norman C. Francis intersection. Parking includes 12 spaces behind the building along with additional spaces in front. The asset’s unit mix and established occupancy support both commercial and residential use within one building.
The property occupies a corner position at 3301 Canal Street in New Orleans’ Mid City neighborhood, one block from the Canal and Norman C. Francis intersection. Parking includes 12 spaces behind the building along with additional spaces in front. The asset’s unit mix and established occupancy support both commercial and residential use within one building.
Key Highlights
- Approximately 8,980 SF across a 3‑story building
- Nine total units: two ground‑floor commercial and seven upper‑floor residential
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,536
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
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
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 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 6.97%
Second Best
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,517 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,485 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied building combines ground-floor commercial space with upper-level residential units and on-site parking.
Where is this mixed-use property located?
The property is located at 3301 CANAL Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 8,980 SF across a 3‑story building; Nine total units: two ground‑floor commercial and seven upper‑floor residential; 100% occupied
