Building Details

Year built 2021

Floors in Building 2

Buildings 1

Listing Agency: Team Tatje Realtors, LLC

Listed By: Blaine H Tatje · License #995712484 Show Phone

Added: Jun 23 Changed: Oct 23 Last Checked: Oct 26 at 8:06AM

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MLS# 2563818

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.

Completed in 2021, this 3,136-square-foot restaurant occupies two stories and includes several dining and gathering areas. The interior features floor-to-ceiling windows, custom finishes, and dramatic lighting. A commercial kitchen and two full-service bars are also in place, while the upper level provides additional space for dining or events.

The property is zoned HU-MU. Public water and sewer serve the site, and natural gas is available.

Key Highlights

• 3,136‑square‑foot restaurant built in 2021
• Two stories with dining and event areas on the upper level
• Two full‑service bars and a commercial kitchen

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,106

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,062,120 $1.1M

Cap Rate 7%

$758,657 $758.7K

Cap Rate 9%

$590,067 $590.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,136 SF

Gross rent

$72.3K $23.04/SF

− Vacancy

−$1.4K −$0.46/SF

EGI

$70.8K $22.58/SF

− OpEx

−$17.7K −$5.64/SF

NOI

$53.1K $16.93/SF

Area

ZIP 70119

Vacancy

2.00%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,062,120

Cap Rate 7%

$758,657

Cap Rate 9%

$590,067

Alternative Uses

Best Use

Specialty Retail

$758.7K

$663.8K – $885.1K (±1% cap)

NOI $53,106 @ 7.0% cap · market cap 5.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$820.6K

$718.0K – $957.4K (±1% cap)

NOI $57,441 @ 7.0% cap · market cap 6.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Neyow’s XL Steakhouse Restaurant

Suggested Use

Top Pick Locksmith Home Appliance Store Electrical Service (Bike/Boat/Book/etc) Store Butcher Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,502

Businesses Nearby

186k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 38% Groceries 29% Apparel 16% Shops & Services 14%

Rouses Market Groceries

53,082 visits/mo 0.4 miles

Marshalls Apparel

28,965 visits/mo 0.5 miles

McDonald's Dining

26,866 visits/mo 0.4 miles

Burger King Dining

10,737 visits/mo 0.4 miles

Petco Shops & Services

9,735 visits/mo 0.4 miles

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 Retail in New Orleans, LA

5.5% 2019

7.2% 2020

5.7% 2021

4.3% 2022

3.6% 2023

3.9% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - A commercial kitchen, two full-service bars, and flexible dining and entertaining areas serve the property.

Where is this conventional restaurant located?

The property is located at 3336 BIENVILLE Street New Orleans, LA.

What is the asking price?

The asking price for this property is $895,000.

What are key features of this property?

This property features: 3,136‑square‑foot restaurant built in 2021; Two stories with dining and event areas on the upper level; Two full‑service bars and a commercial kitchen