French Quarter Mixed-Use Redevelopment
For Sale
Contact for pricing
401 Decatur St, New Orleans, LA
Prime corner property in the heart of the French Quarter.
Property Size10,400 SF
Lot Size0.06 Acres
Price / SF$298.08
Days on Market730
Property Features for 401 Decatur St
General Information
Standard status
Active
Size
10,400 SF
Lot size
0.06 Acres
Property subtype
RETAIL
Listing Agency:
Jon Huffman Real Estate
(504) 405-8491
Listed By:
Yosef Greenwald · License #995699035
(504) 405-8491
Source:
Moodyscre
Added: Aug 9, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:15AM
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 Jon Huffman Real Estate
Investment Insights
Based on property information with market context.
This prominent corner property, located in the heart of the French Quarter, presents a mixed-use redevelopment opportunity. The property consists of three interconnecting buildings at 401 Decatur Street and 505 Conti Street. The elevator-serviced building offers potential for retail space and upper floor apartments. The second floor space could be utilized for retail purposes. Situated on the 400 block of Decatur Street, the location benefits from a retail stretch with numerous national retailers. The property offers high visibility and experiences high tourist and local foot traffic. The total property size is 10400 square feet.
Key Highlights
- Prime corner property in the heart of the French Quarter.
- Mixed‑use redevelopment opportunity with retail and apartments.
- Elevator‑serviced building.
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
$140,400
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
4.53%
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%
$2,808,000
$2.8M
Cap Rate 7%
$2,005,714
$2.0M
Cap Rate 9%
$1,560,000
$1.6M
Market Conditions
NOI Build-Up for 10,400 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
$249.6K $24.00/SF
− Vacancy
−$25.0K −$2.40/SF
EGI
$224.6K $21.60/SF
− OpEx
−$84.2K −$8.10/SF
NOI
$140.4K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
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%
$2,808,000
Cap Rate 7%
$2,005,714
Cap Rate 9%
$1,560,000
Alternative Uses
Best Use
Mixed Use
$2.01M
$1.76M – $2.34M
NOI $140,400 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$1.83M
$1.61M – $2.14M
NOI $128,419 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $185,033 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,445
Businesses Nearby
Explore this area
Business Placement
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?
Retail space - Prime corner property in the heart of the French Quarter.
Where is this retail space located?
The property is located at 401 Decatur St New Orleans, LA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Prime corner property in the heart of the French Quarter.; Mixed‑use redevelopment opportunity with retail and apartments.; Elevator‑serviced building.
