French Quarter Mixed-Use Redevelopment
401 Decatur St, New Orleans, LA
For Sale
Contact for pricing
Prime corner property in the heart of the French Quarter.
Property Size10,400 SF
Lot Size0.06 Acres
Price / SF$298.08
Days on Market822
Property Features for 401 Decatur St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Listing Agency:
Jon Huffman Real Estate
(504) 616-6516
Listed By:
Yosef Greenwald · License #995699035
(504) 405-8491
Source:
Moodyscre
Added: Aug 9, 2024
Changed: Aug 8
Last Checked: Aug 25 at 4:35AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$140,400
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
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
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 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 $185,033 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,445
Businesses Nearby
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in New Orleans, LA
Properties on Market for Retail space in New Orleans
Vacancy Rate% for Multifamily in South region
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.
