Storefront Property with Original
For Sale
$299,000
4011 Saint Claude Ave, New Orleans, LA 70117
HMC-2-zoned commercial space along Saint Claude Avenue, surrounded by neighborhood businesses, restaurants, galleries, and entertainment venues.
Property Size1,858 SF
Price / SF$160.93
Days on Market50
Property Features for 4011 Saint Claude Ave
General Information
Standard status
Active
Size
1,858 SF
Zoning
HMC-2
Amenities
original mural of Mardi Gras Indian Queen Tahj
Listing Agency:
Keller Williams Realty New Orleans
(504) 982-5921
Listed By:
James Howell · License #000033645
(504) 982-5921
Source:
Exprealty
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 30 at 9:33PM
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
This commercial storefront is located at 4011 Saint Claude Ave in New Orleans and includes an original mural depicting Mardi Gras Indian Queen Tahj. The property has historically been configured for separate leasing of its spaces, offering flexibility for an owner-user or commercial operator. Potential concepts identified for the space include retail, office, studio, gallery, boutique services, restaurant, and tattoo uses.
The property sits within the Historic Marigny/Tremé/Bywater Commercial District, designated HMC-2. This district accommodates more intensive commercial activity along major transportation corridors while retaining the area's historic character. Saint Claude Avenue is characterized by a mix of neighborhood businesses, restaurants, galleries, entertainment venues, and creative enterprises, providing a commercial setting with a strong local identity.
The property sits within the Historic Marigny/Tremé/Bywater Commercial District, designated HMC-2. This district accommodates more intensive commercial activity along major transportation corridors while retaining the area's historic character. Saint Claude Avenue is characterized by a mix of neighborhood businesses, restaurants, galleries, entertainment venues, and creative enterprises, providing a commercial setting with a strong local identity.
Key Highlights
- HMC‑2 zoning within the Historic Marigny/Tremé/Bywater Commercial District
- Located at 4011 Saint Claude Ave in New Orleans
- Original mural featuring Mardi Gras Indian Queen Tahj
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
$22,943
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
7.67%
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%
$458,860
$458.9K
Cap Rate 7%
$327,757
$327.8K
Cap Rate 9%
$254,922
$254.9K
Market Conditions
NOI Build-Up for 1,858 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
$33.4K $18.00/SF
− Vacancy
−$669 −$0.36/SF
EGI
$32.8K $17.64/SF
− OpEx
−$9.8K −$5.29/SF
NOI
$22.9K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$458,860
Cap Rate 7%
$327,757
Cap Rate 9%
$254,922
Alternative Uses
Best Use
Retail
$327.8K
$286.8K – $382.4K
NOI $22,943 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$472.2K
$413.2K – $551.0K
NOI $33,057 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
Dollar General
Shops & Services
11,739 visits/mo
0.2 miles
Church's Chicken
Dining
5,337 visits/mo
0.2 miles
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - HMC-2-zoned commercial space along Saint Claude Avenue, surrounded by neighborhood businesses, restaurants, galleries, and entertainment venues.
Where is this storefront property located?
The property is located at 4011 Saint Claude Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: HMC‑2 zoning within the Historic Marigny/Tremé/Bywater Commercial District; Located at 4011 Saint Claude Ave in New Orleans; Original mural featuring Mardi Gras Indian Queen Tahj
