Commercially Zoned Mixed-Use
For Sale
$320,000
4031 Saint Claude Ave, New Orleans, LA 70117
Upper-level residences accompany ground-floor workshop and music studio space in a flexible commercial setting.
Property Size1,799 SF
Price / SF$177.88
Days on Market279
Property Features for 4031 Saint Claude Ave
General Information
Standard status
Active
Size
1,799 SF
Zoning
Commercial
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Stories
2
Construction
raised double
Tenancy
Mixed
Listing Agency:
Keller Williams Realty New Orleans
(504) 858-0623
Listed By:
Patrick Knudsen · License #000076564
(504) 858-0623
Source:
Exprealty
Added: Nov 5, 2025
Changed: Aug 9
Last Checked: Aug 11 at 1:05PM
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.
Located at 4031 Saint Claude Ave in New Orleans, this mixed-use property combines residential and creative workspace components. The upper level contains two residential units with existing tenants, while the ground floor is configured for workshop and music studio use. Current lease arrangements are month-to-month, providing flexibility for future ownership and occupancy planning.
The property is commercially zoned under the New Orleans Comprehensive Zoning Ordinance. The stated use framework includes hotel or motel, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio applications. It is also preliminarily qualified for historic tax credits as a contributing structure within the St. Claude Corridor Cultural District. The sale is offered in as-is, where-is condition.
The property is commercially zoned under the New Orleans Comprehensive Zoning Ordinance. The stated use framework includes hotel or motel, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio applications. It is also preliminarily qualified for historic tax credits as a contributing structure within the St. Claude Corridor Cultural District. The sale is offered in as-is, where-is condition.
Key Highlights
- Commercially zoned mixed‑use property at 4031 Saint Claude Ave, New Orleans, LA
- Two upper‑level residential units with existing tenants
- Ground floor includes workshop and music studio areas
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
$26,518
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
8.29%
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%
$530,360
$530.4K
Cap Rate 7%
$378,829
$378.8K
Cap Rate 9%
$294,644
$294.6K
Market Conditions
NOI Build-Up for 1,799 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
$41.0K $22.80/SF
− Vacancy
−$5.7K −$3.15/SF
EGI
$35.4K $19.65/SF
− OpEx
−$8.8K −$4.91/SF
NOI
$26.5K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$530,360
Cap Rate 7%
$378,829
Cap Rate 9%
$294,644
Alternative Uses
Best Use
Office B
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 8.29%
Second Best
Mixed Use
$347.0K
$303.6K – $404.8K
NOI $24,287 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$457.2K
$400.1K – $533.5K
NOI $32,007 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Mixed-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
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 Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Upper-level residences accompany ground-floor workshop and music studio space in a flexible commercial setting.
Where is this mixed-use property located?
The property is located at 4031 Saint Claude Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Commercially zoned mixed‑use property at 4031 Saint Claude Ave, New Orleans, LA; Two upper‑level residential units with existing tenants; Ground floor includes workshop and music studio areas
