Raised Mixed-Use
For Sale
$320,000
4031 ST CLAUDE Avenue, New Orleans, LA 70117
COMMERCIAL - New Orleans, LA
Property Size1,799 SF
Price / SF$177.88
Days on Market277
Property Features for 4031 ST CLAUDE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Parking features
Driveway
Lot features
Oversized
Subdivision
Bywater
Standard status
Active
APN
4031-STCLAUDEAV
Size
1,799 SF
Taxes and HOA fees
Tax Description
SQ 411 LOT 8 ST CLAUDE 30 X 117 2 STY DOUBLE 2001 ASSESSED 39W208906 4031-33 ST CLAUDE AVE
Legal Description
SQ 411 LOT 8 ST CLAUDE 30 X 117 2 STY DOUBLE 2001 ASSESSED 39W208906 4031-33 ST CLAUDE AVE
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Patrick Knudsen · License #000076564
(504) 858-0623
Added: Nov 5, 2025
Changed: Aug 4
Last Checked: Aug 9 at 2:06AM
MLS# 2529436
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This raised mixed-use property contains 1,799 square feet and was built in 1900. The upper level has two residential units with tenants in place, while the ground floor includes workshop and music studio areas. Existing leases are month-to-month, and the property is offered in as-is, where-is condition.
The building is zoned HMC-2 and is located at 4031 St. Claude Avenue in New Orleans. The zoning framework identified for the property includes potential applications such as hotel or motel, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio uses. The structure is also preliminarily qualified for Historic Tax Credits as a contributing building within the St. Claude Corridor Cultural District. Public water service and a driveway are present.
The building is zoned HMC-2 and is located at 4031 St. Claude Avenue in New Orleans. The zoning framework identified for the property includes potential applications such as hotel or motel, commercial short-term rental, recording studio, adult day care facility, art gallery, and studio uses. The structure is also preliminarily qualified for Historic Tax Credits as a contributing building within the St. Claude Corridor Cultural District. Public water service and a driveway are present.
Key Highlights
- 1,799‑square‑foot raised mixed‑use building constructed in 1900
- Two upper residential units with month‑to‑month tenant agreements
- Ground‑floor workshop and music studio spaces
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
Current Use
Lease Details
2
Residential units
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 - Two-level commercial building with residential occupancy above workshop and music studio areas.
Where is this mixed-use property located?
The property is located at 4031 ST CLAUDE Avenue 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: 1,799‑square‑foot raised mixed‑use building constructed in 1900; Two upper residential units with month‑to‑month tenant agreements; Ground‑floor workshop and music studio spaces
