Renovated Mixed-Use
New
For Sale
$750,000
422 NOTRE DAME Street, New Orleans, LA 70130
Commercial, New Orleans, LA
Property Size1,919 SF
Price / SF$390.83
Days on Market2
Property Features for 422 NOTRE DAME Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD 6
Parking features
Off Street
Lot features
Condo
Standard status
Active
APN
103102342
Size
1,919 SF
Taxes and HOA fees
Tax Description
SQ 124 LOT P UNIT-3
Legal Description
SQ 124 LOT P UNIT-3
Utilities
Water source
Public
Amenities
fireplace
balcony
gated parking
chef's kitchen
high-end appliances
oversized island
soaking tub
rain shower
Building Details
Year built
1904
Floors in Building
1
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Dominique Dennoun · License #995706278
(504) 701-9462
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 11:06PM
MLS# 2577217
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 1,919-square-foot mixed-use condo combines a 1904 building shell with extensive interior updates. The residence has 11-foot ceilings, exposed structural beams, hardwood flooring, original brickwork, a fireplace, and strong natural light. An open central living area connects to a chef’s kitchen equipped with high-end appliances and an oversized island. The primary suite includes a balcony, gated parking access, and an ensuite bathroom with a soaking tub and rain shower.
The building received a new roof and exterior paint in 2023. CBD-6 zoning provides flexibility for residential and commercial use. The property is located at 422 NOTRE DAME Street in New Orleans’ Warehouse District, near restaurants, the Convention Center, Ogden Museum, and the National WWII Museum. Public water service and off-street parking are also included.
The building received a new roof and exterior paint in 2023. CBD-6 zoning provides flexibility for residential and commercial use. The property is located at 422 NOTRE DAME Street in New Orleans’ Warehouse District, near restaurants, the Convention Center, Ogden Museum, and the National WWII Museum. Public water service and off-street parking are also included.
Key Highlights
- 1,919‑square‑foot condo in a 1904 building
- CBD‑6 zoning allows residential and commercial use
- 11‑foot ceilings with exposed beams, hardwood floors, original brick, and fireplace
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
$25,907
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
3.45%
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%
$518,140
$518.1K
Cap Rate 7%
$370,100
$370.1K
Cap Rate 9%
$287,856
$287.9K
Market Conditions
NOI Build-Up for 1,919 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
$46.1K $24.00/SF
− Vacancy
−$4.6K −$2.40/SF
EGI
$41.5K $21.60/SF
− OpEx
−$15.5K −$8.10/SF
NOI
$25.9K $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%
$518,140
Cap Rate 7%
$370,100
Cap Rate 9%
$287,856
Alternative Uses
Best Use
Mixed Use
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$319.1K
$279.2K – $372.3K
NOI $22,335 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$487.7K
$426.8K – $569.0K
NOI $34,142 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,411
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CBD-6 zoning allows residential and commercial flexibility in a renovated condo with off-street parking.
Where is this mixed-use property located?
The property is located at 422 NOTRE DAME Street New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,919‑square‑foot condo in a 1904 building; CBD‑6 zoning allows residential and commercial use; 11‑foot ceilings with exposed beams, hardwood floors, original brick, and fireplace
