Cafe Building with
For Sale
$695,000
4223 ST CLAUDE Avenue, New Orleans, LA 70117
COMMERCIAL - New Orleans, LA
Property Size2,828 SF
Price / SF$245.76
Days on Market318
Property Features for 4223 ST CLAUDE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMC-2
Lot features
Regular
Subdivision
Bywater
Standard status
Active
APN
SQ 413 LOT 1 OR 7
Size
2,828 SF
Taxes and HOA fees
Tax Description
SQ 413 LOT 1 OR 7 ST CLAUDE 27X120 GEN BUS.1380 SF FT 4. RES 1380 SQ FT 5. 2/STORY FR STORE
Legal Description
SQ 413 LOT 1 OR 7 ST CLAUDE 27X120 GEN BUS.1380 SF FT 4. RES 1380 SQ FT 5. 2/STORY FR STORE
Utilities
Water source
Public
Building Details
Year built
1926
Floors in Building
2
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Added: Oct 13, 2025
Changed: Aug 4
Last Checked: Aug 26 at 5:06PM
MLS# 2526354
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 historic building was built in 1924 and was fully renovated into a cafe in 2016. The first floor includes a glass storefront, large windows, 11-foot ceilings, a seating area, and built-in counter service with additional seating. There are two half baths, including one ADA accessible half bath, along with a large pantry/storage area. The commercial kitchen is equipped with natural gas appliances, including a 60-inch range with six burners, a 24-inch griddle, and two ovens.
Upstairs features original wood floors, two covered porches, and a layout with an open kitchen and an original chimney separating the kitchen and dining area. The apartment includes three independent bedrooms and one large bathroom with 9-foot ceilings. The property has two central systems and includes an exterior storage area of 78 square feet with outdoor plumbing.
The property is in Flood Zone X and has a termite contract. It qualifies for state and federal historic tax credits and is located in the HMC-2 Historic Marigny/Treme/Bywater Commercial District, which supports lots of permitted uses.
Upstairs features original wood floors, two covered porches, and a layout with an open kitchen and an original chimney separating the kitchen and dining area. The apartment includes three independent bedrooms and one large bathroom with 9-foot ceilings. The property has two central systems and includes an exterior storage area of 78 square feet with outdoor plumbing.
The property is in Flood Zone X and has a termite contract. It qualifies for state and federal historic tax credits and is located in the HMC-2 Historic Marigny/Treme/Bywater Commercial District, which supports lots of permitted uses.
Key Highlights
- Historic building originally built in 1926; renovated in 2016 into a cafe with a 3‑bedroom apartment upstairs
- Owner‑operator layout: cafe space on the first floor with 11 ft ceilings, store front glass, large windows, seating area, and built‑in counter service
- First‑floor amenities include a large pantry/storage, outdoor plumbing, and natural gas cooking equipment: 60" range (6 burners), 24" griddle, and 2 ovens
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
$39,909
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
5.74%
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%
$798,180
$798.2K
Cap Rate 7%
$570,129
$570.1K
Cap Rate 9%
$443,433
$443.4K
Market Conditions
NOI Build-Up for 2,828 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
$54.3K $19.20/SF
− Vacancy
−$1.1K −$0.38/SF
EGI
$53.2K $18.82/SF
− OpEx
−$13.3K −$4.70/SF
NOI
$39.9K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /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%
$798,180
Cap Rate 7%
$570,129
Cap Rate 9%
$443,433
Alternative Uses
Best Use
Specialty Retail
$570.1K
$498.9K – $665.2K
NOI $39,909 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$718.8K
$628.9K – $838.6K
NOI $50,315 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
11 ft
Clear height
1
Residential units
Location Intelligence
Trade Area within ½ mile
819
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.
Similar Off Market Nearby
- Petite Clouet Café — 3100 Royal St, New Orleans, LA 70117
- Try-Me Coffee Mills — 1014 France St, New Orleans, LA 70117
- porch time — 905 poland ave, new orleans, la 70117
- 3rd Generation Libations — 5119 St Claude Ave, New Orleans, LA 70117
- Lowpoint — 1301 Poland Ave, New Orleans, LA 70117
Frequently Asked Questions
What type of property is this?
Coffee shop - Historic cafe space with glass storefront, ADA half bath, and a 3-bedroom apartment upstairs in Flood Zone X.
Where is this coffee shop located?
The property is located at 4223 ST CLAUDE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Historic building originally built in 1926; renovated in 2016 into a cafe with a 3‑bedroom apartment upstairs; Owner‑operator layout: cafe space on the first floor with 11 ft ceilings, store front glass, large windows, seating area, and built‑in counter service; First‑floor amenities include a large pantry/storage, outdoor plumbing, and natural gas cooking equipment: 60" range (6 burners), 24" griddle, and 2 ovens
