Work-Live Mixed-Use
For Sale
$425,000
4705 Iberville St, New Orleans, LA 70119
Vacant storefront space is paired with an occupied two-bedroom residence in a flexible commercial and residential configuration.
Property Size2,309 SF
Price / SF$184.06
Days on Market51
Property Features for 4705 Iberville St
General Information
Standard status
Active
Size
2,309 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Building Details
Year Built
1908
Buildings
1
Tenancy
Multi
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
Source:
Dominionplace
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 12:25PM
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 Crane Realtors
Investment Insights
Based on property information with market context.
This 2,359-square-foot mixed-use building combines a vacant commercial area with an occupied residential unit. The commercial portion includes an open interior, bathroom, rear storage, tall ceilings, wood flooring, and large storefront windows suited to office, retail, or other approved commercial activity. The residential side contains two bedrooms, one bathroom, and 1,030 living square feet in a shotgun-style layout, with the kitchen and living area positioned toward the front and bedrooms at the rear.
The property sits one block from Canal Street, with access to I-10 and the Canal and Carrollton streetcar corridors. Nearby dining and shopping add to the surrounding convenience. A conditional-use approval identifies the residential property for a Neighborhood Commercial Establishment. The separate commercial and residential areas support continued combined use or separate occupancy arrangements.
The property sits one block from Canal Street, with access to I-10 and the Canal and Carrollton streetcar corridors. Nearby dining and shopping add to the surrounding convenience. A conditional-use approval identifies the residential property for a Neighborhood Commercial Establishment. The separate commercial and residential areas support continued combined use or separate occupancy arrangements.
Key Highlights
- 2,359‑square‑foot mixed‑use building with commercial and residential components
- Vacant commercial area includes open space, bathroom, rear storage, storefront windows, and wood flooring
- Occupied 2‑bedroom, 1‑bath residential unit with 1,030 living SF
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
$36,495
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
8.59%
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%
$729,900
$729.9K
Cap Rate 7%
$521,357
$521.4K
Cap Rate 9%
$405,500
$405.5K
Market Conditions
NOI Build-Up for 2,309 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
$53.2K $23.04/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$52.1K $22.58/SF
− OpEx
−$15.6K −$6.77/SF
NOI
$36.5K $15.81/SF
Area
ZIP 70119
Vacancy
2.00%
Lease Rate
$23.04 /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%
$729,900
Cap Rate 7%
$521,357
Cap Rate 9%
$405,500
Alternative Uses
Best Use
Retail
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 8.59%
Second Best
Office B
$489.8K
$428.6K – $571.5K
NOI $34,289 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$604.2K
$528.7K – $704.9K
NOI $42,293 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Vacant storefront space is paired with an occupied two-bedroom residence in a flexible commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 4705 Iberville St New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,359‑square‑foot mixed‑use building with commercial and residential components; Vacant commercial area includes open space, bathroom, rear storage, storefront windows, and wood flooring; Occupied 2‑bedroom, 1‑bath residential unit with 1,030 living SF
