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    Mid-City Mixed-Use Building Title is generated by Realmo AI

    4705 IBERVILLE Street, New Orleans, LA 70119

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    For Sale
    $425,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    2,309 SF
    Price / SF:
    $184/SF
    Added:
    May 14, 2026
    Days on Market:
    10
    Last Refresh:
    May 23 at 2:06 am

    Property Features for 4705 IBERVILLE Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    206210302
    Size
    2,309 SF

    Taxes and HOA fees

    Tax Description
    SQ 611 LOT 2 IBERVILLE 31X120 4705-07 IBERVILLE ST

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1908
    Floors in Building
    1
    Number of units
    2
    Roof type
    Metal, Shingle

    We can help!

    Listing Contact
    Aaron Dare

    Listing agent Aaron Dare License #995681183

    Listing office Crane Realtors 138 N Cortez Street, New Orleans, LA

    Listing date May 14, 2026

    MLS# 2558084 Listing URL

    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.

    HighLights

    • Mixed‑use building: Combines commercial and residential spaces under one roof.
    • Prime Mid‑City location: One block from Canal Street with easy access to I‑10, dining, shopping, and streetcar lines.
    • Versatile commercial space: Open layout, high ceilings, and new luxury vinyl plank flooring suitable for various businesses.
    • Comfortable residential unit: 2 bedrooms, 1 bathroom with high ceilings, natural light, and refinished hardwood floors.
    • Flexible leasing options: Ability to lease commercial and residential spaces separately.
    • Central heating and cooling: Both units have central heating and central air.

    Overview

    This mixed-use building is located in the heart of Mid-City, one block off Canal Street, providing access to I-10, dining, shopping, and the streetcar line along the Canal, Carrollton, and Bienville corridors. The property combines a commercial unit and a residential space. The commercial side features a facade with large picture windows, suited for office, retail, or other neighborhood commercial uses. The storefront offers an open layout with ceiling height and new luxury vinyl plank flooring. The adjacent residential unit is a 2-bedroom, 1-bathroom shotgun plan with the kitchen and living area at the front, bathroom in the middle, and rooms and laundry at the back. It features high ceilings, natural light, an open living and dining layout, and refinished original hardwood floors. The design offers options for convenience or the ability to lease the spaces separately to multiple tenants. The property has a size of 2309 square feet.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $405.5K
    NOI $36,495 @ 9.00% cap · cautious / downside scenario
    Moderate
    $521.4K
    NOI $36,495 @ 7.00% cap · market / base-case scenario
    Aggressive
    $729.9K
    NOI $36,495 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $53.2k $23.04
    − Vacancy −$1.1k −$0.46
    EGI $52.1k $22.58
    − OpEx −$15.6k −$6.77
    NOI $36.5k $15.81
    2,309 SF · lease $23.04/SF/yr · vacancy 2.00% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $521.4K
    $456.2K – $608.3K (±1% cap)
    NOI $36,495 @ 7.0% cap · market cap 8.59%
    Second Best
    Office B
    $489.8K
    $428.6K – $571.5K (±1% cap)
    NOI $34,289 @ 7.0% cap · market cap 8.07%
    Theoretical Best
    Office A
    $604.2K
    $528.7K – $704.9K (±1% cap)
    NOI $42,293 @ 7.0% cap · market cap 9.95%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.106049
    Latitude
    29.979994

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    FAQs

    What type of property is this?
    Mixed-use property - Versatile commercial and residential property in vibrant Mid-City New Orleans.
    Where is this mixed-use property located?
    The property is located at 4705 IBERVILLE Street 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: Mixed‑use building: Combines commercial and residential spaces under one roof.; Prime Mid‑City location: **One block from Canal Street** with easy access to I‑10, dining, shopping, and streetcar lines.; Versatile commercial space: Open layout, **high ceilings**, and new luxury vinyl plank flooring suitable for various businesses.
    (504) 899-8666
    We can help!
    Listing Contact
    Aaron Dare
    Real Estate License ID: 995681183
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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