Mixed-Use Property with
For Sale
$675,000
4710 Canal Street, New Orleans, LA 70119
Leased commercial space, residential apartments, and a separately accessible basement create a flexible multi-level configuration.
Property Size4,718 SF
Days on Market9
Property Features for 4710 Canal Street
General Information
Standard status
Active
Size
4,718 SF
Property subtype
Commercial
Zoning
HUMU
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Building Details
Building Size
4,718 SF
Year Built
1925
Stories
3
Listing Agency:
McCarthy Group Realtors
(504) 669-0076
Listed By:
Stephanie Argrave · License #000058658
(504) 669-0076
Source:
Nolalivingrealty
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 6:38AM
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 McCarthy Group Realtors
Investment Insights
Based on property information with market context.
This mixed-use property combines a leased commercial area on the main level with residential space above. The existing arrangement includes a one-bedroom apartment on the second floor, while the commercial portion can be reconfigured into two separate apartments. A gutted basement adds additional space for future development and includes separate entrances, existing electrical and plumbing, and four bathrooms.
The property fronts Canal Street and has direct access to the streetcar line. Additional site improvements include off-street parking, a separate storage building, and a backyard. Utility service is separately metered with three electrical meters, one gas meter, and one water meter. Built in 1925, the property offers multiple existing components for a mixed-use or residential configuration.
The property fronts Canal Street and has direct access to the streetcar line. Additional site improvements include off-street parking, a separate storage building, and a backyard. Utility service is separately metered with three electrical meters, one gas meter, and one water meter. Built in 1925, the property offers multiple existing components for a mixed-use or residential configuration.
Key Highlights
- Main‑level commercial space is currently leased
- Second‑floor one‑bedroom apartment
- Commercial area can be converted into two apartments
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
$54,912
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
8.14%
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%
$1,098,240
$1.1M
Cap Rate 7%
$784,457
$784.5K
Cap Rate 9%
$610,133
$610.1K
Market Conditions
NOI Build-Up for 4,718 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
$109.8K $23.28/SF
− Vacancy
−$10.0K −$2.12/SF
EGI
$99.8K $21.16/SF
− OpEx
−$44.9K −$9.52/SF
NOI
$54.9K $11.64/SF
Area
ZIP 70119
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,098,240
Cap Rate 7%
$784,457
Cap Rate 9%
$610,133
Alternative Uses
Best Use
Mixed Use
$889.7K
$778.5K – $1.04M
NOI $62,278 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$784.5K
$686.4K – $915.2K
NOI $54,912 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,419 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,664
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Leased commercial space, residential apartments, and a separately accessible basement create a flexible multi-level configuration.
Where is this mixed-use property located?
The property is located at 4710 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Main‑level commercial space is currently leased; Second‑floor one‑bedroom apartment; Commercial area can be converted into two apartments
