Historic Mixed-Use
508 Natchez St New Orleans, LA 70130
For Sale
Contact for pricing
Two vacant ground-floor retail spaces with four occupied residences in a CBD-2 historic mixed-use district.
Property Size7,800 SF
Price / SF$250
Days on Market58
Property Features for 508 Natchez St
General Information
- Standard status
- Active
- Size
- 7,800 SF
- Property subtype
- Retail, Multifamily, Mixed Use
Building Details
- Year Built
- 1900
Listing Agency:
NAI Rampart
Listed By:
Nicholas Lahaye · License #LA995689669
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 23 at 7:40AM
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 NAI Rampart
Investment Insights
Based on property information with market context.
Built circa 1900, this historic mixed-use building combines street-level commercial space with multi-family units above. The 1st floor includes two vacant commercial spaces totaling approximately 2,200 SF, while the 2nd and 3rd floors are comprised of four fully occupied residential units.
Located in the CBD on Natchez Street between Magazine and Camp, the property sits on a historic commercial alley that retains a late-19th-century industrial scale. The immediate area is described as a “quiet core” of the Central Business District, with proximity to the Federal Courts, the St. Charles Streetcar, and dining on Magazine Street.
For buyers or operators, the layout provides flexibility: a ground-floor component that is currently vacant for future retail or office use, paired with existing residential occupancy above. With the property currently zoned CBD-2 Historic Commercial and Mixed-Use District, the described intent of the district is to support reuse of existing structures and smaller floor plates for office, retail, institutional, and residential uses that help maintain the vitality of the Central Business District as a destination for residents and visitors.
Located in the CBD on Natchez Street between Magazine and Camp, the property sits on a historic commercial alley that retains a late-19th-century industrial scale. The immediate area is described as a “quiet core” of the Central Business District, with proximity to the Federal Courts, the St. Charles Streetcar, and dining on Magazine Street.
For buyers or operators, the layout provides flexibility: a ground-floor component that is currently vacant for future retail or office use, paired with existing residential occupancy above. With the property currently zoned CBD-2 Historic Commercial and Mixed-Use District, the described intent of the district is to support reuse of existing structures and smaller floor plates for office, retail, institutional, and residential uses that help maintain the vitality of the Central Business District as a destination for residents and visitors.
Key Highlights
- Built c. 1900 with a mixed‑use setup in a CBD‑2 historic commercial district.
- Approximately 2,200 SF total: two vacant first‑floor commercial spaces.
- Includes 4 fully occupied residential units on the 2nd and 3rd floors.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $187.2k | $24.00 |
| − Vacancy | −$18.7k | −$2.40 |
| EGI | $168.5k | $21.60 |
| − OpEx | −$63.2k | −$8.10 |
| NOI | $105.3k | $13.50 |
7,800 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$1.50M
$1.32M – $1.76M
NOI $105,300 @ 7.0% cap · market cap 5.40%
Second Best
Multifamily LT 5
$1.41M
$1.23M – $1.65M
NOI $98,767 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,775 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Two vacant ground-floor retail spaces with four occupied residences in a CBD-2 historic mixed-use district.
Where is this quadplex located?
The property is located at 508 Natchez St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Built c. 1900 with a mixed‑use setup in a CBD‑2 historic commercial district.; Approximately 2,200 SF total: two vacant first‑floor commercial spaces.; Includes 4 fully occupied residential units on the 2nd and 3rd floors.
