Historic Mixed-Use
For Sale
$1,950,000
508 Natchez St, New Orleans, LA 70130
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 Market184
Property Features for 508 Natchez St
General Information
Standard status
Active
Size
7,800 SF
Property subtype
Retail
Zoning
CBD-2
Site & Location
Neighborhood
Central Business District
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
Listed By:
Nicholas Lahaye
(601) 916-5580
Source:
Lacdb.resimplifi
Added: Apr 23
Changed: Oct 12
Last Checked: Oct 23 at 3:20AM
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 Commercial Real Estate New Orleans
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$105,300
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,106,000
$2.1M
Cap Rate 7%
$1,504,286
$1.5M
Cap Rate 9%
$1,170,000
$1.2M
Market Conditions
NOI Build-Up for 7,800 SF
Gross rent
$187.2K $24.00/SF
− Vacancy
−$18.7K −$2.40/SF
EGI
$168.5K $21.60/SF
− OpEx
−$63.2K −$8.10/SF
NOI
$105.3K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,106,000
Cap Rate 7%
$1,504,286
Cap Rate 9%
$1,170,000
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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.
