Three-Story Mixed-Use
For Sale
$850,000
509 Conti St, New Orleans, LA 70130
Ground-floor retail space is paired with apartments on the upper levels and in the attic.
Property Size3,600 SF
Price / SF$236.11
Days on Market94
Property Features for 509 Conti St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multifamily
Zoning
VCC-2
Amenities
Vacant
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Jon Huffman Real Estate
Listed By:
Yosef Greenwald · License #995699035
(504) 405-8491
Source:
Lacdb.resimplifi
Added: Jul 16
Changed: Oct 3
Last Checked: Oct 16 at 5:49AM
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 Jon Huffman Real Estate
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Investment Insights
Based on property information with market context.
This three-story property combines commercial and residential components within one building. Retail space occupies the ground level, while the second and third floors provide apartment accommodations. An attic area adds further interior space to the upper portion of the property.
Located at 509 Conti Street in New Orleans’ French Quarter, the building is positioned within an area described as serving both tourist and local traffic. The property’s configuration brings storefront space and multiple residential levels together in a single asset, with the attic included as part of the overall layout.
Located at 509 Conti Street in New Orleans’ French Quarter, the building is positioned within an area described as serving both tourist and local traffic. The property’s configuration brings storefront space and multiple residential levels together in a single asset, with the attic included as part of the overall layout.
Key Highlights
- Three‑story mixed‑use building
- Ground‑level commercial retail space
- Apartments located on the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,600
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$972,000
$972.0K
Cap Rate 7%
$694,286
$694.3K
Cap Rate 9%
$540,000
$540.0K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$86.4K $24.00/SF
− Vacancy
−$8.6K −$2.40/SF
EGI
$77.8K $21.60/SF
− OpEx
−$29.2K −$8.10/SF
NOI
$48.6K $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%
$972,000
Cap Rate 7%
$694,286
Cap Rate 9%
$540,000
Alternative Uses
Best Use
Mixed Use
$694.3K
$607.5K – $810.0K
NOI $48,600 @ 7.0% cap · market cap 5.72%
Second Best
Retail
$635.0K
$555.7K – $740.9K
NOI $44,453 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$915.0K
$800.6K – $1.07M
NOI $64,050 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,445
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail space is paired with apartments on the upper levels and in the attic.
Where is this mixed-use property located?
The property is located at 509 Conti St New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑story mixed‑use building; Ground‑level commercial retail space; Apartments located on the second and third floors
