Mixed-Use Building with Retail
New
For Sale
$1,950,000
510 NATCHEZ Street, New Orleans, LA 70130
Two vacant ground-floor commercial spaces accompany four occupied residential units in a multi-level property.
Property Size7,800 SF
Days on Market5
Property Features for 510 NATCHEZ Street
General Information
Standard status
Active
Size
7,800 SF
Zoning
CBD-2
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Building Size
7,800 SF
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Wurth Real Estate Services
(504) 715-9589
Listed By:
Barrett Van Zandt
(504) 715-9589
Source:
Talbot-realty
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 5:04AM
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 Wurth Real Estate Services
Investment Insights
Based on property information with market context.
This mixed-use property was constructed in 1900 and combines commercial and residential components across three levels. The first floor contains two vacant commercial spaces totaling approximately 2200 SF, while four residential units occupy the second and third floors and are fully occupied.
The property is located at 510 NATCHEZ Street in New Orleans, between Magazine and Camp streets. It is near the Federal Courts, the St. Charles Streetcar, and Magazine Street dining. CBD-2 zoning supports commercial and mixed-use applications and is intended for the reuse of existing structures within historic Central Business District areas.
The property is located at 510 NATCHEZ Street in New Orleans, between Magazine and Camp streets. It is near the Federal Courts, the St. Charles Streetcar, and Magazine Street dining. CBD-2 zoning supports commercial and mixed-use applications and is intended for the reuse of existing structures within historic Central Business District areas.
Key Highlights
- Four fully occupied residential units on the second and third floors
- Two vacant first‑floor commercial spaces totaling approximately 2200 SF
- CBD‑2 zoning allows commercial and mixed‑use applications
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
$105,300
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
5.40%
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%
$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
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
$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 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%
$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
Retail
$1.38M
$1.20M – $1.61M
NOI $96,314 @ 7.0% cap · market cap 4.94%
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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,866
Businesses Nearby
478k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 73%
Groceries 11%
Dining 11%
Apparel 3%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.5 miles
Rouses Market
Groceries
49,050 visits/mo
0.4 miles
New Orleans Marriott Warehouse Arts District
Hotels & Casinos
29,429 visits/mo
0.4 miles
Hotel Fontenot
Hotels & Casinos
20,339 visits/mo
0.0 miles
DoubleTree by Hilton Hotel New Orleans
Hotels & Casinos
18,904 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two vacant ground-floor commercial spaces accompany four occupied residential units in a multi-level property.
Where is this mixed-use property located?
The property is located at 510 NATCHEZ Street 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: Four fully occupied residential units on the second and third floors; Two vacant first‑floor commercial spaces totaling approximately 2200 SF; CBD‑2 zoning allows commercial and mixed‑use applications
