Historic Two-Story Restaurant
New
For Sale
$1,500,000
511 Saint Louis St, New Orleans, LA 70130
Established restaurant improvements occupy a historic building in New Orleans’ French Quarter, with the real estate and business offered together.
Property Size3,350 SF
Days on Market4
Property Features for 511 Saint Louis St
General Information
Standard status
Active
Size
3,350 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Building Details
Building Size
3,350 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
FQR Realtors
Listed By:
Evan Dominique · License #995710779
(337) 254-4669
Source:
Lee-associates
Added: Sep 11
Last Checked: Sep 14 at 6:50AM
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 FQR Realtors
Investment Insights
Based on property information with market context.
Built in 1900, this two-story historic restaurant property at 511 Saint Louis Street is located in New Orleans’ French Quarter. The premises are occupied by Johnny’s Po-Boys, a restaurant that has served the New Orleans community for more than 75 years.
The property is positioned two blocks from Jackson Square within a neighborhood recognized for pedestrian activity and historic character. The offering combines the real estate with the established restaurant business, providing a single acquisition that includes both the building and its operating restaurant presence.
The property is positioned two blocks from Jackson Square within a neighborhood recognized for pedestrian activity and historic character. The offering combines the real estate with the established restaurant business, providing a single acquisition that includes both the building and its operating restaurant presence.
Key Highlights
- Two‑story historic restaurant property built in 1900
- 511 Saint Louis St, New Orleans, LA 70130
- Johnny’s Po‑Boys has served the community for more than 75 years
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
$47,275
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
3.15%
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%
$945,500
$945.5K
Cap Rate 7%
$675,357
$675.4K
Cap Rate 9%
$525,278
$525.3K
Market Conditions
NOI Build-Up for 3,350 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
$64.3K $19.20/SF
− Vacancy
−$1.3K −$0.38/SF
EGI
$63.0K $18.82/SF
− OpEx
−$15.8K −$4.70/SF
NOI
$47.3K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$945,500
Cap Rate 7%
$675,357
Cap Rate 9%
$525,278
Alternative Uses
Best Use
Specialty Retail
$675.4K
$590.9K – $787.9K
NOI $47,275 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$851.5K
$745.0K – $993.4K
NOI $59,602 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
7,908
Businesses Nearby
316k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 53%
Dining 16%
Groceries 13%
Shops & Services 8%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.4 miles
Rouses Market
Groceries
35,073 visits/mo
0.1 miles
Chevron
Shops & Services
23,516 visits/mo
0.4 miles
DoubleTree by Hilton Hotel New Orleans
Hotels & Casinos
18,904 visits/mo
0.4 miles
Dick's Last Resort
Dining
16,371 visits/mo
0.2 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Conventional restaurant - Established restaurant improvements occupy a historic building in New Orleans’ French Quarter, with the real estate and business offered together.
Where is this conventional restaurant located?
The property is located at 511 Saint Louis St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two‑story historic restaurant property built in 1900; 511 Saint Louis St, New Orleans, LA 70130; Johnny’s Po‑Boys has served the community for more than 75 years
