Four-Story Storefront
For Sale
$2,500,000
515 Toulouse St, New Orleans, LA 70130
The building carries VCC-2 zoning and is fully sprinklered, with off-site parking across the street.
Property Size16,510 SF
Price / SF$151.42
Days on Market459
Property Features for 515 Toulouse St
General Information
Standard status
Active
Size
16,510 SF
Property subtype
Retail
Zoning
VCC-2
Additional Details
Sprinkler System
Yes
Building Details
Buildings
1
Stories
4
Listing Agency:
Beau Box Commercial Real Estate
(225) 237-3343
Listed By:
Beau Box · License #72498
(225) 237-3343
Source:
Lacdb.resimplifi
Added: May 29, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:02PM
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 Beau Box Commercial Real Estate
Investment Insights
Based on property information with market context.
This four-story storefront building at 515 Toulouse St is positioned in New Orleans’ French Quarter and is fully sprinklered. The property is presented for conversion and redevelopment, with historical tax credit considerations and façade credit availability noted in the offering. VCC-2 zoning applies to the site.
The building is approximately 100 feet from Decatur Street and the JAX Brewery, near the Decatur Street and Toulouse Street intersection and next to Cafe Maspero. Off-site parking is located directly across Toulouse and Chartres Streets. The adjacent 517 Toulouse St, a three-story building, is also available and was previously associated with Haspel Suite Company and Ralph and Kacoo’s.
The building is approximately 100 feet from Decatur Street and the JAX Brewery, near the Decatur Street and Toulouse Street intersection and next to Cafe Maspero. Off-site parking is located directly across Toulouse and Chartres Streets. The adjacent 517 Toulouse St, a three-story building, is also available and was previously associated with Haspel Suite Company and Ralph and Kacoo’s.
Key Highlights
- Four‑story building at 515 Toulouse St
- VCC‑2 zoning and full sprinkler coverage
- Approximately 100 feet from Decatur Street and JAX Brewery
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
$203,865
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
8.15%
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%
$4,077,300
$4.1M
Cap Rate 7%
$2,912,357
$2.9M
Cap Rate 9%
$2,265,167
$2.3M
Market Conditions
NOI Build-Up for 16,510 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
$297.2K $18.00/SF
− Vacancy
−$5.9K −$0.36/SF
EGI
$291.2K $17.64/SF
− OpEx
−$87.4K −$5.29/SF
NOI
$203.9K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$4,077,300
Cap Rate 7%
$2,912,357
Cap Rate 9%
$2,265,167
Alternative Uses
Best Use
Retail
$2.91M
$2.55M – $3.40M
NOI $203,865 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.67M – $4.90M
NOI $293,741 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
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
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?
Storefront property - The building carries VCC-2 zoning and is fully sprinklered, with off-site parking across the street.
Where is this storefront property located?
The property is located at 515 Toulouse St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑story building at 515 Toulouse St; VCC‑2 zoning and full sprinkler coverage; Approximately 100 feet from Decatur Street and JAX Brewery
