Mixed-Use Corner
For Sale
$1,345,000
601 Eighth St, New Orleans, LA 70115
Restored commercial-residential property with a white-box ground floor and renovated three-bedroom residence.
Property Size4,284 SF
Price / SF$313.96
Days on Market315
Property Features for 601 Eighth St
General Information
Standard status
Active
Size
4,284 SF
Property subtype
Retail
Zoning
HU-RD2
Listing Agency:
The McEnery Company Inc
(504) 236-9542
Listed By:
S. McEnery
(504) 236-9542
Source:
Lacdb.resimplifi
Added: Oct 21, 2025
Changed: Aug 30
Last Checked: Aug 26 at 12:18PM
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 The McEnery Company Inc
Investment Insights
Based on property information with market context.
Located at 601 EIGHTH Street in New Orleans, this 2025 mixed-use building combines a 1,901-square-foot commercial space with a 1,943-square-foot, three-bedroom, three-bath residence. The ground floor is delivered as a white box and includes oversized doors and windows, ADA-accessible design, updated plumbing and electrical systems, and fire-safety improvements. Neighborhood Commercial zoning supports a range of commercial applications identified for the space, including retail, gallery, café, office, and wellness uses.
The upper residence features an open layout, vaulted nickel gap ceilings, heart pine flooring, abundant natural light, French doors, and a kitchen with a large island, quartzite counters, and café appliances. Exterior improvements include a restored historic façade, new framing and structural beams, and a fortified metal roof. The property is on a rectangular 61x34 lot and has no parking.
The upper residence features an open layout, vaulted nickel gap ceilings, heart pine flooring, abundant natural light, French doors, and a kitchen with a large island, quartzite counters, and café appliances. Exterior improvements include a restored historic façade, new framing and structural beams, and a fortified metal roof. The property is on a rectangular 61x34 lot and has no parking.
Key Highlights
- 1,901 SF ground‑floor commercial space delivered as a white box
- 1,943 SF upstairs residence with 3 bedrooms and 3 baths
- Neighborhood Commercial zoning supports multiple commercial uses
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
$52,051
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
3.87%
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%
$1,041,020
$1.0M
Cap Rate 7%
$743,586
$743.6K
Cap Rate 9%
$578,344
$578.3K
Market Conditions
NOI Build-Up for 4,284 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
$92.5K $21.60/SF
− Vacancy
−$9.3K −$2.16/SF
EGI
$83.3K $19.44/SF
− OpEx
−$31.2K −$7.29/SF
NOI
$52.1K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /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%
$1,041,020
Cap Rate 7%
$743,586
Cap Rate 9%
$578,344
Alternative Uses
Best Use
Mixed Use
$743.6K
$650.6K – $867.5K
NOI $52,051 @ 7.0% cap · market cap 3.87%
Second Best
Retail
$534.0K
$467.3K – $623.0K
NOI $37,382 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.13M
$989.0K – $1.32M
NOI $79,117 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Home Improvements & Furnishings 17%
Shops & Services 15%
Beauty & Spa 13%
Starbucks
Dining
16,635 visits/mo
0.4 miles
Floor & Decor
Home Improvements & Furnishings
6,964 visits/mo
0.4 miles
Chipotle Mexican Grill
Dining
6,633 visits/mo
0.4 miles
Lush Cosmetics
Beauty & Spa
5,387 visits/mo
0.3 miles
Banfield Pet Hospital
Shops & Services
3,170 visits/mo
0.4 miles
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Restored commercial-residential property with a white-box ground floor and renovated three-bedroom residence.
Where is this mixed-use property located?
The property is located at 601 Eighth St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,345,000.
What are key features of this property?
This property features: 1,901 SF ground‑floor commercial space delivered as a white box; 1,943 SF upstairs residence with 3 bedrooms and 3 baths; Neighborhood Commercial zoning supports multiple commercial uses
