Mixed-Use Building with
601 Eighth Street, New Orleans, LA 70115
For Sale
$1,000,000
The upper-level home has three bedrooms, three bathrooms, and an open-plan layout.
Property Size3,844 SF
Price / SF$260.15
Days on Market145
Property Features for 601 Eighth Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Corner Location
Mixed-Use Components
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown
(504) 799-1702
Listed By:
Frederick P Lemann · License #000027829
(504) 460-6340
Source:
Cypresskeyrealty
Added: Jun 15
Changed: Nov 6
Last Checked: Nov 6 at 2:45PM
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 Berkshire Hathaway HS - Garden District/Uptown
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Investment Insights
Based on property information with market context.
This 3,844-square-foot mixed-use property dates to 1830 and combines an income-producing first-floor space with a second-floor residence. The home includes three bedrooms and three bathrooms, an open floor plan, a kitchen, vaulted ceilings, heart pine flooring, and a deep balcony. Both spaces are occupied.
A ground-up reconstruction added new framing and structural beams, along with a metal roof, plumbing, and electrical systems. The property has an ADA-accessible design and fire-safety compliance. It is located at 601 Eighth Street in New Orleans.
A ground-up reconstruction added new framing and structural beams, along with a metal roof, plumbing, and electrical systems. The property has an ADA-accessible design and fire-safety compliance. It is located at 601 Eighth Street in New Orleans.
Key Highlights
- 3,844‑square‑foot mixed‑use property
- First‑floor income‑producing space with a second‑floor residence; both units are occupied
- Upper‑level residence has 3 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,705
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,100
$934.1K
Cap Rate 7%
$667,214
$667.2K
Cap Rate 9%
$518,944
$518.9K
Market Conditions
NOI Build-Up for 3,844 SF
Gross rent
$83.0K $21.60/SF
− Vacancy
−$8.3K −$2.16/SF
EGI
$74.7K $19.44/SF
− OpEx
−$28.0K −$7.29/SF
NOI
$46.7K $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 Rate 5%
$934,100
Cap Rate 7%
$667,214
Cap Rate 9%
$518,944
Alternative Uses
Best Use
Mixed Use
$667.2K
$583.8K – $778.4K
NOI $46,705 @ 7.0% cap · market cap 4.67%
Second Best
Retail
$479.2K
$419.3K – $559.0K
NOI $33,542 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.01M
$887.4K – $1.18M
NOI $70,991 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
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
$616,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in New Orleans, LA
Properties on Market for Mixed-use properties in New Orleans
Vacancy Rate% for Retail in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Mixed-use property - The upper-level home has three bedrooms, three bathrooms, and an open-plan layout.
Where is this mixed-use property located?
The property is located at 601 Eighth Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,844‑square‑foot mixed‑use property; First‑floor income‑producing space with a second‑floor residence; both units are occupied; Upper‑level residence has 3 bedrooms and 3 bathrooms
