Mixed-Use Property with Upper-Level
601 Eighth Street, New Orleans, LA 70115
For Sale
$975,000
Commercial Sale, New Orleans, LA
Property Size3,844 SF
Price / SF$253.64
Days on Market153
Property Features for 601 Eighth Street
General Information
Property type
Property subtype
Standard status
APN
Size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown · Berkshire Hathaway HomeServices
(504) 799-1702
Listed By:
Frederick P Lemann · License LA #000027829
(504) 460-6340
Added: Jun 15
Changed: Nov 13
Last Checked: Nov 14 at 2:06AM
MLS# 2563161
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,844-square-foot mixed-use property combines ground-floor commercial space with a three-bedroom, three-bath residence above. The home features an open layout, a kitchen, vaulted ceilings, heart pine flooring, and a deep balcony. Both units are occupied.
The building dates to 1830 and stands at 601 Eighth Street in New Orleans. Improvements include new framing and structural beams, a metal roof, updated plumbing and electrical systems, ADA-accessible design, and fire-safety compliance. Central heating and air conditioning serve the property.
The building dates to 1830 and stands at 601 Eighth Street in New Orleans. Improvements include new framing and structural beams, a metal roof, updated plumbing and electrical systems, ADA-accessible design, and fire-safety compliance. Central heating and air conditioning serve the property.
Key Highlights
- 3,844 square feet of mixed‑use space
- Three‑bedroom, three‑bath residence on the second floor
- Ground‑floor commercial space; both units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,705
Cap Rate
4.79%
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 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$887.4K – $1.18M
NOI $70,991 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
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Business Placement
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
$616,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in New Orleans, LA
Properties on Market for Mixed-use properties in New Orleans
Frequently Asked Questions
What type of property is this?
Mixed-use property - A three-bedroom residence occupies the second floor above ground-floor commercial space.
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 $975,000.
What are key features of this property?
This property features: 3,844 square feet of mixed‑use space; Three‑bedroom, three‑bath residence on the second floor; Ground‑floor commercial space; both units are occupied
