Triplex with Detached
For Sale
$595,000
6216-18 Fontainebleau Drive, New Orleans, LA 70125
Corner-lot property with two spacious main-house residences, a detached efficiency, historic details, and covered outdoor areas.
Property Size3,311 SF
Price / SF$179.70
Days on Market161
Property Features for 6216-18 Fontainebleau Drive
General Information
Standard status
Active
Size
3,311 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
Central Air, Other
Central, Wall Furnace
1
5
In-Unit
Asphalt
Other
2
Balcony
Pillar/Post/Pier
Porch
Building Details
Year Built
1940
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 319-1701
Listed By:
Eddie Breaux · License #995695890
(504) 319-1701
Source:
Compass
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 31 at 10:21PM
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 HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
Built in 1940, this triplex occupies a corner lot and includes a primary structure divided into two residences plus a detached rear efficiency. The upper and lower main-house units each provide two bedrooms, two full bathrooms, approximately 1,300 square feet, natural light, hardwood floors, millwork, breakfast nooks, and large rooms. A covered front porch and upper balcony add outdoor space, while the upper residence overlooks Fontainebleau Drive from its private balcony. The property totals approximately 3,311 square feet with five bedrooms and five full bathrooms. The two main-house units are vacant, and the detached efficiency is occupied. Central air, wall furnace heating, in-unit laundry, and an X flood zone are also noted.
Located at 6216-18 Fontainebleau Drive in New Orleans, the property offers access to the interstate, downtown, Carrollton, Uptown, and nearby universities. The address is within the Fontainebleau neighborhood, with the main residence oriented toward Fontainebleau Drive.
Located at 6216-18 Fontainebleau Drive in New Orleans, the property offers access to the interstate, downtown, Carrollton, Uptown, and nearby universities. The address is within the Fontainebleau neighborhood, with the main residence oriented toward Fontainebleau Drive.
Key Highlights
- Triplex configuration with two main‑house residences and a detached rear efficiency
- Approximately 3,311 square feet with 5 bedrooms and 5 full bathrooms
- Each main‑house unit offers 2 bedrooms, 2 full bathrooms, and approximately 1,300 square feet
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
$41,926
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
7.05%
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%
$838,520
$838.5K
Cap Rate 7%
$598,943
$598.9K
Cap Rate 9%
$465,844
$465.8K
Market Conditions
NOI Build-Up for 3,311 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
$65.6K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$59.9K $18.09/SF
− OpEx
−$18.0K −$5.43/SF
NOI
$41.9K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$838,520
Cap Rate 7%
$598,943
Cap Rate 9%
$465,844
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Corner-lot property with two spacious main-house residences, a detached efficiency, historic details, and covered outdoor areas.
Where is this triplex located?
The property is located at 6216-18 Fontainebleau Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Triplex configuration with two main‑house residences and a detached rear efficiency; Approximately 3,311 square feet with 5 bedrooms and 5 full bathrooms; Each main‑house unit offers 2 bedrooms, 2 full bathrooms, and approximately 1,300 square feet
