Corner-Lot
For Sale
$583,000
6216-18 Fontainebleau Dr, New Orleans, LA 70125
Two main units feature hardwood floors, millwork, and double-parlor layouts with breakfast nooks.
Property Size3,311 SF
Price / SF$176.08
Days on Market9
Property Features for 6216-18 Fontainebleau Dr
General Information
Standard status
Active
Size
3,311 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1940
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 19
Changed: Sep 26
Last Checked: Sep 26 at 6:43AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
Built in 1940, this triplex combines a two-unit main residence with a detached rear efficiency. The upper and lower units each provide 2 bedrooms, 2 full baths, and approximately 1,300 square feet of living space, with large rooms, hardwood floors, millwork, breakfast nooks, and abundant natural light. Exterior features include a covered front porch and an upper balcony, while the overall property contains 5 bedrooms and 5 full baths across approximately 3,311 square feet.
The property occupies a corner lot in the Fontainebleau neighborhood at 6216-18 Fontainebleau Dr, New Orleans, LA 70125. It offers access to the interstate, downtown, Carrollton, Uptown, and nearby universities. The two primary units are vacant, and the detached efficiency is occupied. The property is located in an X flood zone.
The property occupies a corner lot in the Fontainebleau neighborhood at 6216-18 Fontainebleau Dr, New Orleans, LA 70125. It offers access to the interstate, downtown, Carrollton, Uptown, and nearby universities. The two primary units are vacant, and the detached efficiency is occupied. The property is located in an X flood zone.
Key Highlights
- Triplex configuration with 5 bedrooms and 5 full baths across approximately 3,311 square feet
- Two main units each offer 2 bedrooms, 2 full baths, and approximately 1,300 square feet
- Detached rear efficiency is currently occupied
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
7.19%
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 7.19%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 10.10%
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 - Two main units feature hardwood floors, millwork, and double-parlor layouts with breakfast nooks.
Where is this triplex located?
The property is located at 6216-18 Fontainebleau Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $583,000.
What are key features of this property?
This property features: Triplex configuration with 5 bedrooms and 5 full baths across approximately 3,311 square feet; Two main units each offer 2 bedrooms, 2 full baths, and approximately 1,300 square feet; Detached rear efficiency is currently occupied
