Two-Story Storefront
For Sale
$1,995,000
622 Frenchmen Street, New Orleans, LA 70116
Ground-floor retail space within New Orleans’ HMC-1 commercial district, adjacent to established Frenchmen Street music venues.
Property Size5,417 SF
Lot Size0.07 Acres
Price / SF$368.29
Days on Market90
Property Features for 622 Frenchmen Street
General Information
Standard status
Active
Size
5,417 SF
Lot size
0.07 Acres
Property subtype
Retail
Zoning
HMC-1
Building Details
Stories
2
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
(504) 236-7816
Listed By:
Reed Wiley · License ##BROK.995704349-ASA
(504) 236-7816
Source:
Lacdb.resimplifi
Added: May 31
Changed: Aug 28
Last Checked: Aug 28 at 12:07AM
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 NAI Rampart Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
This two-story storefront property contains approximately 5,417 SF of improvements on an approximately 3,248 SF parcel. Retail space occupies the ground floor, providing a commercial presence along Frenchmen Street in New Orleans.
The property is situated between D.B.A. and Snug Harbor Jazz Bistro within the Frenchmen Street entertainment district. It carries HMC-1 zoning, the Historic Marigny/Tremé/Bywater Commercial District designation. The sale is offered in “as is, where is” condition, with measurements, zoning, overlays, and intended use subject to purchaser verification.
The property is situated between D.B.A. and Snug Harbor Jazz Bistro within the Frenchmen Street entertainment district. It carries HMC-1 zoning, the Historic Marigny/Tremé/Bywater Commercial District designation. The sale is offered in “as is, where is” condition, with measurements, zoning, overlays, and intended use subject to purchaser verification.
Key Highlights
- Approximately 5,417 SF of improvements
- Approximately 3,248 SF parcel
- Two‑story building with ground‑floor retail
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
$66,889
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
3.35%
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%
$1,337,780
$1.3M
Cap Rate 7%
$955,557
$955.6K
Cap Rate 9%
$743,211
$743.2K
Market Conditions
NOI Build-Up for 5,417 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
$97.5K $18.00/SF
− Vacancy
−$2.0K −$0.36/SF
EGI
$95.6K $17.64/SF
− OpEx
−$28.7K −$5.29/SF
NOI
$66.9K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /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%
$1,337,780
Cap Rate 7%
$955,557
Cap Rate 9%
$743,211
Alternative Uses
Best Use
Retail
$955.6K
$836.1K – $1.11M
NOI $66,889 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,378 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,452
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Hotels & Casinos 27%
Starbucks
Dining
12,255 visits/mo
0.3 miles
Hampton Inn New Orleans French Quarter Market Area
Hotels & Casinos
9,002 visits/mo
0.1 miles
CC's Coffee House
Dining
8,554 visits/mo
0.4 miles
Rally's
Dining
3,101 visits/mo
0.5 miles
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Ground-floor retail space within New Orleans’ HMC-1 commercial district, adjacent to established Frenchmen Street music venues.
Where is this storefront property located?
The property is located at 622 Frenchmen Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Approximately 5,417 SF of improvements; Approximately 3,248 SF parcel; Two‑story building with ground‑floor retail
