Mixed-Use Property with Gated
For Sale
$200,000
641 S Salcedo St, New Orleans, LA 70119
MU zoning offers flexibility for office, residential, and live-work use, subject to verification.
Property Size1,005 SF
Price / SF$199
Days on Market15
Property Features for 641 S Salcedo St
General Information
Standard status
Active
Size
1,005 SF
Zoning
MU
Additional Details
Highway Access
Yes
Amenities
hardwood floors
updated kitchen
energy-efficient windows
Building Details
Year Built
1943
Buildings
1
Building Size
1,005 SF
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 628-4686
Listed By:
Cassondra Larsen · License #000028198
Source:
Dominionplace
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 8:12PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This 1,005-square-foot mixed-use property includes three private rooms, one full bath, an updated kitchen, hardwood flooring, and energy-efficient windows. Gated off-street parking provides dedicated vehicle storage, while the roof and HVAC were updated approximately five years ago. Constructed in 1943, the building has a documented operating history as a professionally managed short-term rental.
The property is positioned near the New Orleans BioMedical District, VA Hospital, University Medical Center, Tulane Avenue Corridor, Downtown, and the French Quarter, with interstate access also noted. MU zoning may support professional office, owner-occupied business, live-work, residential, or other permitted mixed-use applications, subject to confirmation with the City of New Orleans.
The property is positioned near the New Orleans BioMedical District, VA Hospital, University Medical Center, Tulane Avenue Corridor, Downtown, and the French Quarter, with interstate access also noted. MU zoning may support professional office, owner-occupied business, live-work, residential, or other permitted mixed-use applications, subject to confirmation with the City of New Orleans.
Key Highlights
- 1,005‑square‑foot building with three private rooms and one full bath
- MU Mixed‑Use Zoning; buyer to verify intended uses with the City of New Orleans
- Gated off‑street parking, hardwood floors, updated kitchen, and energy‑efficient windows
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
$14,924
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
7.46%
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%
$298,480
$298.5K
Cap Rate 7%
$213,200
$213.2K
Cap Rate 9%
$165,822
$165.8K
Market Conditions
NOI Build-Up for 1,005 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
$24.1K $24.00/SF
− Vacancy
−$4.2K −$4.20/SF
EGI
$19.9K $19.80/SF
− OpEx
−$5.0K −$4.95/SF
NOI
$14.9K $14.85/SF
Area
ZIP 70119
Vacancy
17.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$298,480
Cap Rate 7%
$213,200
Cap Rate 9%
$165,822
Alternative Uses
Best Use
Office B
$213.2K
$186.6K – $248.7K
NOI $14,924 @ 7.0% cap · market cap 7.46%
Second Best
Mixed Use
$189.5K
$165.8K – $221.1K
NOI $13,266 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$263.0K
$230.1K – $306.8K
NOI $18,408 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,967
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MU zoning offers flexibility for office, residential, and live-work use, subject to verification.
Where is this mixed-use property located?
The property is located at 641 S Salcedo St New Orleans, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,005‑square‑foot building with three private rooms and one full bath; MU Mixed‑Use Zoning; buyer to verify intended uses with the City of New Orleans; Gated off‑street parking, hardwood floors, updated kitchen, and energy‑efficient windows
