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 Market61
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
Listed By:
Cassondra Larsen · License #000028198
(504) 628-4686
Source:
Dominionplace
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 7 at 2:38PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$14,924
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in New Orleans, LA
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
