Mixed-Use Property with
For Sale
$200,000
641 S SALCEDO Street, New Orleans, LA 70119
Commercial, New Orleans, LA
Property Size1,005 SF
Price / SF$199
Days on Market147
Property Features for 641 S SALCEDO Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Parking features
Off Street, Driveway
Lot features
Regular
Standard status
Active
APN
421-SSALCEDOST
Size
1,005 SF
Taxes and HOA fees
Tax Description
SQ 652 LOT C OR PT LOTS 1 2SALCEDO 27 3X58 8
Legal Description
SQ 652 LOT C OR PT LOTS 1 2SALCEDO 27 3X58 8
Utilities
Water source
Public
Amenities
gated off-street parking
updated kitchen
hardwood floors
energy-efficient windows
Building Details
Year built
1943
Floors in Building
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Cassondra Larsen · License #000028198
(504) 628-4686
Added: Apr 15
Changed: Aug 20
Last Checked: Sep 8 at 10:06AM
MLS# 2552994
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,005 square foot MU-zoned building offers a flexible configuration with three private rooms, one full bath, an updated kitchen, and hardwood flooring. Gated off-street parking, energy-efficient windows, and a roof and HVAC system approximately five years old add practical utility for an owner-user or other permitted occupancy. Public water serves the property.
The site is in New Orleans’ Mid-City area, with nearby access to the BioMedical District, VA Hospital, University Medical Center, Tulane Avenue, downtown, the French Quarter, and Interstate connections. The property also has a documented operating history as a professionally managed short-term rental. Intended uses should be confirmed with the City of New Orleans.
The site is in New Orleans’ Mid-City area, with nearby access to the BioMedical District, VA Hospital, University Medical Center, Tulane Avenue, downtown, the French Quarter, and Interstate connections. The property also has a documented operating history as a professionally managed short-term rental. Intended uses should be confirmed with the City of New Orleans.
Key Highlights
- 1,005 square foot MU‑zoned building in New Orleans’ Mid‑City area
- Three private rooms, one full bath, updated kitchen, and hardwood floors
- Gated off‑street parking with driveway access
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 - Flexible MU-zoned building with private rooms, parking, and updated major systems near New Orleans’ medical and downtown districts.
Where is this mixed-use property located?
The property is located at 641 S SALCEDO Street 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 MU‑zoned building in New Orleans’ Mid‑City area; Three private rooms, one full bath, updated kitchen, and hardwood floors; Gated off‑street parking with driveway access
