Restaurant with Mezzanine and
For Sale
$600,000
810-12 N Claiborne Avenue, New Orleans, LA 70116
HMC-2 zoning supports both standard and specialty restaurant uses under the CZO.
Property Size2,470 SF
Price / SF$242.91
Days on Market30
Property Features for 810-12 N Claiborne Avenue
General Information
Standard status
Active
Size
2,470 SF
Zoning
HMC-2
Restaurant
Commercial Hood
Yes
Patio
Yes
Additional Details
Highway Access
Yes
Amenities
upstairs mezzanine
independent bar area
Listing Agency:
FQR Realtors
(504) 529-9559
Listed By:
Andrew Grafe · License #995682122
(504) 529-9559
Source:
Exprealty
Added: Jul 16
Changed: Aug 14
Last Checked: Aug 14 at 6:33AM
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 FQR Realtors
Investment Insights
Based on property information with market context.
Located at 810-12 N Claiborne Avenue in New Orleans, this restaurant property includes a substantial dining room with an upstairs mezzanine, a separate bar area, and an outdoor yard and patio suited to additional dining or events. The kitchen has fire suppression and vent hood systems updated to current requirements.
HMC-2 zoning supports standard and specialty restaurant uses under the CZO. The property is near parking beneath the Claiborne Avenue overpass, with access to I-10 and a location a few blocks from the French Quarter. Its Tremé setting places the restaurant within an established New Orleans district.
HMC-2 zoning supports standard and specialty restaurant uses under the CZO. The property is near parking beneath the Claiborne Avenue overpass, with access to I-10 and a location a few blocks from the French Quarter. Its Tremé setting places the restaurant within an established New Orleans district.
Key Highlights
- Dining area includes an upstairs mezzanine
- Kitchen has updated fire suppression and vent hood systems
- Independent bar area
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
$34,857
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
5.81%
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%
$697,140
$697.1K
Cap Rate 7%
$497,957
$498.0K
Cap Rate 9%
$387,300
$387.3K
Market Conditions
NOI Build-Up for 2,470 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
$47.4K $19.20/SF
− Vacancy
−$948 −$0.38/SF
EGI
$46.5K $18.82/SF
− OpEx
−$11.6K −$4.70/SF
NOI
$34.9K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /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%
$697,140
Cap Rate 7%
$497,957
Cap Rate 9%
$387,300
Alternative Uses
Best Use
Specialty Retail
$498.0K
$435.7K – $581.0K
NOI $34,857 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.8K
$549.3K – $732.4K
NOI $43,945 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
2,911
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - HMC-2 zoning supports both standard and specialty restaurant uses under the CZO.
Where is this conventional restaurant located?
The property is located at 810-12 N Claiborne Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Dining area includes an upstairs mezzanine; Kitchen has updated fire suppression and vent hood systems; Independent bar area
