Historic Three-Unit Multifamily
For Sale
$1,045,000
817 BARRACKS Street, New Orleans, LA 70116
Updated residential income property with historic character in a walkable French Quarter setting.
Property Size3,320 SF
Price / SF$314.76
Days on Market335
Property Features for 817 BARRACKS Street
General Information
Standard status
Active
Size
3,320 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Gross Income
$66,000
Public Transit
Yes
Multifamily Units
3
Building Details
Building Size
3,320 SF
Year Built
1900
Listing Agency:
Bridgewater Realty Advisors, LLC
(504) 274-2701
Listed By:
Mason McCullough · License #LA9705
Source:
Burkbrokerage
Added: Oct 1, 2025
Changed: Aug 29
Last Checked: Aug 30 at 8:58PM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this historic multifamily property contains 3,320 square feet arranged across three updated units. The building retains architectural character associated with the French Quarter and is currently 100% occupied.
Located at 817 Barracks Street in New Orleans, the property sits within a residential portion of the French Quarter. Armstrong Park, the Rampart Streetcar, and the neighborhood’s walkable attractions are nearby, providing convenient access to established cultural and transportation destinations.
Located at 817 Barracks Street in New Orleans, the property sits within a residential portion of the French Quarter. Armstrong Park, the Rampart Streetcar, and the neighborhood’s walkable attractions are nearby, providing convenient access to established cultural and transportation destinations.
Key Highlights
- 3,320‑square‑foot multifamily property with three updated units
- 100% occupied across the three‑unit configuration
- Historic building constructed in 1900
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
$42,039
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
4.02%
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%
$840,780
$840.8K
Cap Rate 7%
$600,557
$600.6K
Cap Rate 9%
$467,100
$467.1K
Market Conditions
NOI Build-Up for 3,320 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
$65.7K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$60.1K $18.09/SF
− OpEx
−$18.0K −$5.43/SF
NOI
$42.0K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$840,780
Cap Rate 7%
$600,557
Cap Rate 9%
$467,100
Alternative Uses
Best Use
Multifamily LT 5
$600.6K
$525.5K – $700.7K
NOI $42,039 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$552.0K
$483.0K – $644.0K
NOI $38,641 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$843.8K
$738.4K – $984.5K
NOI $59,068 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,585
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with historic character in a walkable French Quarter setting.
Where is this triplex located?
The property is located at 817 BARRACKS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,045,000.
What are key features of this property?
This property features: 3,320‑square‑foot multifamily property with three updated units; 100% occupied across the three‑unit configuration; Historic building constructed in 1900
