Flexible Live-Work
New
For Sale
$299,000
917 Hickory Ave, Harahan, LA 70123
Three-bedroom layout includes a bonus room suited to office use and a combination residential-commercial configuration.
Property Size1,697 SF
Price / SF$176.19
Days on Market2
Property Features for 917 Hickory Ave
General Information
Standard status
Active
Size
1,697 SF
Zoning
C2
Building Details
Year Built
1950
Listing Agency:
RE/MAX N.O. Properties
Listed By:
Jill Wren · License #000071771
(504) 864-2336
Source:
Fiorellaavenue
Added: Sep 12
Last Checked: Sep 12 at 2:46PM
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 RE/MAX N.O. Properties
Investment Insights
Based on property information with market context.
This live-work property in Harahan presents a flexible layout with three bedrooms, two full bathrooms, and a bonus room identified for office use. The property can accommodate either residential or commercial occupancy, providing a configuration suited to a range of live-work arrangements and small-business applications.
Constructed in 1950, the property is located at 917 Hickory Ave in Harahan, Louisiana. C2 zoning is in place, and the existing floor plan combines residential-style rooms with space that can function as an office. The address is within the 70123 ZIP code.
Constructed in 1950, the property is located at 917 Hickory Ave in Harahan, Louisiana. C2 zoning is in place, and the existing floor plan combines residential-style rooms with space that can function as an office. The address is within the 70123 ZIP code.
Key Highlights
- Three‑bedroom, two‑bathroom layout
- Bonus room suited to office use
- C2 zoning
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
$23,617
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
7.90%
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%
$472,340
$472.3K
Cap Rate 7%
$337,386
$337.4K
Cap Rate 9%
$262,411
$262.4K
Market Conditions
NOI Build-Up for 1,697 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
$37.3K $21.96/SF
− Vacancy
−$5.8K −$3.40/SF
EGI
$31.5K $18.56/SF
− OpEx
−$7.9K −$4.64/SF
NOI
$23.6K $13.92/SF
Area
ZIP 70123
Vacancy
15.50%
Lease Rate
$21.96 /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%
$472,340
Cap Rate 7%
$337,386
Cap Rate 9%
$262,411
Alternative Uses
Best Use
Office B
$337.4K
$295.2K – $393.6K
NOI $23,617 @ 7.0% cap · market cap 7.90%
Second Best
Mixed Use
$294.6K
$257.7K – $343.7K
NOI $20,619 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$435.3K
$380.9K – $507.9K
NOI $30,473 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Three-bedroom layout includes a bonus room suited to office use and a combination residential-commercial configuration.
Where is this live-work space located?
The property is located at 917 Hickory Ave Harahan, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom layout; Bonus room suited to office use; C2 zoning
