Uptown Commercial Building For
For Sale
$700,000
731 Nashville Ave, New Orleans, LA 70115
Free-standing commercial building near Magazine Street and Nashville Avenue.
Property Size2,170 SF
Price / SF$322.58
Days on Market1131
Property Features for 731 Nashville Ave
General Information
Standard status
Active
Size
2,170 SF
Total Parking Spaces
2
Property subtype
Office
Zoning
HU-B1
Amenities
2 Parking Spaces
Listing Agency:
Stirling New Orleans
Listed By:
Lauren Ryan · License #0995687525
(504) 620-8124
Source:
Lacdb.resimplifi
Added: Sep 12, 2023
Changed: Oct 1
Last Checked: Oct 16 at 5:41AM
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 Stirling New Orleans
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This free-standing commercial building is located one lot from the intersection of Magazine Street and Nashville Avenue in Uptown. The property includes two off-street parking spaces and a backyard, offering the potential for building expansion. A portion of the attic has been finished, providing additional space not included in the listed square footage. The property is zoned HU-B1, which allows for multiple uses. The building has a size of 2474 square feet.
Key Highlights
- Prime Uptown location, just one lot from the Magazine Street and Nashville Avenue intersection.
- HU‑B1 zoning allows for multiple uses.
- Free‑standing commercial building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,517
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,340
$510.3K
Cap Rate 7%
$364,529
$364.5K
Cap Rate 9%
$283,522
$283.5K
Market Conditions
NOI Build-Up for 2,170 SF
Gross rent
$38.5K $17.76/SF
− Vacancy
−$4.5K −$2.08/SF
EGI
$34.0K $15.68/SF
− OpEx
−$8.5K −$3.92/SF
NOI
$25.5K $11.76/SF
Area
ZIP 70115
Vacancy
11.72%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,340
Cap Rate 7%
$364,529
Cap Rate 9%
$283,522
Alternative Uses
Best Use
Office B
$364.5K
$319.0K – $425.3K
NOI $25,517 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$270.5K
$236.7K – $315.6K
NOI $18,935 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$572.5K
$501.0K – $667.9K
NOI $40,076 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in New Orleans, LA
Frequently Asked Questions
What type of property is this?
Retail property - Free-standing commercial building near Magazine Street and Nashville Avenue.
Where is this retail property located?
The property is located at 731 Nashville Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Prime Uptown location, just one lot from the Magazine Street and Nashville Avenue intersection.; HU‑B1 zoning allows for multiple uses.; Free‑standing commercial building.
