Redevelopment Opportunity with Tax
934 Canal Street New Orleans, LA 70112
For Sale
$3,260,000
Redevelopment opportunity with historic tax credits in New Orleans.
Property Size13,440 SF
Price / SF$242.56
Days on Market248
Property Features for 934 Canal Street
General Information
- Standard status
- Active
- Size
- 13,440 SF
- Property subtype
- Retail
Listing Agency:
(504) 909-7351
Listed By:
Duff Friend
(504) 909-7351
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Jul 6
Last Checked: Jul 26 at 7:08AM
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 Duff Friend
Investment Insights
Based on property information with market context.
This is a redevelopment opportunity located on Canal Street in New Orleans. The property, which is eligible for federal and state tax credits, offers approximately 13,440 square feet of space and has potential for a penthouse addition. Construction plans are included for 1,600 square feet of ground floor retail space and 7 apartments. The interior has been gutted and abated. Construction permits are in place, and DDD grants have been approved. The property is zoned CBD-2 and is licensed and permitted as a hotel. National Park Service Part 1 & Part 2 have been completed.
Key Highlights
- Redevelopment opportunity with historic tax credits
- Federal and state tax credit eligible
- Construction permit in place
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $241.9k | $18.00 |
| − Vacancy | −$4.8k | −$0.36 |
| EGI | $237.1k | $17.64 |
| − OpEx | −$71.1k | −$5.29 |
| NOI | $166.0k | $12.35 |
13,440 SF · lease $18.00/SF/yr · vacancy 2.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.37M
$2.07M – $2.77M
NOI $165,957 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$2.23M
$1.96M – $2.61M
NOI $156,426 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,120 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Retail space - Redevelopment opportunity with historic tax credits in New Orleans.
Where is this retail space located?
The property is located at 934 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $3,260,000.
What are key features of this property?
This property features: Redevelopment opportunity with historic tax credits; Federal and state tax credit eligible; Construction permit in place
