Redevelopment Opportunity with Tax
For Sale
$3,260,000
934 Canal Street, New Orleans, LA 70112
Redevelopment opportunity with historic tax credits in New Orleans.
Property Size13,440 SF
Price / SF$242.56
Days on Market339
Property Features for 934 Canal Street
General Information
Standard status
Active
Size
13,440 SF
Property subtype
Retail
Site & Location
Neighborhood
Central Business District
Building Details
Building Size
13,440 SF
Listed By:
Duff Friend
(504) 909-7351
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Oct 25
Last Checked: Oct 24 at 3:46PM
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 Duff Friend
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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
Estimated NOI and Cap Rate
NOI / Yr
$165,957
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,319,140
$3.3M
Cap Rate 7%
$2,370,814
$2.4M
Cap Rate 9%
$1,843,967
$1.8M
Market Conditions
NOI Build-Up for 13,440 SF
Gross rent
$241.9K $18.00/SF
− Vacancy
−$4.8K −$0.36/SF
EGI
$237.1K $17.64/SF
− OpEx
−$71.1K −$5.29/SF
NOI
$166.0K $12.35/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,319,140
Cap Rate 7%
$2,370,814
Cap Rate 9%
$1,843,967
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
11,352
Businesses Nearby
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Business Placement
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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
