Mixed-Use Property with
938 Thalia Street New Orleans, LA 70130
938 Thalia Street, New Orleans, LA, 70130
$1,800,000
For Sale
$1,800,000
Newly constructed mixed-use building with flexible ground-floor commercial space and a permitted short-term rental on the second floor.
Property Size3,906 SF
Price / SF$460.83
Days on Market91
Property Features for 938 Thalia Street
General Information
- Standard status
- Active
- Size
- 3,906 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2023
Listing agency
The McEnery Company
(318) 218-4860
Listed by
Scott Weston · License #995684661
(318) 218-4860
Source
Compass
Added: Apr 22 Updated: Jul 21 at 4:49AM Checked: Jul 21 at 4:49AM
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 The McEnery Company
Investment Insights
Based on property information with market context.
938 Thalia Street is a newly constructed mixed-use property built as part of Constance & Thalia. The ground floor provides flexible commercial space suited for boutique retail, office, or hospitality use. The second floor includes a fully permitted commercial short-term rental with in-place management.
The building centers on a French Quarter style courtyard highlighted by a small dipping pool. Upper-level interiors include elevated finishes such as white oak flooring and abundant natural light, and select units offer views toward downtown New Orleans.
The property is positioned for access to nearby employment and amenities, described as just minutes from the CBD, and is surrounded by strong residential density and neighborhood retail.
The building centers on a French Quarter style courtyard highlighted by a small dipping pool. Upper-level interiors include elevated finishes such as white oak flooring and abundant natural light, and select units offer views toward downtown New Orleans.
The property is positioned for access to nearby employment and amenities, described as just minutes from the CBD, and is surrounded by strong residential density and neighborhood retail.
Key Highlights
- Newly constructed 3‑story mixed‑use building built in 2023
- French Quarter‑style courtyard with a small dipping pool
- Ground floor includes flexible commercial space for retail, office, or hospitality use
Local Financial Insights For Mixed Use
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 | $93.7k | $24.00 |
| − Vacancy | −$9.4k | −$2.40 |
| EGI | $84.4k | $21.60 |
| − OpEx | −$31.6k | −$8.10 |
| NOI | $52.7k | $13.50 |
3,906 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$753.3K
$659.1K – $878.9K
NOI $52,731 @ 7.0% cap · market cap 2.93%
Second Best
Retail
$689.0K
$602.9K – $803.9K
NOI $48,231 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$992.8K
$868.7K – $1.16M
NOI $69,494 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Newly constructed mixed-use building with flexible ground-floor commercial space and a permitted short-term rental on the second floor.
Where is this mixed-use property located?
The property is located at 938 Thalia Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Newly constructed 3‑story mixed‑use building built in 2023; French Quarter‑style courtyard with a small dipping pool; Ground floor includes flexible commercial space for retail, office, or hospitality use
