Contemporary Mixed-Use
For Sale
$1,800,000
938 THALIA Street, New Orleans, LA 70130
Multi-Family, Contemporary, New Orleans, LA
Property Size3,906 SF
Price / SF$460.83
Days on Market187
Property Features for 938 THALIA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Regular
Standard status
Active
APN
938-THALIAST
Size
3,906 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
courtyard
dipping pool
Building Details
Year built
2023
Floors in Building
3
Number of units
2
Roof type
Metal
Architectural style
Contemporary
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Scott Weston
(318) 218-4860
Added: Apr 22
Changed: Sep 16
Last Checked: Oct 25 at 9:06PM
MLS# 2554409
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this 3,906-square-foot contemporary mixed-use property combines a flexible commercial area on the ground floor with a fully permitted commercial short-term rental operation above. The lower level can accommodate retail, office, or hospitality use, while upper units feature white oak flooring, abundant natural light, and select views toward downtown New Orleans. Central heating and central air serve the building, which also has a metal roof and public water service.
A French Quarter-style courtyard with a small dipping pool adds a shared outdoor feature. The property is located at 938 Thalia Street in New Orleans’ Lower Garden District, near the CBD and neighborhood retail. In-place management is associated with the commercial short-term rental component.
A French Quarter-style courtyard with a small dipping pool adds a shared outdoor feature. The property is located at 938 Thalia Street in New Orleans’ Lower Garden District, near the CBD and neighborhood retail. In-place management is associated with the commercial short-term rental component.
Key Highlights
- 3,906 SF mixed‑use property at 938 Thalia Street
- Built in 2023 with contemporary architectural design
- Ground‑floor commercial space supports retail, office, or hospitality use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,731
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,620
$1.1M
Cap Rate 7%
$753,300
$753.3K
Cap Rate 9%
$585,900
$585.9K
Market Conditions
NOI Build-Up for 3,906 SF
Gross rent
$93.7K $24.00/SF
− Vacancy
−$9.4K −$2.40/SF
EGI
$84.4K $21.60/SF
− OpEx
−$31.6K −$8.10/SF
NOI
$52.7K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,620
Cap Rate 7%
$753,300
Cap Rate 9%
$585,900
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 authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - New construction combines flexible commercial space with a permitted short-term rental component and courtyard amenities.
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: 3,906 SF mixed‑use property at 938 Thalia Street; Built in 2023 with contemporary architectural design; Ground‑floor commercial space supports retail, office, or hospitality use
