Brick Mixed-Use
941 Lafayette St New Orleans, LA 70113
For Sale
$3,999,999
Three-story brick building with approximately 27,000 square feet, positioned for mixed-use or redevelopment uses.
Property Size27,000 SF
Price / SF$148.15
Days on Market25
Property Features for 941 Lafayette St
General Information
- Standard status
- Active
- Size
- 27,000 SF
Listing Agency:
Compass Mandeville (COMP15)
(985) 502-6913
Listed By:
John Romano
(985) 502-6913
Source:
Exprealty
Added: Jun 29
Changed: Jul 22
Last Checked: Jul 22 at 11:09AM
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 Compass Mandeville (COMP15)
Investment Insights
Based on property information with market context.
This three-story brick building offers approximately 27,000 square feet of space and is presented for redevelopment. The property is described as suitable for mixed-use purposes or other commercial/residential redevelopment plans, offering flexibility for an appropriate buyer or development team.
The building is located one block from Poydras Street and the Caesars Superdome, placing it within the South Market District area per the remarks provided.
As offered for sale, the asset is positioned as a redevelopment opportunity, with the existing structure serving as the base for a tenanting and/or renovation strategy.
The building is located one block from Poydras Street and the Caesars Superdome, placing it within the South Market District area per the remarks provided.
As offered for sale, the asset is positioned as a redevelopment opportunity, with the existing structure serving as the base for a tenanting and/or renovation strategy.
Key Highlights
- Three‑story brick building with approximately 27,000 SF
- Positioned for mixed‑use or commercial/residential redevelopment
- Located about one block from Poydras Street
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 | $648.0k | $24.00 |
| − Vacancy | −$64.8k | −$2.40 |
| EGI | $583.2k | $21.60 |
| − OpEx | −$218.7k | −$8.10 |
| NOI | $364.5k | $13.50 |
27,000 SF · lease $24.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$5.21M
$4.56M – $6.08M
NOI $364,500 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.86M
$6.00M – $8.01M
NOI $480,375 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walter W Eckert ...
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Mixed-use property - Three-story brick building with approximately 27,000 square feet, positioned for mixed-use or redevelopment uses.
Where is this mixed-use property located?
The property is located at 941 Lafayette St New Orleans, LA.
What is the asking price?
The asking price for this property is $3,999,999.
What are key features of this property?
This property features: Three‑story brick building with approximately 27,000 SF; Positioned for mixed‑use or commercial/residential redevelopment; Located about one block from Poydras Street
