Brick Mixed-Use
For Sale
$3,999,999
941 LAFAYETTE Street, New Orleans, LA 70113
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 Market66
Property Features for 941 LAFAYETTE Street
General Information
Standard status
Active
Size
27,000 SF
Building Details
Building Size
27,000 SF
Year Built
1912
Stories
3
Construction
brick
Listing Agency:
Compass Mandeville
Listed By:
John Romano
(985) 502-6913
Source:
Talbot-realty
Added: Jun 29
Changed: Aug 25
Last Checked: Sep 2 at 1:12PM
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
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
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$364,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,290,000
$7.3M
Cap Rate 7%
$5,207,143
$5.2M
Cap Rate 9%
$4,050,000
$4.1M
Market Conditions
NOI Build-Up for 27,000 SF
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.
Gross rent
$648.0K $24.00/SF
− Vacancy
−$64.8K −$2.40/SF
EGI
$583.2K $21.60/SF
− OpEx
−$218.7K −$8.10/SF
NOI
$364.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,290,000
Cap Rate 7%
$5,207,143
Cap Rate 9%
$4,050,000
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 authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,907
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
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 Street 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
