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Property profile

619-621 Carondelet St New Orleans, LA 70113

OFF-MARKET
Retail properties & Spaces
26,700 SF 0.37 ac lot
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Property summary

AI-generated overview

This exceptional New Orleans commercial property, located at 619-621 Carondelet Street, offers 26,700 square feet across two interconnected, two-story buildings. Priced at $5,200,000 ($194.76/sq ft), this Class B property sits on a 0.37-acre lot in the vibrant Warehouse District, directly across from The Barnett Hotel and two blocks from the South Market District. The main building, a historically significant Early Greek Revival structure dating back to 1853, features a large auditorium and a smaller kitchen/dining hall. An annex building was added in the 1970s. The property boasts a prime location with high foot traffic and streetcar access, offering excellent visibility. Currently leased month-to-month to an international experiential retail operator, this property presents a unique opportunity for redevelopment or repositioning into various commercial uses, including retail, hospitality, office, or mixed-use spaces. Its proximity to major hotels, museums, entertainment venues (including the Superdome and Smoothie King Arena), and the French Quarter ensures high demand and potential for significant returns. The property is zoned CBD-5 and underwent renovations in 2022. This is a rare chance to acquire a piece of New Orleans history with significant upside potential.

Property profile

Verified
Property type Retail properties & Spaces
Total area 26,700 SF
Lot 0.37 ac (16,117 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

619-621 Carondelet St New Orleans, LA 70113
New Orleans metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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