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2638 New Orleans St
New Orleans, LA 70119
Retail Property For Sale


Executive Summary
One property, four income streams, endless opportunity. Prime investment opportunity Located in the 7th w/d featuring both income-producing and value-add potential. Liquor License. The ground floor commercial space was previously operating as a bar with rental income of $1,600/month,
This versatile space includes two bathrooms and a full kitchen, easy conversion into a restaurant or other food/beverage concept. Upstairs, you’ll find two 2-bedroom, 1-bath units—both in need of renovation—each with a projected rental income of $1,375/month after updates. Additionally, the property includes a separate 1-bedroom studio unit in a stand-alone house, potential rent $1,000/month -need renovations. With multiple income streams and opportunities to increase rental rates, this property is investors looking to maximize returns in a sought-after location.
This versatile space includes two bathrooms and a full kitchen, easy conversion into a restaurant or other food/beverage concept. Upstairs, you’ll find two 2-bedroom, 1-bath units—both in need of renovation—each with a projected rental income of $1,375/month after updates. Additionally, the property includes a separate 1-bedroom studio unit in a stand-alone house, potential rent $1,000/month -need renovations. With multiple income streams and opportunities to increase rental rates, this property is investors looking to maximize returns in a sought-after location.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,151 SF
Building Class
C
Year Built
1940
Price
$350,000
Price Per SF
$84.32
Cap Rate
12.86%
NOI
$45,000
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.36
Lot Size
0.07 AC
Zoning
HU-RD2
Frontage
106’ on Hope Street
Amenities
- Corner Lot
Property Taxes
| Parcel Number | 3-7W-2-129-12 | Improvements Assessment | $21,930 |
| Land Assessment | $2,420 | Total Assessment | $24,350 |
Property Taxes
Parcel Number
3-7W-2-129-12
Land Assessment
$2,420
Improvements Assessment
$21,930
Total Assessment
$24,350
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