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938 Thalia St
New Orleans, LA 70130
Retail Property For Sale
Investment Highlights
- Newly constructed mixed-use property completed in 2023 in the Lower Garden District.
- Fully permitted short-term rental operation on the upper floor with in-place management.
- Ground-floor commercial space suited for retail, office, or hospitality uses.
- Conveniently located minutes from the CBD, surrounded by residential density and neighborhood retail.
Executive Summary
938 Thalia Street offers a newly constructed mixed-use property in the Lower Garden District, providing a blend of modern functionality and historic character. Designed by Studio BKA as part of the Constance & Thalia development, this three-story building features ground-floor commercial space ideal for boutique retail, office, or hospitality concepts. Upper levels include a fully permitted commercial short-term rental operation managed in place, delivering immediate income potential for buyers.
The property is centered around a beautifully designed French Quarter-style courtyard complete with a small dipping pool, creating an authentic New Orleans aesthetic. Premium interior touches such as white oak flooring and generous natural light lend a sense of luxury throughout the building. Its location positions it minutes from the Central Business District, within a thriving residential neighborhood surrounded by local retail and dining options.
This asset presents a compelling opportunity for investors or owner-users to secure a distinctive property in a rapidly appreciating urban submarket. The combination of flexible commercial space and income-producing residential units, together with modern construction and a desirable location, delivers long-term growth potential and operational adaptability.
The property is centered around a beautifully designed French Quarter-style courtyard complete with a small dipping pool, creating an authentic New Orleans aesthetic. Premium interior touches such as white oak flooring and generous natural light lend a sense of luxury throughout the building. Its location positions it minutes from the Central Business District, within a thriving residential neighborhood surrounded by local retail and dining options.
This asset presents a compelling opportunity for investors or owner-users to secure a distinctive property in a rapidly appreciating urban submarket. The combination of flexible commercial space and income-producing residential units, together with modern construction and a desirable location, delivers long-term growth potential and operational adaptability.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,050 SF
Building Class
B
Year Built
2024
Price
$1,800,000
Price Per SF
$444.44
Cap Rate
7.89%
NOI
$142,020
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.45
Lot Size
0.04 AC
Opportunity Zone
Yes
Zoning
HU-MU - HU-MU
Frontage
38’ on Thalia Street
Property Taxes
| Parcel Number | 1-01-1-038-04 | Improvements Assessment | $0 |
| Land Assessment | $3,500 | Total Assessment | $3,500 |
Property Taxes
Parcel Number
1-01-1-038-04
Land Assessment
$3,500
Improvements Assessment
$0
Total Assessment
$3,500
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