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    Clear-Span Industrial Warehouse Title is generated by Realmo AI

    451 S Galvez St, New Orleans, LA 70119

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    For Lease
    $1,000/Mo $1.00 SF/Yr (calc)

    Flexible clear-span warehouse with ground-level roll-up access and off-street parking for distribution, production, or storage.

    Property size:
    12,000 SF
    Added:
    Mar 13, 2026
    Days on Market:
    86
    Last Refresh:
    Jun 6 at 2:41 am

    Property Features for 451 S Galvez St

    General Information

    Standard status
    Active
    Size
    12,000 SF

    We can help!

    Listing Contact
    Timothy Kingsmill

    Listing agent Timothy Kingsmill

    Listing office Fortuna Real Estate LLC

    Listing date Mar 13, 2026

    Source Exprealty

    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 Fortuna Real Estate LLC

    HighLights

    • 12,000 SF clear‑span warehouse space, divisible to fit your needs
    • 2 large ground‑level roll‑up doors for convenient loading and access
    • Secure off‑street parking included
    • Located in New Orleans’ BioDistrict, near downtown with immediate access to I‑10
    • Flexible lease terms, including month‑to‑month, short‑term, long‑term, or custom structures

    Overview

    This offering is a prime clear-span warehouse space designed for efficient operations with an open interior suitable for a wide range of layouts. The space is available as 12,000 SF and can be divided to suit tenant needs, with two large ground-level roll-up doors providing straightforward loading and unloading.

    The property is located in the BioDistrict near downtown, with immediate access to I-10. The surrounding context supports industrial and service-oriented uses, and the site includes secure off-street parking for on-site personnel and logistics.

    The space can work for distribution, light industrial, storage, brewery, creative production, or life sciences support operations, depending on your equipment and workflow. Lease terms are described as flexible, with options ranging from month-to-month to short- and long-term, and the owner indicates that custom structures may be considered. If you need a warehouse with open-span functionality and practical ground-level access, this configuration should be worth reviewing.
    Location Intelligence

    Current Use by Public Records

    Galvez Food Hall Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Dummer's Grain Service — 1100 Poydras St, New Orleans, LA 70163
    • Self Storage — 1340 poydras st, new orleans, la 70112
    • Self Storage — 920 poydras st, new orleans, la 70112
    • Nannybag Luggage Storage — 625 Baronne St, New Orleans, LA 70113
    • The Quality Group — 1100 Poydras St, New Orleans, LA 70163

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0859014
    Latitude
    29.9584271

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    FAQs

    What type of property is this?
    Warehouse - Flexible clear-span warehouse with ground-level roll-up access and off-street parking for distribution, production, or storage.
    Where is this warehouse located?
    The property is located at 451 S Galvez St New Orleans, LA.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: 12,000 SF clear‑span warehouse space, divisible to fit your needs; 2 large ground‑level roll‑up doors for convenient loading and access; Secure off‑street parking included
    (504) 914-3585
    We can help!
    Listing Contact
    Timothy Kingsmill
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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