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    Elmwood Park Office Spaces Available Title is generated by Realmo AI

    824 Elmwood Park Blvd, Harahan, LA 70123

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    Renovated office suites with included utilities and amenities for lease.

    Type:Office
    Added:
    Nov 1, 2021
    Days on Market:
    1677
    Last Refresh:
    May 12 at 8:12 pm

    Property Features for 824 Elmwood Park Blvd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 824 Elmwood Park Blvd Contact us

    Suite 200 $21/Mo

    Size
    3,138 SF
    Type
    Office
    $21.5/SF/Year
    Contact us

    Suite 105 $21/Mo

    Size
    1,392 SF
    Type
    Office
    Contact us

    We can help!

    Listing Contact
    Arthur Sterbcow

    Listing office Arthur Sterbcow

    Listing date Nov 1, 2021

    Source Crexi

    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 Arthur Sterbcow

    HighLights

    • All Utilities and Janitorial Included; No pass through expenses or CAM charges.
    • Enjoy free after‑hours AC and Heat (24/7/365).
    • Free Use of 600 Sq. Ft. Training / Conference / Meeting Room With Seating for 35 and Wi‑fi.
    • Plenty of Free Parking on All 4 Sides of the Building; 250 Parking Spaces - the Most in the Area.
    • Suites Have Been Renovated and are immediately available.
    • Spectacular Atrium‑style Office Building With Exotic Gardens, Ponds, Fountains, Walking Paths, and Artwork.

    Overview

    Office spaces are available for lease in the Elmwood Business Park. This LoopNet rated 4-star building includes all utilities and janitorial services. There are no pass-through expenses or CAM charges. The property features 250 parking spaces. The atrium-style office building includes gardens, ponds, fountains, walking paths, and artwork. The location provides access to the West Bank of New Orleans and the Greater New Orleans area. Renovated suites are immediately available. Tenants have free use of a 600 sq. ft. training/conference/meeting room with seating for 35 and Wi-fi. Free Wi-fi is available for all tenants and guests. The building has three separate entrances. The location provides access to all parts of New Orleans, CBD, and the airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    one touch flooring Home Decor Store RC Health Services ... Training Center The Big Easy Termite ... Garden Center Louisiana Council Of Resources Association Or Organization DiGiovanni Construction Co., ... Construction Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Harahan
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.1873435
    Latitude
    29.9558459

    Nearby Similar for Lease

    • $1,800/Mo
      1,392 SF

      Harahan Commercial Space For Lease

      Commercial space in Harahan with high visibility and parking.
      6485 JEFFERSON Highway, Harahan, LA 70123
      View Details
    • $10 SF/Yr
      36,096 SF

      Jefferson Highway Retail Opportunity

      32,177 SF available in renovated shopping center.
      6005 Jefferson Hwy, Harahan, LA 70123
      View Details

    FAQs

    What type of property is this?
    Office building - Renovated office suites with included utilities and amenities for lease.
    Where is this office building located?
    The property is located at 824 Elmwood Park Blvd Harahan, LA.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: All Utilities and Janitorial Included; No pass through expenses or CAM charges.; Enjoy **free after‑hours AC and Heat (24/7/365)**.; **Free Use of 600 Sq. Ft. Training / Conference / Meeting Room With Seating for 35 and Wi‑fi.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Arthur Sterbcow
    Real Estate License ID: BROK.07851.A-ACT
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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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