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    Property profile & analytics

    209 Broad St New Orleans, LA 70119-5507

    • Office buildings
    • 4,160 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Mar 28, 2024
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0714714
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Empowerment Behavioral Services / Social Worker
    • The General / Auto Insurance Agency / Insurance Agency
    • Crescent School Gaming and Bartending / Casino / Gambling Instructor
    • HireQuest Direct of New Orleans / Employment Agency
    • A Priority One Rent-A-Car / Car Rental Agency

    Property Details for 209 Broad St

    Year built
    1960
    Lot size
    0.13 lot acres
    Property size
    4,160 SF
    Property type
    Office buildings
    APN
    206204235
    APU
    206204235

    Description

    This exceptional two-story, 4,160 square foot office building presents a unique investment or leasing opportunity in New Orleans' vibrant Mid-City neighborhood. Located at 209 N. Broad Street, this property boasts high visibility across from Whole Foods Market and is surrounded by a mix of local and national businesses. The building features two suites, with a minimum divisible space of 2,100 square feet and a maximum contiguous space of 4,160 square feet. The ground floor is currently available for lease, while the second-floor tenant is on a month-to-month lease, offering flexibility for potential buyers or lessees. The entire building is also available for sale. Tenants and buyers will benefit from the convenient location between downtown New Orleans and City Park, just two blocks from the streetcar line. The property includes a 5,568 square foot lot and offers 10 off-street parking spaces in the rear. The building is zoned HU-MU in Orleans Parish, Louisiana, and offers a compelling opportunity for businesses seeking a prominent location in a thriving area. This mixed-use property is ideal for a variety of businesses seeking high visibility and convenient access to major thoroughfares and public transportation. The building's size and layout provide flexibility for various business needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $223,000
      Market price range: $152k - $439k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0867
    Latitude
    29.967
    CBSA code
    35380
    CBSA name
    NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $8,350
    $34,730
    $43,080
    -
    $83,500
    $231,500
    $315,000

    Comparable in this City

    • Value Estimation
      $210,000
      4,218 SF

      621 Carrollton Ave

      OFFICE BUILDING • 4,218 SF
      621 Carrollton Ave, New Orleans, LA 70119-4706
      View Details
    • Value Estimation
      $205,000
      4,710 SF

      600 Carrollton Ave

      OFFICE BUILDING • 4,710 SF
      600 Carrollton Ave, New Orleans, LA 70119-4707
      View Details
    • Value Estimation
      $210,000
      4,797 SF

      636 Carrollton Ave

      OFFICE BUILDING • 4,797 SF
      636 Carrollton Ave, New Orleans, LA 70119-4707
      View Details
    • Value Estimation
      $210,000
      3,488 SF

      4621 Carrollton Ave

      OFFICE BUILDING • 3,488 SF
      4621 Carrollton Ave, New Orleans, LA 70119
      View Details
    • Value Estimation
      $210,000
      2,740 SF

      4637 Carrollton Ave

      OFFICE BUILDING • 2,740 SF
      4637 Carrollton Ave, New Orleans, LA 70119-6024
      View Details
    • Value Estimation
      $210,000
      1,596 SF

      2317 Esplanade Ave

      OFFICE BUILDING • 1,596 SF
      2317 Esplanade Ave, New Orleans, LA 70119-2501
      View Details

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    Similar Nearby for Lease

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    • $1,400 /Mo
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      New Orleans Commercial Space For Rent

      Commercial space in high-traffic area suitable for various businesses.
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    • $16 SF/Yr
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      Mid-City Office Space Available

      New Orleans Office: 800-2,091 SF
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    • $925,000
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      Versatile Office/Warehouse Near I-10

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      View Details
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    New Orleans, LA 70119-5507
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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.

    More about this property
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