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    824 Elmwood Park Blvd Elmwood, LA 70123

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    For Lease
    Contact for pricing

    Prime Elmwood Office Space Available

    Lot size:
    46,614 SF

    Property Features for 824 Elmwood Park Blvd

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    46,614 SF
    Class
    A
    Total Rate
    87401.25

    Building Details

    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 824 Elmwood Park Blvd, Elmwood, LA 70123 Contact us
    Unit Suite: 145

    $22 /Mo

    Size
    810 SF
    Contact us
    Unit Suite 155

    $22 /Mo

    Size
    1,586 SF
    Contact us

    We can help!

    Listing Contact
    Judith Slack
    Judith Slack

    Listing Agency: Latter & Blum Inc./Realtors Listing Agent: Judith Slack

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This Class A, two-story office building in Harahan, LA (70123), offers 46,614 square feet of space, with 5,522 square feet currently vacant. Suites range from 810 to 1,979 contiguous square feet, perfect for various business needs. The building boasts 250 parking spaces, one elevator, and three separate entrances for convenient access. Amenities include a spectacular atrium with gardens and fountains, a free 600 sq ft training/conference room with seating for 35 and Wi-Fi, and free Wi-Fi throughout the building. All utilities and janitorial services are included, with no pass-through expenses or CAM charges. The building is located at 824 Elmwood Park Blvd, near Mounes Street, in the Elmwood submarket of the New Orleans area, offering easy access to the West Bank and the entire Greater New Orleans area, including the CBD and airport. The property is zoned for commercial office use (APN: JP-29744) and features renovated suites ready for immediate occupancy. After-hours heating and cooling are included at no extra charge.
    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
    Elmwood
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.186898070232
    Latitude
    29.955927925813

    Nearby Similar for Lease

    • $7 SF/Yr
      15,700 SF

      Elmwood Warehouse: 15,700 SF

      Prime Elmwood industrial space; immediate occupancy.
      1235 Sams Ave, Elmwood, LA 70123
      View Details
    • Contact for pricing
      411,689 SF

      Elmwood Retail Center Opportunity

      Prime Elmwood retail space, flexible layouts.
      5600 Jefferson Hwy, Elmwood, LA 70123
      View Details
    • $10 SF/Yr
      102,209 SF

      Jefferson Business Center Warehouse

      Elmwood, LA industrial warehouse space for lease.
      520 Elmwood Park Blvd, Elmwood, LA 70123
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Elmwood Office Space Available
    Where is this office property / space located?
    The property is located at 824 Elmwood Park Blvd Elmwood, LA.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    (504) 525-1311 Call to check price and availability
    Request Owner's contact information
    824 Elmwood Park Blvd Elmwood, LA 70123
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    Elmwood, LA 70123
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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
    824 Elmwood Park Blvd Elmwood, LA 70123
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Judith Slack
    Judith Slack
    Real Estate License ID: BROK.0000010057.A-ASA
    (504) 525-1311
    Learn more
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