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    Medical Building Near Ochsner Baptist Title is generated by Realmo AI

    2633 Napoleon Ave, New Orleans, LA 70115

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    Class-A medical office building with planned improvements and amenities.

    Type:Office
    Added:
    Aug 12, 2024
    Days on Market:
    660
    Last Refresh:
    May 12 at 10:02 pm

    Property Features for 2633 Napoleon Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 2633 Napoleon Ave Contact us

    Suite 702 $27/Mo

    Size
    1,100 SF
    Type
    Office
    Seventh floor office space
    Contact us

    Suite 707 $25/Mo

    Size
    4,727 SF
    Type
    Office
    Seventh floor office space
    Contact us

    Suite 530 $25/Mo

    Size
    4,425 SF
    Type
    Office
    Fifth Floor space
    Contact us

    Suite 701 $27/Mo

    Size
    1,900 SF
    Type
    Office
    Contact us

    Suite 809 $27/Mo

    Size
    2,338 SF
    Type
    Office
    Contact us

    Suite 800 $25/Mo

    Size
    3,344 SF
    Type
    Office
    Eighth floor office space
    Contact us

    Suite 815 $27/Mo

    Size
    1,114 SF
    Type
    Office
    Eighth floor office space
    Contact us

    Suite 600 $27/Mo

    Size
    2,707 SF
    Type
    Office
    Sixth floor office space
    Contact us
    Show more

    We can help!

    Listing Contact
    Matt Eaton

    Listing agent Matt Eaton License #LA 0000072493

    Listing office Southeast Commercial Real Estate

    Listing date Aug 12, 2024

    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 Southeast Commercial Real Estate

    HighLights

    • Class‑A medical office building directly across from Ochsner Baptist
    • Ample parking with 129 surface spaces and 79 covered spaces
    • Ongoing renovations to common areas, front entrance, and drive area improving accessibility and aesthetics
    • Onsite management
    • Easy access across the city via South Claiborne Avenue (US‑90)
    • Suited for a variety of medical office services (dentistry, plastic surgery, etc.)

    Overview

    The Napoleon Medical Building is a Class-A office building and outpatient medical facility situated across the street from Ochsner Baptist in Uptown New Orleans. Construction has commenced on common areas throughout the building, along with a complete redesign of the front entrance and drive area. This includes concrete work aimed at improving accessibility, aesthetics, and traffic flow. The property offers ample parking, including 129 surface spaces and 79 covered spaces. It also provides convenient access across the city via South Claiborne Avenue (US-90). A new deli/sundry shop is planned to open in early 2026. These spaces are suitable for various medical office services, including dentistry, plastic surgery, cardiology, physical therapy, internal medicine, dermatology, orthopedics, and hearing clinics. The property features on-site management.
    Property Profile Location Intelligence

    Current Use by Public Records

    Uptown Endodontics Dental Office Connell Family Dentistry Dental Office NOLA Smiles Dental ... Dental Office Dr. Brian D. ... Dental Office George H. Arch ... Dental Office

    Suggested Use

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

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

    Similar Places Nearby

    • Metairie Small Animal Hospital - Freret Clinic — 4525 Freret St, New Orleans, LA 70115

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.102825
    Latitude
    29.9369189

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    FAQs

    What type of property is this?
    Medical Office Space - Class-A medical office building with planned improvements and amenities.
    Where is this medical office space located?
    The property is located at 2633 Napoleon Ave New Orleans, LA.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Class‑A medical office building directly across from Ochsner Baptist; Ample parking with 129 surface spaces and 79 covered spaces; Ongoing renovations to common areas, front entrance, and drive area improving accessibility and aesthetics
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Eaton
    Real Estate License ID: LA 0000072493
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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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