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    2623 Canal St New Orleans, LA 70119

    Sponsored
    For Sale
    $750,000

    Prime New Orleans location, high-traffic area.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This exceptional 0.2-acre commercial land parcel presents a remarkable development opportunity in the heart of New Orleans. Located at 2623, 2625, and 2629 Canal Street, this property boasts 113 feet of frontage on the iconic Canal Street and approximately 157 feet of depth. Its strategic position adjacent to the bustling intersection of Canal and Broad Streets ensures high visibility and accessibility. The property comprises three parcels totaling approximately 17,748 square feet. The HU-MU zoning designation allows for a diverse range of uses, including medical facilities, restaurants, office spaces, and residential developments, providing significant flexibility for potential investors. This prime location, combined with the versatile zoning and substantial lot size, makes this an unparalleled investment prospect in a vibrant and rapidly growing market. All offers are subject to the approval of the Walgreens Real Estate Committee. The asking price for this exceptional property is $750,000, representing a land value of $1,840,771 per acre. This presents a unique chance to acquire a significant piece of New Orleans real estate in a highly desirable area.

    Property Features for 2623 Canal St

    General Information

    Property type
    Land
    Lot Size
    8,712 SF

    HighLights

    • 0.2‑acre commercial land parcel in prime New Orleans location.
    • 113' of frontage on Canal Street and approximately 157' deep.
    • Three parcels totaling approximately 17,748 square feet.
    • HU‑MU zoning allows for diverse uses including medical, restaurant, office, and residential.
    • Asking price: $750,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.0854532
    Latitude
    29.9644093

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    FAQs

    What type of property is this?
    Land - Prime New Orleans location, high-traffic area.
    Where is this land located?
    The property is located at 2623 Canal St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 0.2-acre commercial land parcel in prime New Orleans location.; 113' of frontage on Canal Street and approximately 157' deep.; Three parcels totaling approximately 17,748 square feet.
    Request Owner's contact information
    2623 Canal St New Orleans, LA 70119
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    New Orleans, LA 70119
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    Realmo Value Estimation

    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.

    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.

    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
    2623 Canal St New Orleans, LA 70119
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