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    Property profile & analytics

    7710 Coronet Ct New Orleans, LA 70126

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0178660
    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

    • Commercial real estate

    Property Details for 7710 Coronet Ct

    Year built
    1977
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a fully renovated 12-unit apartment complex situated at 7710-60 North Coronet Court in New Orleans, Louisiana. The property boasts three two-story buildings, each housing four units, totaling 15,156 net rentable square feet on a 21,018 square foot lot. Constructed in 1977 and extensively renovated in 2022, this Class B multifamily property offers a compelling blend of established income and future growth potential. Each of the twelve units features approximately 1,263 square feet of living space, including three bedrooms and 2.5 bathrooms. Currently operating at 85% occupancy, the property generates a substantial net operating income (NOI) of $94,041, exceeding the 1% rule with a current monthly income surpassing $13,000. The pro-forma NOI is projected at $123,877, reflecting a potential for increased profitability. The asking price is $1,165,000, representing a current cap rate of 8.07% and a pro-forma cap rate of 10.63%. Seller financing is available. This stabilized investment presents a rare opportunity in the New Orleans East market, given the scarcity of comparable fully renovated three-bedroom, 2.5-bathroom apartments. The property's strong cash flow and high demand make it an ideal addition to any multifamily portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.00112212407
    Latitude
    30.025834998192

    Comparable in this City

    • $300,000
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      Turnkey Duplex in New Orleans

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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rental income.
      7751 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7741 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7731 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7771 S Coronet Ct, New Orleans, LA 70126
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    • $345,000
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      New Orleans Duplex: Investor Opportunity

      Turnkey duplex near French Quarter with strong income potential.
      3304 Metropolitan St, New Orleans, LA 70126
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    Similar Nearby for Sale

    • $300,000
      3,300 SF

      Turnkey Duplex in New Orleans

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    • $345,000
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      New Orleans Duplex: Investor Opportunity

      Turnkey duplex near French Quarter with strong income potential.
      3304 Metropolitan St, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rental income.
      7751 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7741 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7731 S Coronet Ct, New Orleans, LA 70126
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    • $260,000
      4,000 SF

      New Orleans Fourplex Investment Opportunity

      Fourplex in New Orleans, generating $4,400 monthly rent.
      7771 S Coronet Ct, New Orleans, LA 70126
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo

      Well-Maintained New Orleans East Duplex

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    • $19 SF/Yr
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      Gentilly Retail Space Sublease Opportunity

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    • $18 SF/Yr
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      Retail Space Sublease Opportunity

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    • $2,000 /Mo
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      Retail Space in Bustling Corridor

      Versatile commercial property with high visibility and traffic.
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    • $8 SF/Yr
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      Freestanding Retail Building For Rent

      Freestanding retail building with ample parking and easy highway access.
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    7710 Coronet Ct
    New Orleans, LA 70126
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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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