Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3401 Tulane Ave New Orleans, LA 70119-7141

    • Office buildings
    • 11,247 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0227249
    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

    • Poree's Embroidery and School Uniforms (Mid-City) / Screen Printer / Uniform Store
    • Russell's Cleaning Services / Dry Cleaner

    Property Details for 3401 Tulane Ave

    Year built
    1930
    Lot size
    0.10 lot acres
    Property size
    11,247 SF
    Property type
    Office buildings
    APN
    105300501
    APU
    105300501

    Description

    This exceptional three-story, 10,830 square foot mixed-use building is situated on a 4,356 square foot lot at the highly visible intersection of Tulane Avenue and Norman C. Francis Parkway in New Orleans' Mid-City neighborhood. The property, originally constructed in the 1940s, boasts a prime location along a major corridor connecting the Central Business District and BioMedical District to Metairie, offering excellent accessibility and high visibility. Its strategic position is further enhanced by proximity to I-10 and Airline Drive (approximately half a mile away), and a vibrant surrounding area featuring numerous restaurants and retail establishments, including upcoming developments. Currently, the ground floor houses two retail tenants, Russell's Cleaners and Poree's Embroidery. The upper two floors, totaling 7,220 square feet of shell space, present a significant redevelopment opportunity for multifamily or office use. The building is pre-approved for both State and Federal historic tax credits, offering substantial potential for cost savings and investment returns. The asking price is $975,000, translating to $90.03 per square foot. The property is zoned MU-1 and is offered under a NNN lease structure with multiple tenants. This presents a unique chance to acquire a well-located, historic building with significant upside potential in a rapidly growing area.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0987
    Latitude
    29.9657
    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
    $8,820
    $68,910
    $77,730
    -
    $88,200
    $459,400
    $547,600

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      639 Scott St

      OFFICE BUILDING • 0.09 Acres
      639 Scott St, New Orleans, LA 70119
      View Details
    • Value Estimation by Request
      0.17 Acres

      1452 Broad St

      OFFICE BUILDING • 0.17 Acres
      1452 Broad St, New Orleans, LA 70119-2369
      View Details
    • Value Estimation by Request
      784 SF

      2727 Tulane Ave

      OFFICE BUILDING • 784 SF
      2727 Tulane Ave, New Orleans, LA 70119
      View Details
    • Value Estimation by Request
      1,815 SF

      3219 Tulane Ave

      OFFICE BUILDING • 1,815 SF
      3219 Tulane Ave, New Orleans, LA 70119
      View Details
    • Value Estimation by Request
      2,660 SF

      120 Telemachus St

      OFFICE BUILDING • 2,660 SF
      120 Telemachus St, New Orleans, LA 70119-5236
      View Details
    • Value Estimation by Request
      728 SF

      4005 Toulouse St

      OFFICE BUILDING • 728 SF
      4005 Toulouse St, New Orleans, LA 70119-4725
      View Details

    Similar Nearby for Sale

    • $800,000
      3,878 SF

      Canal Street Leased Office Building

      Leased office building on Canal Street with storage.
      4164 Canal St, New Orleans, LA 70119
      View Details
    • $2,200,000
      11,306 SF

      Mid-City Investment Opportunity

      Two-building complex in vibrant Mid-City neighborhood with income potential.
      330-336 North Norman C Francis Pkwy, New Orleans, LA 70119
      View Details
    • $2,750,000

      Midcity New Orleans Prime Properties

      Four properties at Canal Street and S Clark for sale.
      3432 Canal St, New Orleans, LA 70119
      View Details
    • $1,600,000

      Corner Building with Redevelopment Potential

      6,099 SF building suitable for office, retail, or multifamily use.
      3434 Canal St, New Orleans, LA 70119
      View Details
    • $1,200,000
      0.23 Acres

      Mid-City Income-Producing Commercial Building

      Three-story commercial building with income and parking in New Orleans.
      301-303 S Broad St, New Orleans, LA 70119
      View Details
    • $1,250,000
      4,563 SF

      Canal Street Office Building Portfolio

      Office building with off-street parking and commercial applications.
      3426 Canal St, New Orleans, LA 70119
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,091 SF

      Mid-City Office Space Available

      New Orleans Office: 800-2,091 SF
      3100 Banks St, New Orleans, LA 70119
      View Details
    • $925,000
      8,680 SF

      Versatile Office/Warehouse Near I-10

      8,680 SF office/warehouse on 11,983 SF lot, prime location.
      316 S Bernadotte St, New Orleans, LA 70119
      View Details
    • $21 SF/Yr
      1,038 SF

      Mid-City Creative Office Space

      New Orleans, LA: Historic Charm, Modern Amenities
      2401 Bienville St, New Orleans, LA 70119
      View Details
    • $18 SF/Yr
      21,977 SF

      Medical Office Suites, New Orleans

      Prime Medical Office Space Available
      3308 Tulane Ave, New Orleans, LA 70119
      View Details
    • $23 SF/Yr
      1,087 SF

      High-Visibility Office Space Available

      Prime office space at a busy, accessible New Orleans location.
      540 South Broad St, New Orleans, LA 70119
      View Details
    • $1.00 SF/Yr
      2,160 SF

      Stand-Alone Corner Building for Lease

      2,960 SF stand-alone corner building with retail appeal.
      4701 S Carrollton Ave, New Orleans, LA 70119
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3401 Tulane Ave
    New Orleans, LA 70119-7141
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.