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    6Th St Harvey, LA 70058
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    6Th St, Harvey, LA 70058

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    • Land
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 6Th St

    Property type
    Land

    Description

    This exceptional offering presents two groups of commercial lots totaling between 25,000 and 37,000 square feet, ideally situated just one block from Manhattan Boulevard in Harvey, Louisiana. The property boasts a highly desirable MUCD zoning designation, opening doors to a wide array of commercial development possibilities. Located conveniently near established businesses such as Home Bank and Taco Bell, this location offers excellent visibility and accessibility. The lots are situated on paved streets, with utilities readily available on Manhattan Boulevard. The land is currently undeveloped, presenting a unique opportunity for investors and developers to create a tailored commercial project. The price per square foot ranges from $8 to $9, reflecting the significant potential of this prime location. The corner lot positioning further enhances the property's value and visibility, making it an attractive investment for those seeking a high-impact commercial development site in a thriving area. The address is on 6th Street, Harvey, LA 70058, within Jefferson Parish. This is a rare opportunity to acquire prime commercial land in a strategic location with significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harvey
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.0883
    Latitude
    29.9027

    Comparable in this City

    • Value Estimation by Request
      20.86 Acres

      1901 Manhattan Blvd

      Land
      1901 Manhattan Blvd, Harvey, LA 70058
      View Details
    • Value Estimation by Request

      1245 1St Ave

      Distribution properties
      1245 1St Ave, Harvey, LA 70058
      View Details
    • Value Estimation by Request

      1920 Manhattan Blvd

      Land
      1920 Manhattan Blvd, Harvey, LA 70058
      View Details
    • Value Estimation by Request
      14,450 SF

      1901 Westbank Expy

      Distribution properties
      1901 Westbank Expy, Harvey, LA 70058
      View Details
    • Value Estimation by Request
      3,040 SF

      405 Texaco Ln

      Commercial real estate
      405 Texaco Ln, Harvey, LA 70058
      View Details
    • Value Estimation by Request
      2,541 SF

      609 1St Ave

      Commercial real estate
      609 1St Ave, Harvey, LA 70058
      View Details

    Similar Nearby for Sale

    • $500,000
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      Harvey Land Parcel For Sale

      Land parcel available in Harvey, Louisiana.
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    • $55,000

      Vacant Land in Harvey, LA

      Undeveloped land with utilities available in Harvey, Louisiana.
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      20,000 SF

      Cleared Land on Manhattan Boulevard

      Cleared land with high traffic count near major retailers.
      1920 Manhattan Blvd, Harvey, LA 70058
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    • $249,000
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      Harvey Commercial Corner Lot

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      1924 4Th St, Harvey, LA 70058
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    • $75,000
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      Residential Lot For New Development

      Residential lot available for new development in Harvey, Louisiana.
      0000 Mathis St, Harvey, LA 70058
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    • $120,000
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      Harvey, LA Vacant Land

      Cleared land in Harvey, LA, ready for development.
      Staten Ave, Harvey, LA 70058
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    Similar Nearby for Lease

    • Contact for pricing

      Westbank Retail Center Pad Site

      Retail spaces available in bustling Westbank shopping center location.
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      Commercial Property for Lease

      Commercial property available for lease in Harvey, Louisiana.
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      Office Space in Rathborne Park

      9,800 SF office space available for lease.
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      Office Warehouse in Rathborne Park

      Office warehouse featuring ample parking and efficient access.
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      Retail Spaces in Open-Air Center

      Retail spaces available in high-traffic shopping center.
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    • Sponsored
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      Fountain Park

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    Harvey, LA 70058
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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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