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    3518 Fenelon Dr Chalmette, LA 70043
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    3518 Fenelon Dr Chalmette, LA 70043

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    • Commercial real estate
    • 2,286 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3518 Fenelon Dr

    Year built
    1986
    Property size
    2,286 SF
    Property type
    Commercial real estate

    Description

    This exceptional two-story commercial building, located at 3518 Fenelon Drive in Chalmette, Louisiana, presents a unique investment opportunity. Boasting 2,286 square feet, this property is strategically positioned just two blocks from the bustling Paris Road, providing unparalleled access to major thoroughfares. Paris Road offers direct connectivity to I-510, as well as east and west I-10, significantly enhancing accessibility and visibility. Its convenient location also places it near key intersections with Judge Perez Drive and St. Bernard Highway, ensuring excellent connectivity throughout the region. The building itself comprises seven individual offices, perfect for a variety of professional uses, along with a dedicated conference room for meetings and presentations. Two half-bathrooms and a kitchen area add to the functionality and convenience of the space. The seller is open to owner financing through a bond for deed, making this an attractive proposition for potential buyers. This property is ideally situated for businesses seeking a prominent location with easy access to New Orleans, offering a blend of convenience and strategic positioning within the vibrant St. Bernard Parish commercial landscape. The building's layout and amenities make it suitable for a range of professional services, offering a comfortable and efficient workspace. This is a rare opportunity to acquire a well-maintained commercial property in a high-traffic area with excellent transportation links.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chalmette
    County
    St. Bernard
    State
    Louisiana
    Longitude
    -89.9614
    Latitude
    29.9527

    Comparable in this City

    • Value Estimation by Request
      19,768 SF

      Judge Perez Dr

      Commercial real estate • 19,768 SF
      Judge Perez Dr, Chalmette, LA 70043
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    • Value Estimation by Request

      Fazzio Rd

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      0 Fazzio Rd, Chalmette, LA 70043
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      2011 Jackson Blvd

      Land
      2011 Jackson Blvd, Chalmette, LA 70043
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      0.16 Acres

      1001 St Bernard Hwy

      Land • 0.16 Acres
      1001 St Bernard Hwy, Chalmette, LA 70043
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    • Value Estimation by Request
      10,580 SF

      8321 Lafitte Ct

      Commercial real estate • 10,580 SF
      8321 Lafitte Ct, Chalmette, LA 70043
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    • Value Estimation by Request
      8,148.00 Acres

      Fazzio Rd

      Land • 8,148.00 Acres
      0 Fazzio Rd, Chalmette, LA 70043
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $2,500 /Mo
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    • $12 SF/Yr
      34,638 SF

      Office Space Available For Rent

      Office space available for lease in Chalmette, Louisiana.
      3300 Paris Rd, Chalmette, LA 70043
      View Details
    • $2,500 /Mo
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      Updated Commercial Space in Chalmette

      Versatile commercial space for lease with high visibility and accessibility.
      203 W Judge Perez Dr, Chalmette, LA 70043
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    • Contact for pricing

      Two-Story Office Building with Warehouse

      Two-story office building with warehouse space for rent.
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      Prime Commercial Land in Chalmette

      Ground lease opportunity in high-visibility Chalmette location.
      2910 Paris Rd, Chalmette, LA 70043
      View Details
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    Chalmette, LA 70043
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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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