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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1124 Esplanade Ave New Orleans, LA 70116

    • Commercial real estate
    • 0.31 lot acres
    For Sale
    View listing
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1527541
    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

    • Henrietta delle / Park

    Property Details for 1124 Esplanade Ave

    Lot size
    0.31 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional .309-acre property, located at 1124 Esplanade Avenue in New Orleans, Louisiana, presents a remarkable investment opportunity. Situated in the coveted Marigny district, this land boasts high visibility and easy access via Esplanade Avenue. The HMC-2 zoning allows for a variety of mixed-use development options, catering to diverse commercial and residential projects. Its strategic location places it within half a block of the major intersection of North Rampart and Esplanade Avenues, ensuring high traffic and excellent exposure. Furthermore, the property enjoys close proximity to the vibrant French Quarter and the culturally rich Marigny, both renowned for their distinctive architecture, lively atmosphere, and diverse culinary and entertainment scenes. The convenient location also offers easy access to Interstate 10, less than 1.32 miles away, and is within a 20-minute drive of Louis Armstrong International Airport. This unique offering combines the allure of a historic New Orleans location with the potential for significant returns on investment. The property's size, zoning, and location make it an ideal canvas for a variety of development projects, capitalizing on the area's thriving cultural and commercial landscape. The asking price is $1,100,000. The zip code is 70116.

    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
    -90.064237933078
    Latitude
    29.966273370794

    Comparable in this City

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      Renovated Victorian Duplex in New Orleans

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    Similar Nearby for Sale

    • $399,900
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      Marigny Duplex: Historic New Orleans Double

      Historic Marigny double offers investment, rental, or single-family potential.
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      View Details
    • $240,000
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      Creole Cottage Duplex in Tremé

      Spacious duplex near Esplanade Ave, historic Tremé neighborhood.
      1447 N Roman St, New Orleans, LA 70116
      View Details
    • $287,000
      2,255 SF

      Historic Treme Triplex Opportunity

      Triplex in vibrant Treme neighborhood, close to French Quarter.
      1915-1917 Bayou Rd, New Orleans, LA 70116
      View Details
    • New
      $749,900
      2,591 SF

      Renovated Victorian Duplex in New Orleans

      Historic Victorian duplex with modern updates in vibrant Faubourg Marigny.
      2226 N Rampart St, New Orleans, LA 70116
      View Details
    • $424,000

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      817 Burgundy St, New Orleans, LA 70116
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    • $649,000
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      New Orleans Triplex with Income

      Multi-family property featuring a primary residence plus two ground-floor units.
      1430 N Derbigny St, New Orleans, LA 70116
      View Details

    Similar Nearby for Lease

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      Restored Apartment in Historic Treme

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      Retail and Apartment Building

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    1124 Esplanade Ave
    New Orleans, LA 70116
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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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