Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1124 Esplanade Ave New Orleans, LA 70116
    Back to Search
    Property profile & analytics

    1124 Esplanade Ave, New Orleans, LA 70116

    View on Map
    • Commercial land
    For Sale
    $1,100,000
    View Listing →
    Marigny District Land For Sale For Sale
    $1,100,000
    0.31 Acres

    Marigny District Land For Sale

    Land in historic Marigny, near French Quarter, ideal investment.

    1124 Esplanade Ave, New Orleans, LA 70116
    View Listing
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Henrietta delle / Park

    Property Details for 1124 Esplanade Ave

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Located in the historic Marigny district, this .309-acre property offers a unique opportunity to invest in property with close proximity to the vibrant French Quarter and Marigny Districts, both rich in culture and history known for their classic architecture and eclectic ambiance, restaurants, nightlife entertainment and more. PROPERTY WEBSITE: https://members.moodyscre.com/property/346493/66f2d74b31228e55f395aa72

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.064344
    Latitude
    29.9661775

    Comparable in this City

    • $75,000
      626 SF

      Vacant Corner Lot For Sale

      Vacant corner lot ready for development with HMR-3 zoning.
      1536 North Robertson St, New Orleans, LA 70116
      View Details
    • $1,100,000

      Marigny District Land For Sale

      0.309-acre property in historic Marigny district near French Quarter.
      1124 Esplanade Ave, New Orleans, LA 70116
      View Details
    • $169,000
      0.08 Acres

      Vacant Land Near French Quarter

      Vacant land in the Marigny neighborhood, near French Quarter.
      1422 Columbus St, New Orleans, LA 70116
      View Details
    • $45,000
      885 SF

      New Marigny Property For Sale

      Land in evolving New Orleans pocket, near new construction.
      1807 Touro St, New Orleans, LA 70116
      View Details
    • New
      $52,000

      New Orleans Vacant Lot Opportunity

      Vacant lot in high-demand New Orleans location, ideal for development.
      1656 N Claiborne St, New Orleans, LA 70116
      View Details
    • $89,000
      0.10 Acres

      Vacant Lot in Seventh Ward

      Graded and leveled vacant lot ready for new construction.
      1426 St. Anthony St, New Orleans, LA 70116
      View Details

    Similar Nearby for Sale

    • $1,100,000

      Marigny District Land For Sale

      0.309-acre property in historic Marigny district near French Quarter.
      1124 Esplanade Ave, New Orleans, LA 70116
      View Details
    • $75,000
      626 SF

      Vacant Corner Lot For Sale

      Vacant corner lot ready for development with HMR-3 zoning.
      1536 North Robertson St, New Orleans, LA 70116
      View Details
    • $169,000
      0.08 Acres

      Vacant Land Near French Quarter

      Vacant land in the Marigny neighborhood, near French Quarter.
      1422 Columbus St, New Orleans, LA 70116
      View Details
    • $45,000
      885 SF

      New Marigny Property For Sale

      Land in evolving New Orleans pocket, near new construction.
      1807 Touro St, New Orleans, LA 70116
      View Details
    • New
      $52,000

      New Orleans Vacant Lot Opportunity

      Vacant lot in high-demand New Orleans location, ideal for development.
      1656 N Claiborne St, New Orleans, LA 70116
      View Details
    • $89,000
      0.10 Acres

      Vacant Lot in Seventh Ward

      Graded and leveled vacant lot ready for new construction.
      1426 St. Anthony St, New Orleans, LA 70116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,000 SF

      Retail and Apartment Building

      Retail suites and apartments for rent on N Claiborne.
      1950 N Claiborne Ave, New Orleans, LA 70116
      View Details
    • $1.00 SF/Yr

      Office Space in New Orleans

      Office property with 17,613 square feet available for rent.
      2101 Orleans Ave, New Orleans, LA 70116
      View Details
    • Contact for pricing
      600 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans, Louisiana.
      1301 Decatur St, New Orleans, LA 70116
      View Details
    • Contact for pricing

      French Quarter Retail Space Available

      Prime retail space in the heart of the French Quarter.
      1132 Decatur St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      1,271 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans, Louisiana.
      1100 N Peters St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Frenchmen Street

      Retail space available for lease on Frenchmen Street.
      610 Frenchmen St, New Orleans, LA 70116
      View Details
    View Listing
    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.
    1124 Esplanade Ave
    New Orleans, LA 70116
    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.

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1124 Esplanade Ave, New Orleans, LA, 70116
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!