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

    1215 Japonica St New Orleans, LA 70117-4604

    • Showrooms
    • 27,820 SF
    • 1.64 lot acres
    OFF-MARKET
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0153370
    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

    • La Carpenters Regional Council / General Contractor
    • Everything Forever / Nightclub / Music Venue
    • The School Art Studios / Art Gallery
    • St Veronica's Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Hestia Paint & Restoration LLC / Construction Company / General Contractor

    Property Details for 1215 Japonica St

    Year built
    1960
    Construction
    CONCRETE BLOCKS
    Lot size
    1.64 lot acres
    Property size
    27,820 SF
    Property type
    Showrooms
    APN
    39W301901
    APU
    39W301901

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $869,000
      Market price range: $768k - $2.48M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0286
    Latitude
    29.9656
    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
    $28,540
    $82,070
    $110,610
    -
    $285,400
    $547,100
    $832,500

    Comparable in this City

    • Value Estimation
      $635,000
      12,737 SF

      1717 Poland Ave

      SHOW ROOM, WAREHOUSE • 12,737 SF
      1717 Poland Ave, New Orleans, LA 70117-4531
      View Details
    • Value Estimation by Request
      320 SF

      7 Press St

      SHOW ROOM, WAREHOUSE • 320 SF
      7 Press St, New Orleans, LA 70117
      View Details
    • Value Estimation by Request
      4,968 SF

      2451 Law St

      SHOW ROOM, WAREHOUSE • 4,968 SF
      2451 Law St, New Orleans, LA 70117-7957
      View Details
    • Value Estimation by Request
      2,033 SF

      1808 Franklin Ave

      SHOW ROOM, WAREHOUSE • 2,033 SF
      1808 Franklin Ave, New Orleans, LA 70117-7602
      View Details
    • Value Estimation by Request
      4,536 SF

      624 Mandeville St

      SHOW ROOM, WAREHOUSE • 4,536 SF
      624 Mandeville St, New Orleans, LA 70117-8516
      View Details
    • Value Estimation by Request
      3,036 SF

      6424 Marais St

      SHOW ROOM, WAREHOUSE • 3,036 SF
      6424 Marais St, New Orleans, LA 70117
      View Details

    Similar Nearby for Sale

    • $389,000
      2,400 SF

      Holy Cross Live/Work Opportunity

      Historic New Orleans corner lot with commercial and residential spaces.
      4999 Burgundy St, New Orleans, LA 70117
      View Details
    • $150,000
      1,228 SF

      St Claude Avenue Commercial Building

      Single-story building on St Claude Ave, ideal for retail/restaurant.
      5700 St Claude Ave, New Orleans, LA 70117
      View Details
    • $200,000
      6,824 SF

      New Orleans Commercial Property For Sale

      Commercial property with HU-B1 zoning, ready for redevelopment.
      2033 Desire St, New Orleans, LA 70117
      View Details
    • $750,000
      12,665 SF

      St. Claude Ave Commercial Shell

      High-visibility retail space, redevelopment opportunity.
      5500 St Claude Ave, New Orleans, LA 70117
      View Details
    • $724,000
      2,029 SF

      Remodeled Commercial Property in Faubourg Marigny

      Remodeled property near restaurants and shops, ideal for commercial uses.
      2404 Saint Claude Ave, New Orleans, LA 70117
      View Details
    • $650,000
      6,900 SF

      Iconic Bywater Commercial Property

      Versatile 6,900 sq ft property in the heart of Bywater.
      4321 Saint Claude Ave, New Orleans, LA 70117
      View Details

    Similar Nearby for Lease

    • $6,300 /Mo
      3,980 SF

      Bywater Retail/Restaurant Space Available

      Prime retail/restaurant space in the heart of the Bywater.
      882 Montegut St, New Orleans, LA 70117
      View Details
    • $1,500 /Mo
      1,300 SF

      Historic-Looking Corner Store Building

      Commercial space suitable for coffee shop, office, or retail.
      4999 Burgundy St, New Orleans, LA 70117
      View Details
    • $5,500 /Mo
      1,200 SF

      Unique Corner Retail Space Available

      Corner retail space in the heart of New Orleans.
      2128 Saint Claude Ave, New Orleans, LA 70117
      View Details
    • $264 SF/Yr
      7,727 SF

      St. Claude Ave Retail Spaces

      Prime New Orleans Retail/Office Opportunity
      2222 St Claude Ave, New Orleans, LA 70117
      View Details
    • $6,300 /Mo

      Bywater White Box Retail Space

      1,729 SF white box space in the heart of Bywater.
      880 Montegut St, New Orleans, LA 70117
      View Details
    • $120 SF/Yr
      4,771 SF

      St. Claude Ave Healing Center Suites

      New Orleans creative office spaces available
      2372 St Claude Ave, New Orleans, LA 70117
      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.
    1215 Japonica St
    New Orleans, LA 70117-4604
    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

    Google sign-in failed. Please try again or use another login method.