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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Investment properties
1224 Decatur St New Orleans, LA 70116-2608
Entity Owned
2-yr Hold
Property ID
US36-0452341
Property summary
AI-generated overview
This exceptional Class A mixed-use building in New Orleans' French Quarter presents a unique investment opportunity. The three-story, 5,109 square foot property boasts 1,277 square feet of ground-floor commercial space, currently fully leased to Crescent City Conjure, and two 3-bedroom, 2-bathroom residential units, each with balconies. Completely renovated between 2014 and 2015, the building enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $87,301 and a 6.72% cap rate. Situated on a prime commercial strip just three blocks from Bourbon Street, this property benefits from its proximity to major tourist attractions and a vibrant, high-income demographic. The asking price is $1,300,000, representing a price per square foot of $254.45, well below replacement cost. The property is offered fee simple and is part of a tight submarket with only 3% vacancy. Two similar mixed-use properties are also available nearby. This is an irreplaceable piece of real estate in a highly coveted location.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
5,109 SF
Lot
0.04 ac (1,794 SF)
APN
208100208
UPID
US36-0452341
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Crescent City Conjure Religious Bookstore
-
Moor Real Estate Solutions LLC Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.18M
Owner & transaction history
Hanqi Investments LLC · 2 yrs held
Hanqi Investments LLC
since 2024
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$965,000
+82.7%
Retail stores
$755,000
+43.1%
Apartment house (5+ units)
$750,000
+42.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Orleans submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Orleans submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,175,000
ML approach
$1,175,000
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,060,000
7%
$985,000
Alternative Use
Use
Estimation
RESTAURANT
$965,000
Change: +83% · Conversion: Difficult
RETAIL STORES
$755,000
Change: +43% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$750,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±10% · vs last sale $1.18M (Apr 26 2024)
Last sale anchor
$1.18M
Apr 26 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$230 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$107,790
Assessed 2023
Previous assessed
$73,910
+45.8% YoY
Assessed land
$10,980
Assessed improvement
$96,810
Land market value
$109,800
Improvement market value
$831,000
Total market value
$940,800
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
NONE
Total area
5,109 SF
Lot
0.04 ac (1,794 SF)
APN
208100208
UPID
US36-0452341
Jurisdiction
ORLEANS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$965,000
RETAIL STORES
Est. value
$755,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$750,000
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Lot
0.04 ac
Current owner
From public records · entity-resolved
Hanqi Investments LLC
Entity
Mailing address
3708 LK KRISTIN DR, GRETNA, LA 70056-8339
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2024
$1,175,000
Hanqi Investments LLC
1224 Decatur Street LLC
Cash Sale Deed
$881,250 · Gulf Coast Bank & Trust Company
Aug 15, 2018
—
1224 Decatur Street LLC
—
Deed Of Trust
related
$1,129,087 · Hancock Whitney Bk
Nov 10, 2014
$650,000
1224 Decatur Street LLC
Fontenelle J F & E G Trust
Grant Deed
$5,000,000 · Bank Of New Orleans
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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