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    Property profile & analytics

    1240 Camp St New Orleans, LA 70130

    • Retail space
    • 8,520 SF
    • 0.20 lot acres
    For Sale
    View listing
    $1,800,000
    Last Sale
    Jan 27, 2020
    $2,200,000
    Value Estimations
    Cap Rate Potential
    5.4%
    Retail space
    Location Intelligence
    Property ID
    US36-0473884
    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

    • Retail space

    Property Details for 1240 Camp St

    Year built
    1940
    Lot size
    0.20 lot acres
    Property size
    8,520 SF
    Property type
    Retail space
    APN
    102103820
    APU
    102103820

    Description

    This exceptional Class A creative office building, located at 1240 Camp Street in New Orleans' Lower Garden District, presents a compelling investment opportunity. The 8,655 square foot property, built in 1995, sits on a 0.2-acre lot and boasts a prominent corner location at the intersection of Camp and Thalia Streets. Currently 100% occupied by a credit-rated tenant under a gross lease, the building offers a stabilized investment with a remaining lease term of approximately 1.6 years, expiring June 30, 2026, with renewal options. The property features 5,455 square feet of office space and an additional 3,200 square feet of garage space. The asking price is $1,800,000, translating to $207.97 per square foot. The building is zoned HU-B1A and benefits from its location within a short distance of the Central Business District, a two-way thoroughfare with bike lanes, and attractive landscaping. This single-story building offers unparalleled finishes and amenities, exceeding market standards. The property's strong tenant, Tabasco (McIlhenny Company), ensures a stable income stream. This is a rare opportunity to acquire a high-quality, well-located, and fully occupied commercial property in a desirable New Orleans neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,935,000
      ML approach
      $1,830,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,755,000
      6.5%
      $1,620,000
      7%
      $1,505,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,880,000
      Market price range: $487k - $1.99M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,260,000
      Current use
      OFFICE BUILDING
      $1,995,000
      Change: +58% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,785,000
      Change: +42% Conversion: Easy
      RESTAURANT
      $1,610,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0722
    Latitude
    29.9386
    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
    $17,280
    $178,430
    $195,710
    -
    $172,800
    $1,189,500
    $1,362,300

    Comparable in this City

    • Value Estimation
      $300,000
      1,920 SF

      1114 Josephine St

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      1114 Josephine St, New Orleans, LA 70130-5012
      View Details
    • Value Estimation
      $185,000
      3,162 SF

      2108 Magazine St

      RETAIL STORES (PERSONAL SERVICES) • 3,162 SF
      2108 Magazine St, New Orleans, LA 70130-5046
      View Details
    • Value Estimation
      $305,000
      5,578 SF

      740 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,578 SF
      740 Washington Ave, New Orleans, LA 70130
      View Details
    • Value Estimation
      $420,000
      47,482 SF

      517 Tchoupitoulas St

      RETAIL STORES (PERSONAL SERVICES) • 47,482 SF
      517 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • Value Estimation
      $230,000
      3,700 SF

      2025 Saint Charles Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,700 SF
      2025 Saint Charles Ave, New Orleans, LA 70130-5318
      View Details
    • Value Estimation
      $190,000
      7,667 SF

      2220 Saint Charles Ave, Unit C

      RETAIL STORES (PERSONAL SERVICES) • 7,667 SF
      2220 Saint Charles Ave, New Orleans, LA 70130-5822
      View Details

    Similar Nearby for Sale

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      Magazine Street Retail Portfolio

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    Similar Nearby for Lease

    • $25 SF/Yr
      1,745 SF

      Warehouse District Retail Condo

      1,745 sq ft, prime location, high visibility
      400 Julia St, New Orleans, LA 70130
      View Details
    • Contact for pricing
      2,960 SF

      Retail Space on Tchoupitoulas Street

      Retail space available for rent on Tchoupitoulas Street.
      852-860 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • $42 SF/Yr
      20,335 SF

      Warehouse District Retail Space Available

      Prime corner location with streetcar access and indoor parking.
      757 St Charles Ave, New Orleans, LA 70130
      View Details
    • $2,700,000
      2,048 SF

      Magazine Street Retail Opportunity

      High-visibility retail space on Magazine Street, available October 2026.
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      View Details
    • $2,950 /Mo
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      Retail Space in Central Business District

      935 sq ft retail space in vibrant New Orleans CBD.
      713 Camp St, New Orleans, LA 70130
      View Details
    • $4,000 /Mo
      1,250 SF

      Historic Corner Building in New Orleans

      Restored commercial space in prime Lower Garden District location.
      1900 Magazine St, New Orleans, LA 70130
      View Details
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    1240 Camp St
    New Orleans, LA 70130
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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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