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

    1315 Norman C Francis Pkwy New Orleans, LA 70125-1700

    • Apartment buildings
    • 87,041 SF
    • 2.46 lot acres
    OFF-MARKET
    Value Estimations
    $6,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0376885
    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

    • Apartment buildings

    Property Details for 1315 Norman C Francis Pkwy

    Year built
    1930
    Lot size
    2.46 lot acres
    Property size
    87,041 SF
    Property type
    Apartment buildings
    APN
    614353001
    APU
    614353001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,778,000
      Market price range: $5.71M - $15.0M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $10,175,000
      Current use
      AUTO REPAIR, GARAGE
      $10,200,000
      Change: +0% Conversion: Difficult
      MEDICAL BUILDING
      $10,065,000
      Change: -1% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $9,010,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.1058
    Latitude
    29.9576
    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
    $107,150
    $226,550
    $333,700
    -
    $1,071,500
    $2,265,500
    $3,337,000

    Comparable in this City

    • Value Estimation
      $1,045,000
      11,820 SF

      3015 Toledano St

      APARTMENT HOUSE (5+ UNITS) • 11,820 SF
      3015 Toledano St, New Orleans, LA 70125
      View Details
    • Value Estimation by Request
      3,840 SF

      4334 Clio St

      APARTMENT HOUSE (5+ UNITS) • 3,840 SF
      4334 Clio St, New Orleans, LA 70125-1849
      View Details
    • Value Estimation
      $590,000
      5,024 SF

      3417 Claiborne Ave

      APARTMENT HOUSE (5+ UNITS) • 5,024 SF
      3417 Claiborne Ave, New Orleans, LA 70125-4642
      View Details
    • Value Estimation by Request
      3,308 SF

      3304 Broadway St

      APARTMENT HOUSE (5+ UNITS) • 3,308 SF
      3304 Broadway St, New Orleans, LA 70125-1627
      View Details
    • Value Estimation by Request
      5,460 SF

      3020 1st St

      APARTMENT HOUSE (5+ UNITS) • 5,460 SF
      3020 1st St, New Orleans, LA 70125-3952
      View Details
    • Value Estimation by Request
      2,465 SF

      2401 Johnson St

      APARTMENT HOUSE (5+ UNITS) • 2,465 SF
      2401 Johnson St, New Orleans, LA 70125-3115
      View Details

    Similar Nearby for Sale

    • $399,000
      4,016 SF

      Income-Producing Triplex in Broadmoor

      Triplex in Broadmoor with original wood floors and stunning crown molding.
      3221 Upperline St, New Orleans, LA 70125
      View Details
    • $465,000
      2,274 SF

      Furnished Duplex in Fontainebleau

      Historic New Orleans duplex with hardwood floors and updated systems.
      8009 Nelson St, New Orleans, LA 70125
      View Details
    • $480,000
      2,000 SF

      New Orleans Duplex Built in 2017

      Fantastic 2017 duplex near universities, shops, and Claiborne Avenue.
      6204 S Rocheblave St, New Orleans, LA 70125
      View Details
    • New
      $210,000
      1,590 SF

      Uptown New Orleans Duplex Home

      Charming duplex in Uptown with fenced backyard, great location.
      3309 4Th St, New Orleans, LA 70125
      View Details
    • $399,500
      2,054 SF

      Renovated Uptown New Orleans Duplex

      Renovated duplex near Zony Mash, convenient to universities and downtown.
      3912 Thalia St, New Orleans, LA 70125
      View Details
    • $330,000
      3,153 SF

      New Orleans Triplex Investment

      Uptown 3-unit value-add opportunity.
      3221 Louisiana Avenue Pkwy, New Orleans, LA 70125
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      2,350 SF

      Spacious Apartment with Four Bedrooms

      First-floor apartment featuring four bedrooms, three baths, and ample space.
      36 Fontainebleau Dr, New Orleans, LA 70125
      View Details
    • $1,520 /Mo

      Uptown Duplex for Rent

      Uptown duplex near schools, transportation, and shopping.
      2410 S Rocheblave St, New Orleans, LA 70125
      View Details
    • $21 SF/Yr
      16,243 SF

      Nola Center: Uptown Retail Opportunity

      Prime Uptown location, two buildings, ample parking.
      2101 Claiborne Ave, New Orleans, LA 70125
      View Details
    • $40 SF/Yr
      9,315 SF

      Uptown New Orleans Medical Building

      Modern Medical Office, Pharmacy-Ready
      4535 Claiborne Ave, New Orleans, LA 70125
      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.
    1315 Norman C Francis Pkwy
    New Orleans, LA 70125-1700
    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.