Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1501 Martin Luther King Jr Dr Monroe, LA 71202-4511
    Back to Search
    Property profile & analytics

    1501 Martin Luther King Jr Dr Monroe, LA 71202-4511

    View on Map
    • Motels
    • 28,195 SF
    • 2.14 lot acres
    Off-Market
    Last Sale Sep 14, 2021
    $2,965,000
    Property ID
    US36-0542267
    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
    $2,445,000
    Show details
    Cap Rate Potential
    6.2%
    Motels
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 1501 Martin Luther King Jr Dr

    Year built
    1985
    Lot size
    2.14 lot acres
    Property size
    28,195 SF
    Property type
    Motels
    APN
    68675
    APU
    68675

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,520,000
      ML approach
      $2,425,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,595,000
      6.5%
      $2,395,000
      7%
      $2,220,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,620,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Ouachita
    State
    Louisiana
    Longitude
    -92.0822
    Latitude
    32.492
    CBSA code
    33740
    CBSA name
    MONROE, 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
    2023
    $18,328
    $20,957
    $146,100
    $167,057
    -
    $209,570
    $974,005
    $1,183,575

    Comparable in this City

    • Value Estimation by Request
      4,748 SF

      1805 Martin Luther King Jr Dr

      MOTEL • 4,748 SF
      1805 Martin Luther King Jr Dr, Monroe, LA 71202-4517
      View Details
    • Value Estimation by Request
      1.42 Acres

      1407 Martin Luther King Jr Dr

      MOTEL • 1.42 Acres
      1407 Martin Luther King Jr Dr, Monroe, LA 71202-3739
      View Details
    • Value Estimation
      $2,065,000
      42,591 SF

      1401 Martin Luther King Jr Dr

      MOTEL • 42,591 SF
      1401 Martin Luther King Jr Dr, Monroe, LA 71202-3739
      View Details
    • Value Estimation by Request
      2.00 Acres

      5650 Frontage Rd

      MOTEL • 2.00 Acres
      5650 Frontage Rd, Monroe, LA 71202-4033
      View Details
    • Value Estimation by Request
      0.37 Acres

      1800 Jackson St

      MOTEL • 0.37 Acres
      1800 Jackson St, Monroe, LA 71202-2530
      View Details
    • Value Estimation by Request
      1.00 Acre

      163 Parker Rd

      Distribution properties • 2,100 SF
      163 Parker Rd, Monroe, LA 71202
      View Details

    Similar Nearby for Sale

    • $180,000
      1,500 SF

      Prime Monroe Restaurant w/ Drive-Thru

      Established Restaurant, Drive-Thru, Ample Parking
      1648 Richwood Rd, Monroe, LA 71202
      View Details
    • Contact for pricing

      Prime Retail Development Opportunity

      Land for sale or ground lease near Pecanland Mall.
      4750 Frontage Rd, Monroe, LA 71202
      View Details
    • Contact for pricing

      Commercial Land I-20 Frontage Road

      Commercial land near I-20, Sam's Club, and college.
      7600-2 Frontage Rd, Monroe, LA 71202
      View Details
    • Contact for pricing

      Turnkey Meat Market Opportunity

      Operating meat market with equipment included, potential for two units.
      1207 Orange St, Monroe, LA 71202
      View Details
    • $240,000

      Land For Sale

      Land available for sale in Monroe, Louisiana.
      000 Dellwood Dr, Monroe, LA 71202
      View Details
    • Contact for pricing
      2,045 SF

      Pharmacy Building with Drive-Thru

      Versatile commercial property with drive-thru, storage, and additional lot.
      1215 Orange St, Monroe, LA 71202
      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.
    1501 Martin Luther King Jr Dr
    Monroe, LA 71202-4511
    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
    1501 Martin Luther King Jr Dr, Monroe, LA, 71202
    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!