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Property profile & analytics
OFF-MARKET
Estimated value
$105,220,000
Apartment buildings
1535 Canal St New Orleans, LA 70112-2822
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US36-0595288
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Lot
1.84 ac (80,242 SF)
APN
206105307
UPID
US36-0595288
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
-
MyPlace Fitness Gym & Fitness Center
-
Canal 1535 Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$105.22M
Owner & transaction history
Passco Canal 1535 Dst · 4 yrs held
Passco Canal 1535 Dst
since 2022
Last sale
$120.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$75,665,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$105.22M
Range $94.70M – $115.74M · ±10% · vs last sale $120.00M (Apr 27 2022)
Last sale anchor
$120.00M
Apr 27 2022
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
—
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
$8,249,540
Assessed 2023
Previous assessed
$1,696,230
+386.3% YoY
Assessed land
$641,940
Assessed improvement
$7,607,600
Land market value
$6,419,400
Improvement market value
$76,075,980
Total market value
$82,495,380
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Heating
NONE
Lot
1.84 ac (80,242 SF)
APN
206105307
UPID
US36-0595288
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
Building & site characteristics
From public records
Heating
NONE
Lot
1.84 ac
Current owner
From public records · entity-resolved
Passco Canal 1535 Dst
Individual
Mailing address
2050 MAIN ST STE #650, IRVINE, CA 92614-8265
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
$120,000,000
Passco Canal 1535 Dst
Canal Crossing LP
Warranty Deed
$45,000,000 · Keybank NA
Feb 14, 2020
—
Canal Crossing LP
—
Deed
related
$69,250,000 · Commerce Bk
Aug 29, 2016
—
Canal Crossing LP
—
Deed
related
$63,476,000 · Commerce Bk
Jan 28, 2016
$10,000,000
Canal Crossing LP
Downtown Star LLC
Grant Deed
$6,000,000 · Commerce Bk
—
—
Canal Crossing LP
—
Loan Modification
related
$63,476,000 · Commerce Bk
—
—
Canal Crossing LP
—
Loan Modification
related
$75,000,000 · Commerce Bk
—
—
Canal Crossing LP
—
Loan Modification
related
$69,250,000 · Commerce Bk
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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