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Property profile & analytics
OFF-MARKET
Estimated value
$5,995,000
Apartment buildings
2200 Westbend Pkwy New Orleans, LA 70114-4932
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US36-1399056
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Total area
60,551 SF
Lot
6.54 ac (285,085 SF)
APN
513710702
UPID
US36-1399056
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
-
Oakmont of Algiers Apartment Complex
-
Spring Book Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.00M
Owner & transaction history
Westbank Holdings LLC · 8 yrs held
Westbank Holdings LLC
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.0M
+26.7%
Office building
$8.1M
+13.8%
Auto repair, garage
$7.1M
+0.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,075,000
Current use
RETAIL STORES
$8,965,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$8,055,000
Change: +14% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,095,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$7,005,000
Change: -1% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,265,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$6.00M
Range $5.40M – $6.59M · ±10%
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
$99 / 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
$485,800
Assessed 2023
Previous assessed
$438,450
+10.8% YoY
Assessed land
$57,020
Assessed improvement
$428,780
Land market value
$570,200
Improvement market value
$4,287,800
Total market value
$4,858,000
Applied tax rate
5.0000
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
Year built
1975
Heating
NONE
Total area
60,551 SF
Lot
6.54 ac (285,085 SF)
APN
513710702
UPID
US36-1399056
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.1M
RETAIL STORES
Est. value
$9.0M
OFFICE BUILDING
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.3M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1975
Heating
NONE
Lot
6.54 ac
Current owner
From public records · entity-resolved
Westbank Holdings LLC
Entity
Mailing address
650 POYDRAS ST STE #2525, NEW ORLEANS, LA 70130-6150
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2018
—
Westbank Holdings LLC
—
Deed
related
$22,150,000 · Greystone Svcg
Jun 29, 2016
—
Westbank Holdings LLC
—
Deed
related
$2,000,000 · First Nbc Bk
—
—
Westbank Holdings LLC
—
Loan Modification
related
$2,000,000 · First Nbc Bk
—
—
Westbank Holdings LLC
—
Deed Of Trust
related
$22,150,000 · Greystone Svcg
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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