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

    224 Decatur St, Unit C-3 New Orleans, LA 70130-1016

    • Office Properties & Spaces
    • 1,897 SF
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2024
    $1,100,000
    Value Estimations
    $1,100,000
    Show details
    Cap Rate Potential
    2.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US36-2384356
    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

    • Nexus Sync Media Group Incorporation / News Service
    • Viator Store / Sightseeing Tour Agency
    • VIATOR NEW ORLEANS WELCOME CENTER / Tourist Information Center

    Property Details for 224 Decatur St

    Year built
    1900
    Lot size
    0.01 lot acres
    Property size
    1,897 SF
    Property type
    Office Properties & Spaces
    APN
    206101335
    APU
    206101335

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0658
    Latitude
    29.9531
    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
    $4,010
    $17,510
    $21,520
    -
    $40,100
    $116,700
    $156,800

    Comparable in this City

    • Value Estimation by Request
      10,300 SF

      616 Girod St

      Office Properties & Spaces • 10,300 SF
      616 Girod St, New Orleans, LA 70130
      View Details
    • Value Estimation by Request
      12,000 SF

      750 Camp St

      Medical offices • 12,000 SF
      750 Camp St, New Orleans, LA 70130
      View Details
    • Value Estimation by Request
      44,716 SF

      829 St Charles Ave

      Office space • 44,716 SF
      829 St Charles Ave, New Orleans, LA 70130
      View Details
    • Value Estimation by Request
      29.00 Acres

      731 Saint Charles Ave, Unit C4

      CONDOMINIUM OFFICES • 29.00 Acres
      731 Saint Charles Ave, New Orleans, LA 70130-3760
      View Details
    • Value Estimation by Request
      0.01 Acres

      450 Julia St, Unit 1A

      CONDOMINIUM OFFICES • 0.01 Acres
      450 Julia St, New Orleans, LA 70130-3955
      View Details
    • Value Estimation by Request
      0.01 Acres

      213 Royal St

      CONDOMINIUM OFFICES • 0.01 Acres
      213 Royal St, New Orleans, LA 70130-2226
      View Details

    Similar Nearby for Sale

    • $1,800,000
      8,655 SF

      Camp Street Creative Office

      New Orleans investment opportunity: 8,655 SF, 100% occupied.
      1240 Camp St, New Orleans, LA 70130
      View Details
    • $1,750,000
      6,083 SF

      Julia Street Restaurant Opportunity

      Prime New Orleans Warehouse District Retail Space
      527 Julia St, New Orleans, LA 70130
      View Details
    • $5,900,000
      38,729 SF

      Downtown New Orleans Office Trio

      Historic CBD Office Complex, Huge Potential
      320 Camp St, New Orleans, LA 70130
      View Details
    • $495,000
      1,817 SF

      Historic Cottage with Mixed-Use Zoning

      Historic cottage near CBD with mixed-use zoning and parking.
      1630 Robert C. Blakes Sr Dr, New Orleans, LA 70130
      View Details
    • $2,430,000
      10,300 SF

      Historic Warehouse District Office

      Prime New Orleans Office Building, $2.43M
      616 Girod St, New Orleans, LA 70130
      View Details
    • $3,915,000
      15,658 SF

      Prime New Orleans Office Building

      Historic CBD Office, Redevelopment Opportunity
      201 Camp St, New Orleans, LA 70130
      View Details

    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
    • $16 SF/Yr
      10,200 SF

      New Orleans Office Building

      Prime CBD location, 10,200 sq ft.
      223 Magazine St, New Orleans, LA 70130
      View Details
    • $7 SF/Yr
      38,729 SF

      Historic Downtown New Orleans Office

      Exceptional 3-building office complex, 38,729 sf.
      320 Camp St, New Orleans, LA 70130
      View Details
    • $18 SF/Yr
      36,000 SF

      St. Charles Ave Office Suites

      Historic Charm, Modern Office Space
      1820 St. Charles Ave, New Orleans, LA 70130
      View Details
    • $30 SF/Yr
      1,642 SF

      Prime Retail Space, New Orleans

      1642 rsf, Streetcar & Parade Route
      747 St Charles Ave, New Orleans, LA 70130
      View Details
    • $19 SF/Yr
      11,440 SF

      New Orleans CBD Commercial Space

      11,440 SF Creative Office, Prime Location
      230 Carondelet St, New Orleans, LA 70130
      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.
    224 Decatur St, Unit C-3
    New Orleans, LA 70130-1016
    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.