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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Bed & breakfasts
2438 Royal St New Orleans, LA 70117-7811
Entity Owned
8-yr Hold
Property ID
US36-2508654
Property profile
Verified
Property type
Bed & breakfasts
Use group
BED & BREAKFAST
Year built
1900
Construction
FRAME
Total area
5,382 SF
Lot
0.12 ac (5,440 SF)
APN
38W100901
UPID
US36-2508654
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
-
The Mansion on Royal Hotel & Motel
-
The Mansion on Royal Street Bed & Breakfast Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$673k
Blend (final)
Blend
$660k
Owner & transaction history
Lege Smith LLC A Louisiana Limited · 8 yrs held
Lege Smith LLC A Louisiana Limited
since 2017
6 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
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
HOTEL/MOTEL
$1,050,000
Current use
RESTAURANT
$1,020,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$123 / 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
$132,550
Assessed 2023
Previous assessed
$96,870
+36.8% YoY
Assessed land
$13,600
Assessed improvement
$118,950
Land market value
$136,000
Improvement market value
$1,189,500
Total market value
$1,325,500
Applied tax rate
3.0000
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
Bed & breakfasts
Use group
BED & BREAKFAST
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
NONE
Stories
3
Rooms
6
Total area
5,382 SF
Lot
0.12 ac (5,440 SF)
APN
38W100901
UPID
US36-2508654
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
HOTEL/MOTEL Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.0M
HOTEL/MOTEL Current
RESTAURANT
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
1900
Construction
FRAME
Heating
NONE
Stories
3
Rooms
6
Lot
0.12 ac
Current owner
From public records · entity-resolved
Lege Smith LLC A Louisiana Limited
Entity
Mailing address
3535 CANAL ST, NEW ORLEANS, LA 70119-6172
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2022
—
Lege Smith LLC
—
Deed
related
$1,800,000 · Planters Bank & Trust Company
Dec 12, 2019
—
Lege Smith LLC
—
Deed
related
$1,277,500 · First Bank And Trust
Jan 7, 2019
—
Lege Smith LLC
—
Deed
related
$900,000 · David M Smith
Dec 7, 2017
$1,472,786
Lege Smith LLC A Louisiana Limited
David Michael Smith
Cash Sale Deed
$90,000 · 3rd Party Individual
Mar 6, 2017
$1,500,000
2438 Royal LLC
Smith,david M
Dual Purpose Document
related
$1,500,000
—
—
Lege Smith LLC
—
Loan Modification
related
$900,000 · David M Smith
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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