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    Property profile & analytics

    251 Barry Ave Jefferson, LA 70121

    • Commercial real estate
    • 28,924 SF
    For Sale
    View listing
    $2,895,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0761266
    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

    • Commercial real estate

    Property Details for 251 Barry Ave

    Property size
    28,924 SF
    Property type
    Commercial real estate

    Description

    Riverside Commons, a Class B, 48-unit apartment building in Jefferson, Louisiana, presents a compelling investment opportunity. This stabilized multifamily property boasts 28,924 square feet, situated on a single, two-story building with 30 parking spaces. Currently operating at 97% occupancy, with an average monthly rent of $865 per unit, the property generates a substantial net operating income (NOI) of $301,581, representing a 10.42% cap rate. A pro-forma NOI of $525,022 projects an 18.14% cap rate, reflecting significant upside potential. Renovated in 2021, the property features a convenient on-site laundry facility. Its prime location near the Ochsner Medical Campus on Jefferson Highway ensures a strong tenant pool and consistent demand, further enhancing its value. The asking price is $2,895,000, translating to $60,312.50 per unit and $100.09 per square foot. This low-maintenance, cash-flowing asset offers exceptional holding power in a market experiencing a high demand for rental units. The property's proximity to Ochsner Medical Center provides a stable and reliable tenant base, minimizing vacancy rates and maximizing rental income. The potential for rent increases to at least $950 per unit further strengthens the investment's long-term prospects. This is an ideal opportunity for investors seeking a stable, high-performing asset with significant growth potential in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jefferson
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.141673249293
    Latitude
    29.961388331196

    Comparable in this City

    • $6,575,000
      21,000 SF

      Jefferson Multifamily Property Near Ochsner

      Fully renovated, 100% occupied multifamily property near Ochsner Medical Center.
      261 Jules Ave, Jefferson, LA 70121
      View Details
    • $6,575,000
      21,000 SF

      Jefferson Multifamily Property Near Ochsner

      Fully renovated, 100% occupied multifamily property near Ochsner Medical Center.
      261 Jules Ave, Jefferson, LA 70121
      View Details
    • $239,000
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      Jefferson Duplex with Efficiency Unit

      Fully rented duplex with separate efficiency unit near Elmwood.
      16 Hawkins Ave, Jefferson, LA 70121
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    • New
      $350,000
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      Renovated Cottage with Guest House

      Renovated cottage with guest house in Old Jefferson.
      616 Labarre Rd, Jefferson, LA 70121
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    • $350,000
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      Charming Cottage with Income Potential

      Income-producing property in a charming, quiet neighborhood near Jefferson Park.
      237 Vinet Ave, Jefferson, LA 70121
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    • $1,595,000
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      Development Site For Sale

      Development site suitable for retail or medical purposes.
      2819 Jefferson Hwy, New Orleans, LA 70121
      View Details

    Similar Nearby for Sale

    • $6,575,000
      21,000 SF

      Jefferson Multifamily Property Near Ochsner

      Fully renovated, 100% occupied multifamily property near Ochsner Medical Center.
      261 Jules Ave, Jefferson, LA 70121
      View Details
    • $6,575,000
      21,000 SF

      Jefferson Multifamily Property Near Ochsner

      Fully renovated, 100% occupied multifamily property near Ochsner Medical Center.
      261 Jules Ave, Jefferson, LA 70121
      View Details
    • $239,000
      1,202 SF

      Jefferson Duplex with Efficiency Unit

      Fully rented duplex with separate efficiency unit near Elmwood.
      16 Hawkins Ave, Jefferson, LA 70121
      View Details
    • New
      $350,000
      1,453 SF

      Renovated Cottage with Guest House

      Renovated cottage with guest house in Old Jefferson.
      616 Labarre Rd, Jefferson, LA 70121
      View Details
    • $350,000
      2,423 SF

      Charming Cottage with Income Potential

      Income-producing property in a charming, quiet neighborhood near Jefferson Park.
      237 Vinet Ave, Jefferson, LA 70121
      View Details
    • $1,595,000
      25,986 SF

      Development Site For Sale

      Development site suitable for retail or medical purposes.
      2819 Jefferson Hwy, New Orleans, LA 70121
      View Details
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    251 Barry Ave
    Jefferson, LA 70121
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    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
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