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

    2639 Dreux Ave New Orleans, LA 70122-6265

    • Apartment buildings
    • 3,014 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2024
    $530,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    5.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US36-0227795
    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

    • Apartment buildings

    Property Details for 2639 Dreux Ave

    Year built
    1965
    Lot size
    0.10 lot acres
    Property size
    3,014 SF
    Property type
    Apartment buildings
    APN
    38W408013
    APU
    38W408013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $530,000
      ML approach
      $530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $450,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $517,000
      Market price range: $198k - $518k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $350,000
      Current use
      RETAIL STORES
      $445,000
      Change: +27% Conversion: Difficult
      OFFICE BUILDING
      $400,000
      Change: +14% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $355,000
      Change: +0% Conversion: Difficult
      MEDICAL BUILDING
      $350,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0495
    Latitude
    30.0126
    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
    $2,250
    $48,790
    $51,040
    -
    $22,500
    $487,900
    $510,400

    Comparable in this City

    • Value Estimation
      $960,000
      15,336 SF

      2544 Allen Toussaint Blvd

      APARTMENT HOUSE (5+ UNITS) • 15,336 SF
      2544 Allen Toussaint Blvd, New Orleans, LA 70122-5501
      View Details
    • Value Estimation by Request
      1.82 Acres

      3821 Franklin Ave

      APARTMENT HOUSE (5+ UNITS) • 1.82 Acres
      3821 Franklin Ave, New Orleans, LA 70122-6058
      View Details
    • Value Estimation by Request
      6,839 SF

      4450 Franklin Ave

      APARTMENT HOUSE (5+ UNITS) • 6,839 SF
      4450 Franklin Ave, New Orleans, LA 70122-6100
      View Details
    • Value Estimation by Request
      5,518 SF

      3300 Frenchmen St

      APARTMENT HOUSE (5+ UNITS) • 5,518 SF
      3300 Frenchmen St, New Orleans, LA 70122-3728
      View Details
    • Value Estimation by Request
      3,020 SF

      2507 Myrtle St

      APARTMENT HOUSE (5+ UNITS) • 3,020 SF
      2507 Myrtle St, New Orleans, LA 70122-4740
      View Details
    • Value Estimation by Request
      7,296 SF

      6218 Arts St

      APARTMENT HOUSE (5+ UNITS) • 7,296 SF
      6218 Arts St, New Orleans, LA 70122-5504
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      74,965 SF

      Gentilly Mixed-Use Property

      75,000 SF, 6 Buildings, Prime Location
      3736 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • $250,000
      1,690 SF

      Gentilly Duplex in Great Condition

      Classic Gentilly duplex, ideal for investors or owner-occupiers.
      6223 Wainwright Dr, New Orleans, LA 70122
      View Details
    • $315,000
      2,500 SF

      Gentilly Duplex: Income-Generating Opportunity

      Well-maintained Gentilly duplex, ideal for investors or owner-occupants.
      4321 Touro St, New Orleans, LA 70122
      View Details
    • $240,000
      900 SF

      Charming Multifamily Home, New Orleans

      Two-story multifamily home in a desirable New Orleans neighborhood.
      1567 Mandolin St, New Orleans, LA 70122
      View Details
    • $349,900
      4,145 SF

      Brick Duplex in New Orleans

      Well-maintained duplex with income potential in a desirable New Orleans area.
      3530-32 Touro St, New Orleans, LA 70122
      View Details
    • $245,000
      1,470 SF

      Gentilly Duplex Investment Opportunity

      High-earning duplex in Gentilly, New Orleans with steady rental income.
      2653 Gladiolus St, New Orleans, LA 70122
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Updated Cottage Near UNO

      Updated double with modern amenities, near UNO and lake.
      6401 Painters St, New Orleans, LA 70122
      View Details
    • $1,100 /Mo
      820 SF

      Spacious 2 Bed Unit

      Two-bedroom, one-bath unit with open floor plan and small yard.
      6317 Arts St, New Orleans, LA 70122
      View Details
    • $25 SF/Yr
      1,975 SF

      Franklin Ave Retail End Cap

      New Construction, 1975 SF, Prime Location
      6750 Franklin Ave, New Orleans, LA 70122
      View Details
    • $1.53 SF/Yr

      Gated Land Parcel For Rent

      Gated 3,840-SF land parcel near I-10 and I-610.
      2555 Constitution Pl, New Orleans, LA 70122
      View Details
    • $22 SF/Yr
      1,800 SF

      Lake Oaks Plaza: Prime Retail Space

      1800 sq ft Executive Office/Retail
      6600 Franklin Ave, New Orleans, LA 70122
      View Details
    • $10,000 /Mo
      26,759 SF

      Corner Development Opportunity in Gentilly

      Highly visible corner lot available for development in New Orleans.
      2200 Allen Toussaint Blvd, New Orleans, LA 70122
      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.
    2639 Dreux Ave
    New Orleans, LA 70122-6265
    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.