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

    2653 Palmyra St New Orleans, LA 70119

    • Grocery and convenience stores
    • 2,100 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0141473
    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

    • Grocery and convenience stores

    Property Details for 2653 Palmyra St

    Year built
    1910
    Lot size
    0.11 lot acres
    Property size
    2,100 SF
    Property type
    Grocery and convenience stores
    APN
    105202115
    APU
    105202115

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $241,000
      Market price range: $87.2k - $267k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $310,000
      Current use
      OFFICE BUILDING
      $255,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0884
    Latitude
    29.9638
    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
    $11,930
    $20,340
    $32,270
    -
    $119,300
    $135,600
    $254,900

    Comparable in this City

    • Value Estimation
      $230,000
      3,818 SF

      120 Galvez St

      GROCERY, SUPERMARKET • 3,818 SF
      120 Galvez St, New Orleans, LA 70119-5755
      View Details
    • Value Estimation
      $200,000
      792 SF

      1782 Dorgenois St

      GROCERY, SUPERMARKET • 792 SF
      1782 Dorgenois St, New Orleans, LA 70119-2443
      View Details
    • Value Estimation
      $205,000
      1,560 SF

      601 Rocheblave St

      GROCERY, SUPERMARKET • 1,560 SF
      601 Rocheblave St, New Orleans, LA 70119-5033
      View Details
    • Value Estimation
      $255,000
      6,056 SF

      2001 Rocheblave St

      GROCERY, SUPERMARKET • 6,056 SF
      2001 Rocheblave St, New Orleans, LA 70119-1425
      View Details
    • Value Estimation
      $510,000
      109,104 SF

      300 Broad St

      GROCERY, SUPERMARKET • 109,104 SF
      300 Broad St, New Orleans, LA 70119-5595
      View Details
    • Value Estimation
      $250,000
      5,424 SF

      3135 Esplanade Ave

      GROCERY, SUPERMARKET • 5,424 SF
      3135 Esplanade Ave, New Orleans, LA 70119-3119
      View Details

    Similar Nearby for Sale

    • $289,000
      447 SF

      Mid-City Blank Canvas Opportunity

      Blank canvas in Mid-City, New Orleans, ready for build-out.
      3310 Conti St, New Orleans, LA 70119
      View Details
    • $2,750,000

      Midcity New Orleans Prime Properties

      Four properties at Canal Street and S Clark for sale.
      3432 Canal St, New Orleans, LA 70119
      View Details
    • $1,600,000

      Corner Building with Redevelopment Potential

      6,099 SF building suitable for office, retail, or multifamily use.
      3434 Canal St, New Orleans, LA 70119
      View Details
    • $729,000
      3,084 SF

      Historic Treme Mixed-Use Quadruplex

      Income-producing mixed-use quadruplex in the historic Treme district.
      2500 Saint Phillip St, New Orleans, LA 70119
      View Details
    • New
      $850,000
      1,736 SF

      Versatile Commercial Property, New Orleans

      Mixed-use property with income potential in a high-traffic location.
      718 N Broad St, New Orleans, LA 70119
      View Details
    • $629,000
      4,141 SF

      Historic Treme District Investment Opportunity

      Income-producing four-unit property with commercial space potential in New Orleans.
      2440 Dumaine St, New Orleans, LA 70119
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      1,760 SF

      New Orleans Commercial Space For Rent

      Commercial space in high-traffic area suitable for various businesses.
      1019 N Broad St, New Orleans, LA 70119
      View Details
    • $4,500 /Mo
      3,250 SF

      New Retail Space on Greenway

      Retail shell in new residential complex, ready for buildout.
      3001 Conti St, New Orleans, LA 70119
      View Details
    • $22 SF/Yr
      3,000 SF

      Bienville Street Office/Retail Space

      Built-out office and retail space with ample parking.
      3909 Bienville St, New Orleans, LA 70119
      View Details
    • Contact for pricing
      6,936 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans.
      514 City Park Ave, New Orleans, LA 70119
      View Details
    • $22 SF/Yr
      2,393 SF

      Mid-City Restaurant Space Available

      Prime Banks St location, fully renovated.
      3200 Banks St, New Orleans, LA 70119
      View Details
    • $16 SF/Yr
      2,091 SF

      Mid-City Office Space Available

      New Orleans Office: 800-2,091 SF
      3100 Banks St, New Orleans, LA 70119
      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.
    2653 Palmyra St
    New Orleans, LA 70119
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.