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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2813 Martin Luther King Jr Blvd New Orleans, LA 70113

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0457251
    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 2813 Martin Luther King Jr Blvd

    Property type
    Commercial real estate
    APN
    101111203, 101111204, 101111205, 101111206, 101111207, 101111209, 101111210

    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
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.086876
    Latitude
    29.945844

    Comparable in this City

    • $75,000
      0.07 Acres

      Vacant Land in Central City

      Vacant lot in New Orleans for development or investment.
      1234 S Robertson St, New Orleans, LA 70113
      View Details
    • $31,900
      0.07 Acres

      New Orleans Vacant Land Parcels

      Two residential lots available for new construction in New Orleans.
      2822 Thalia St, New Orleans, LA 70113
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    • $79,900
      0.07 Acres

      Cleared Corner Lot Investment

      Cleared corner lot ready for development in New Orleans.
      2139 S Liberty St, New Orleans, LA 70113
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    • $2,550,000
      12,246 SF

      Julia Street CBD Development Site

      Prime New Orleans land, 12,246 SF, $2.55M
      923 Julia St, New Orleans, LA 70113
      View Details
    • Contact for pricing
      0.07 Acres

      New Orleans Vacant Land Parcels

      Two permitted lots in New Orleans, plans included, pilings in place.
      2809 Thalia St, New Orleans, LA 70113
      View Details
    • $69,000
      0.07 Acres

      New Orleans Vacant Land Available

      Vacant lot ready for new construction in New Orleans.
      2506 Clio St, New Orleans, LA 70113
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.07 Acres

      New Orleans Vacant Land Parcels

      Two permitted lots in New Orleans, plans included, pilings in place.
      2809 Thalia St, New Orleans, LA 70113
      View Details
    • $69,000
      0.07 Acres

      New Orleans Vacant Land Available

      Vacant lot ready for new construction in New Orleans.
      2506 Clio St, New Orleans, LA 70113
      View Details
    • $75,000
      0.07 Acres

      Vacant Land in Central City

      Vacant lot in New Orleans for development or investment.
      1234 S Robertson St, New Orleans, LA 70113
      View Details
    • $31,900
      0.07 Acres

      New Orleans Vacant Land Parcels

      Two residential lots available for new construction in New Orleans.
      2822 Thalia St, New Orleans, LA 70113
      View Details
    • $79,900
      0.07 Acres

      Cleared Corner Lot Investment

      Cleared corner lot ready for development in New Orleans.
      2139 S Liberty St, New Orleans, LA 70113
      View Details
    • $2,550,000
      12,246 SF

      Julia Street CBD Development Site

      Prime New Orleans land, 12,246 SF, $2.55M
      923 Julia St, New Orleans, LA 70113
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      61,218 SF

      Prime New Orleans Office Space

      Loyola Ave Office Tower, 8 Suites Available
      701 Loyola Ave, New Orleans, LA 70113
      View Details
    • $32 SF/Yr
      262,515 SF

      South Market Retail Opportunity

      Prime New Orleans retail space available.
      611 O'keefe Ave, New Orleans, LA 70113
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    • $2,700 /Mo
      1,086 SF

      Renovated Commercial Space For Rent

      Newly renovated commercial space with open layout in New Orleans.
      2112 Baronne St, New Orleans, LA 70113
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    • $2,750 /Mo
      2,000 SF

      Renovated Retail Space in Downtown Center

      Highly visible renovated retail space in a well-maintained downtown center.
      1029 Oretha C Haley Blvd, New Orleans, LA 70113
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    • Contact for pricing
      27,058 SF

      Prime New Orleans Retail Space

      Historic 5-Story Building, 27,058 SF
      818 Howard Ave, New Orleans, LA 70113
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    • $40 SF/Yr
      111,150 SF

      The Standard at South Market Retail

      Prime New Orleans Retail Space Available
      1001 Julia St, New Orleans, LA 70113
      View Details
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    2813 Martin Luther King Jr Blvd
    New Orleans, LA 70113
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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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