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    Property profile & analytics

    2817 Napoleon Ave New Orleans, LA 70115

    • Office buildings
    • 4,872 SF
    • 0.17 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    Jul 26, 2021
    $1,750,000
    Value Estimations
    $1,320,000
    Cap Rate Potential
    4.2%
    Office buildings
    Location Intelligence
    Property ID
    US36-2547451
    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

    • Raj Sohi PT / Physical Therapist
    • Evans + Frampton Orthodontics / Orthodontist

    Property Details for 2817 Napoleon Ave

    Year built
    1960
    Lot size
    0.17 lot acres
    Property size
    4,872 SF
    Property type
    Office buildings
    APN
    614336002
    APU
    614336002

    Description

    This beautifully renovated, single-story medical office building totaling 5,229 square feet is available for lease. Located at 2817 Napoleon Avenue, New Orleans, LA 70115, this property offers 1,940 square feet of vacant space, perfect for a medical or professional office. The building, renovated in 2022, enjoys excellent visibility and signage directly across from Ochsner Baptist's main campus. A portion of the building is currently occupied by Evans & Frampton Orthodontics, creating a synergistic environment. The available space is delivered in modified shell condition, with the landlord open to negotiating a more substantial build-out. A tenant improvement allowance is available. The lease includes four dedicated parking spaces, and prominent signage opportunities are available on the building and a soon-to-be-installed pylon sign visible from Napoleon Avenue. The building is zoned HU-B1 and is conveniently located in Uptown's medical district, providing easy access to I-10 and downtown via Claiborne Avenue or St. Charles Avenue. Its proximity to the Uptown and Garden District neighborhoods adds to its appeal. The cross streets are Willow Street and Clara Street.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,445,000
      ML approach
      $1,480,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,020,000
      6.5%
      $940,000
      7%
      $875,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,600,000
      COMMERCIAL (GENERAL)
      $875,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.1029
    Latitude
    29.9386
    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
    $12,240
    $75,500
    $87,740
    -
    $122,400
    $503,300
    $625,700

    Comparable in this City

    • Value Estimation
      $240,000
      4,460 SF

      4300 Magnolia St

      OFFICE BUILDING • 4,460 SF
      4300 Magnolia St, New Orleans, LA 70115-6200
      View Details
    • Value Estimation
      $200,000
      8,823 SF

      3706 Prytania St

      OFFICE BUILDING • 8,823 SF
      3706 Prytania St, New Orleans, LA 70115-3733
      View Details
    • Value Estimation
      $215,000
      4,459 SF

      5005 Magazine St

      OFFICE BUILDING • 4,459 SF
      5005 Magazine St, New Orleans, LA 70115-1736
      View Details
    • Value Estimation
      $205,000
      11,892 SF

      1205 Louisiana Ave

      OFFICE BUILDING • 11,892 SF
      1205 Louisiana Ave, New Orleans, LA 70115-2432
      View Details
    • Value Estimation
      $210,000
      0.07 Acres

      4109 Magazine St

      OFFICE BUILDING • 0.07 Acres
      4109 Magazine St, New Orleans, LA 70115
      View Details
    • Value Estimation
      $265,000
      2,157 SF

      1139 Arabella St

      OFFICE BUILDING • 2,157 SF
      1139 Arabella St, New Orleans, LA 70115-3101
      View Details

    Similar Nearby for Sale

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    • $433,000
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    • $181,000
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      New Orleans Medical Office Condo

      Prime Medical Office Space, 777 SF
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    • $1,975,000
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      Willow Street Medical Office Site

      Prime Uptown New Orleans Medical Development
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    Similar Nearby for Lease

    • $28 SF/Yr
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      Medical office condo, prime location.
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    • $30 SF/Yr
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      Medical offices
      3525 Prytania St, New Orleans, LA 70115
      View Details
    • $9 SF/Yr
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      Uptown New Orleans Outparcel Opportunity

      Prime Uptown location, 41,000 sqft available.
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      View Details
    • $25 SF/Yr
      5,229 SF

      Uptown Medical Office Space for Lease

      1,940 SF Medical Office in New Orleans
      2817 Napoleon Ave, New Orleans, LA 70115
      View Details
    • $2,200 /Mo
      1,031 SF

      Uptown New Orleans Commercial Space

      Centrally located commercial space suitable for office, retail, or restaurant.
      4618 Dryades St, New Orleans, LA 70115
      View Details
    • $1.00 SF/Yr
      75,600 SF

      Uptown New Orleans Medical Office

      Class A Medical Building, 9 Suites Available
      2633 Napoleon Ave, New Orleans, LA 70115
      View Details
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    New Orleans, LA 70115
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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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