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    2908 Carrollton Ave New Orleans, LA 70118
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    Property profile & analytics

    2908 Carrollton Ave, New Orleans, LA 70118

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    • Commercial real estate
    Off-Market
    Property ID
    US36-0354761
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2908 Carrollton Ave

    Property type
    Commercial real estate

    Description

    This exceptional 29,764 square foot commercial land parcel, located at 2908 S Carrollton Ave in New Orleans, Louisiana (zip code 70118), presents a unique investment opportunity. Zoned HU-RD2, the property offers significant potential for multi-unit development. The land's asking price is $995,000, translating to a land value of $33.43 per square foot. Its strategic location in a highly desirable area makes it ideal for a variety of projects, including but not limited to, multi-family residential development, senior living facilities, or other specialized care facilities. The flexibility of the zoning allows for the possibility of re-subdivision into numerous lots, enabling a high-density development plan. This prime site provides excellent accessibility and presents a diverse range of development possibilities for a discerning investor seeking a high-return project in a thriving New Orleans neighborhood. The property is currently vacant and ready for immediate development. Detailed zoning information and site plans are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.11674666
    Latitude
    29.95966235

    Comparable in this City

    • $549,000
      0.09 Acres

      Carrollton Avenue Mixed-Use Opportunity

      Commercial/residential property in vibrant Carrollton Ave area.
      1516 S Carrollton Ave, New Orleans, LA 70118
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      0.05 Acres

      Residential Land in New Orleans

      Multifamily lot for new construction in central location.
      3425 Eagle St, New Orleans, LA 70118
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      9,108 SF

      Development Opportunity Near Country Club

      1.6-acre lot with townhomes near New Orleans Country Club.
      9201 Palmetto St, New Orleans, LA 70118
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      0.08 Acres

      Residential Land in New Orleans

      Land available for multifamily construction in New Orleans, Louisiana.
      8728-30 Edinburgh St, New Orleans, LA 70118
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    • $36,000
      Pending

      Vacant Lot in New Orleans

      60 x 150 vacant lot with development potential.
      2721 General Ogden St, New Orleans, LA 70118
      View Details
    • Contact for pricing
      0.08 Acres

      New Orleans Multifamily Land Opportunity

      Land available for multifamily construction in New Orleans.
      8724 Edinburgh St, New Orleans, LA 70118
      View Details

    Similar Nearby for Sale

    • $549,000
      0.09 Acres

      Carrollton Avenue Mixed-Use Opportunity

      Commercial/residential property in vibrant Carrollton Ave area.
      1516 S Carrollton Ave, New Orleans, LA 70118
      View Details
    • Contact for pricing
      0.05 Acres

      Residential Land in New Orleans

      Multifamily lot for new construction in central location.
      3425 Eagle St, New Orleans, LA 70118
      View Details
    • $36,000
      Pending

      Vacant Lot in New Orleans

      60 x 150 vacant lot with development potential.
      2721 General Ogden St, New Orleans, LA 70118
      View Details
    • Contact for pricing
      0.08 Acres

      New Orleans Multifamily Land Opportunity

      Land available for multifamily construction in New Orleans.
      8724 Edinburgh St, New Orleans, LA 70118
      View Details
    • Contact for pricing
      9,108 SF

      Development Opportunity Near Country Club

      1.6-acre lot with townhomes near New Orleans Country Club.
      9201 Palmetto St, New Orleans, LA 70118
      View Details
    • Contact for pricing
      0.08 Acres

      Residential Land in New Orleans

      Land available for multifamily construction in New Orleans, Louisiana.
      8728-30 Edinburgh St, New Orleans, LA 70118
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
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      Retail Space in New Orleans

      Retail space available for rent in New Orleans, Louisiana.
      1404 Dante St, New Orleans, LA 70118
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    • $4,500 /Mo
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      Commercial Space for Lease

      Commercial space available for lease in New Orleans, LA.
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    • $5,750 /Mo
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      Retail Space on Oak Street

      Retail space available for lease in New Orleans, LA.
      8228 Oak St, New Orleans, LA 70118
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    • $2,500 /Mo
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      River Bend Cottage for Lease

      Uptown New Orleans raised cottage suitable for office or retail.
      724 Dublin St, New Orleans, LA 70118
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    • $675 /Mo

      Move-in Ready Uptown Office Space

      Private office spaces available in the heart of Uptown New Orleans.
      7611 Maple St, New Orleans, LA 70118
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    • $14 SF/Yr

      Warehouse Space with Parking Lot

      2360 SF warehouse with parking, prime location.
      8304 Oak St, New Orleans, LA 70118
      View Details
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    2908 Carrollton Ave
    New Orleans, LA 70118
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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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    2908 Carrollton Ave, New Orleans, LA, 70118
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