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2940 Royal St New Orleans, LA 70117

Showrooms Google Maps
63,380 SF 1.81 ac lot Built 1980
Entity Owned 11-yr Hold Absentee Owner ~ Est. High Equity
Estimated value (blended)
$475k
Range $428k – $523k (±10%)
Property ID US36-1416622

Property summary

AI-generated overview

This exceptional 63,244-square-foot warehouse, located at 2940 Royal Street in New Orleans' vibrant Bywater neighborhood, presents a significant industrial opportunity. The property boasts a single-tenant occupancy, offering immediate availability for a new lessee. The building is classified as Class B and features impressive ceiling heights ranging from 17 to 25 feet, providing ample vertical space for storage and operations. Eleven loading docks and one drive-in door ensure efficient loading and unloading capabilities. The expansive lot size of 87,092 square feet offers significant potential for expansion or outdoor storage. The property is zoned HU - MU, Historic Marigny/Treme/Bywater Mixed-Use District, within Orleans Parish, Louisiana, and has a zip code of 70117. The building's total square footage is 63,244 square feet, all of which is currently vacant. Net, Net, Net (NNN) charges are $1.14 per square foot annually, a rate guaranteed for a maximum of 24 months. The owner is open to considering leasing the entire building or a portion thereof. This prime location offers easy access to major transportation routes and is situated within a dynamic and rapidly developing area. This warehouse is ideal for businesses seeking a large, well-equipped space in a desirable New Orleans location.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1980
Total area 63,380 SF
Lot 1.81 ac (78,844 SF)
APN 39W106703
UPID US36-1416622

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.49M
Blend (final) Blend
$475k

Owner & transaction history

since 2015
1 recorded transaction
2015
$6.0M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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