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    3 Barrington Dr New Orleans, LA 70128
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    Property profile & analytics

    3 Barrington Dr New Orleans, LA 70128

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    • Commercial real estate
    Off-Market
    Property ID
    US36-1433048
    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 3 Barrington Dr

    Property type
    Commercial real estate

    Description

    This exceptional 70,231.43 square foot development site, located at 3 Barrington Drive West in New Orleans, Louisiana, presents a compelling investment opportunity. Zoned C-2, this property offers significant flexibility for a variety of commercial uses. The expansive lot, measuring approximately 183.65 feet by 382.42 feet, is conveniently situated off Bullard Avenue and Interstate 10, providing excellent access and visibility. The asking price is $225,000. This represents a reasonably priced entry point into the vibrant New Orleans commercial real estate market. The property's location in Orleans County, zip code 70128, places it within easy reach of a substantial consumer base and established infrastructure. Detailed information, including a marketing brochure, is available. This is an ideal opportunity for developers seeking a well-located, sizable parcel to build upon. The property is classified as residential land, but its C-2 zoning opens doors to a wide range of commercial ventures. Don't miss this chance to acquire a strategically positioned lot in a thriving Louisiana city. Serious inquiries are encouraged.

    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
    State
    Louisiana
    Longitude
    -89.9607096
    Latitude
    30.0500188

    Comparable in this City

    • $185,000
      2,113 SF

      New Orleans Income-Producing Duplex

      Income-producing duplex in New Orleans, convenient location.
      14051-53 Wales St, New Orleans, LA 70128
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    • $474,400

      Land on Old Gentilly Road

      3.67 acres of land with GPD zoning.
      10102 Old Gentilly Rd, New Orleans, LA 70128
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    • $2,100,000
      19.17 Acres

      New Orleans Mixed-Use Land Investment

      19 Acres, I-10 Frontage, C-1/C-3 Zoning
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      Land For Sale

      Land available for purchase in New Orleans.
      7600 Stonewood St, New Orleans, LA 70128
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      Pending

      Vacant Lot For Sale

      Vacant lot available for development, subject to NORA approval.
      11411 Will Stutley Dr, New Orleans, LA 70128
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    • $43,022

      Land for Sale

      Land available in New Orleans, Louisiana.
      6120 E Muirfield Cir, New Orleans, LA 70128
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    Similar Nearby for Sale

    • $185,000
      2,113 SF

      New Orleans Income-Producing Duplex

      Income-producing duplex in New Orleans, convenient location.
      14051-53 Wales St, New Orleans, LA 70128
      View Details
    • $474,400

      Land on Old Gentilly Road

      3.67 acres of land with GPD zoning.
      10102 Old Gentilly Rd, New Orleans, LA 70128
      View Details
    • $2,100,000
      19.17 Acres

      New Orleans Mixed-Use Land Investment

      19 Acres, I-10 Frontage, C-1/C-3 Zoning
      10046 I-10 Service Rd, New Orleans, LA 70128
      View Details
    • Contact for pricing

      Land For Sale

      Land available for purchase in New Orleans.
      7600 Stonewood St, New Orleans, LA 70128
      View Details
    • Contact for pricing
      Pending

      Vacant Lot For Sale

      Vacant lot available for development, subject to NORA approval.
      11411 Will Stutley Dr, New Orleans, LA 70128
      View Details
    • $43,022

      Land for Sale

      Land available in New Orleans, Louisiana.
      6120 E Muirfield Cir, New Orleans, LA 70128
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      1,560 SF

      Retail Property with Ample Parking

      Highly visible retail space with I-10 frontage and parking.
      13040 I 10 Service Rd, New Orleans, LA 70128
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      1,342 SF

      Office Space Available For Rent

      Office space available for rent, totaling 1,342 square feet.
      7440 Wright Rd, New Orleans, LA 70128
      View Details
    • Contact for pricing

      I-10 Service Road Commercial Property

      Highly visible commercial property with ample parking and I-10 frontage.
      13040 I-10 Service Rd, New Orleans, LA 70128
      View Details
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    New Orleans, LA 70128
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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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