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

    3031 Sandra Dr New Orleans, LA 70114

    • Retail space
    • 2,000 SF
    • 0.26 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0327514
    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

    • Retail space

    Property Details for 3031 Sandra Dr

    Year built
    1975
    Lot size
    0.26 lot acres
    Property size
    2,000 SF
    Property type
    Retail space
    APN
    513512716
    APU
    513512716

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $410,000
      6.5%
      $380,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $204,000
      Market price range: $114k - $468k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $295,000
      Current use
      OFFICE BUILDING
      $265,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0256
    Latitude
    29.9284
    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
    $5,630
    $7,500
    $13,130
    -
    $56,300
    $50,000
    $106,300

    Comparable in this City

    • Value Estimation
      $255,000
      1,326 SF

      1141 Teche St

      RETAIL STORES (PERSONAL SERVICES) • 1,326 SF
      1141 Teche St, New Orleans, LA 70114-5737
      View Details
    • Value Estimation
      $230,000
      1,500 SF

      2933 Sandra Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,500 SF
      2933 Sandra Dr, New Orleans, LA 70114-6336
      View Details
    • Value Estimation
      $260,000
      3,120 SF

      1625 Newton St

      RETAIL STORES (PERSONAL SERVICES) • 3,120 SF
      1625 Newton St, New Orleans, LA 70114-2604
      View Details
    • Value Estimation
      $225,000
      4,722 SF

      3232 General Meyer Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,722 SF
      3232 General Meyer Ave, New Orleans, LA 70114-3205
      View Details
    • Value Estimation
      $490,000
      2,801 SF

      3801 General Degaulle Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,801 SF
      3801 General Degaulle Dr, New Orleans, LA 70114-8207
      View Details
    • Value Estimation
      $535,000
      2,982 SF

      3826 General Degaulle Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,982 SF
      3826 General Degaulle Dr, New Orleans, LA 70114-8208
      View Details

    Similar Nearby for Sale

    • $275,000
      1,713 SF

      Operating Salon For Sale

      Salon business and real estate available near General de Gaulle.
      3030 Halsey Ave, New Orleans, LA 70114
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    • $5,330,000
      13 SF

      NNN Retail Investment Opportunity

      NNN leased CVS with over 9.7 years remaining on lease.
      3621 General Degaulle Dr, New Orleans, LA 70114
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    • Contact for pricing
      1,768 SF

      Commercial Property on General DeGaulle

      Two parcels with development opportunity on General DeGaulle Drive.
      3637 General Degaulle Dr, New Orleans, LA 70114
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    • $699,000

      Commercial Building - High Demand Area

      Excellent investment opportunity in a high-demand New Orleans location.
      3232 General Meyer Blvd, New Orleans, LA 70114
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    • $169,500

      Algiers Point Two-Bedroom Condo

      Two-bedroom condo in historic Algiers Point, New Orleans.
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    • $150,000
      0.20 Acres

      Cleared Oversized Corner Lot

      Vacant land suitable for building a dream home or investment.
      251 Leboeuf St, New Orleans, LA 70114
      View Details

    Similar Nearby for Lease

    • $1,275 /Mo
      741 SF

      Multipurpose Room in Algiers Point

      Versatile space suitable for various uses in New Orleans.
      627 Opelousas Ave, New Orleans, LA 70114
      View Details
    • $34 SF/Yr
      1,016 SF

      Retail Space on General De Gaulle

      Retail space available for lease in New Orleans, Louisiana.
      3910 General Degaulle Dr, New Orleans, LA 70114
      View Details
    • $8 SF/Yr
      102,000 SF

      Retail Center on 4.84 Acres

      102,000 SF neighborhood center in Algiers, New Orleans.
      3600 Macarthur Blvd, New Orleans, LA 70114
      View Details
    • $12 SF/Yr
      605 SF

      Mixed-Use Center in Algiers

      Two-story center ideal for restaurants, retail, and office.
      3701-3771 General Degaulle Dr, New Orleans, LA 70114
      View Details
    • $16 SF/Yr
      13,939 SF

      River Commons Retail Center

      Westbank New Orleans Retail Space Available
      4021 Behrman Pl, New Orleans, LA 70114
      View Details
    • $34 SF/Yr
      1,016 SF

      Algiers Retail Center: Lease Space

      Prime Algiers retail space; new building, high visibility.
      3901 General Degaulle Dr, New Orleans, LA 70114
      View Details
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    3031 Sandra Dr
    New Orleans, LA 70114
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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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