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    3141 General Meyer Ave New Orleans, LA 70114-3253

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    Property profile & analytics

    3141 General Meyer Ave New Orleans, LA 70114-3253

    View on Map
    • Retail space
    • 0.38 lot acres
    Off-Market
    Last Sale Oct 21, 2024
    $700,000
    Property ID
    US36-0643653
    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
    $700,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Algiers Supermarket / Grocery & Convenience Store / Food Market

    Property Details for 3141 General Meyer Ave

    Lot size
    0.38 lot acres
    Property type
    Retail space
    APN
    513700709
    APU
    513700709

    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
    -90.0229
    Latitude
    29.9401
    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
    $3,290
    $29,760
    $33,050
    -
    $32,900
    $198,400
    $231,300

    Comparable in this City

    • Value Estimation by Request
      3,588 SF

      2932 General Degaulle Dr

      RETAIL STORES (PERSONAL SERVICES) • 3,588 SF
      2932 General Degaulle Dr, New Orleans, LA 70114-6440
      View Details
    • Value Estimation by Request
      6,384 SF

      3626 General Meyer Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,384 SF
      3626 General Meyer Ave, New Orleans, LA 70114-3350
      View Details
    • Value Estimation by Request
      288 SF

      1630 Erie St

      RETAIL STORES (PERSONAL SERVICES) • 288 SF
      1630 Erie St, New Orleans, LA 70114
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    • Value Estimation by Request
      2,316 SF

      338 Opelousas Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,316 SF
      338 Opelousas Ave, New Orleans, LA 70114-4326
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    • Value Estimation by Request
      1,920 SF

      3215 General Meyer Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      3215 General Meyer Ave, New Orleans, LA 70114-3204
      View Details
    • Value Estimation
      $910,000
      6,930 SF

      3865 General Degaulle Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,930 SF
      3865 General Degaulle Dr, New Orleans, LA 70114-8292
      View Details

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      3,400 SF

      Retail Property in New Orleans

      Freestanding NNN retail property with experienced tenant in New Orleans.
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      Commercial Property on General DeGaulle

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    Similar Nearby for Lease

    • $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
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      Retail Space in Algiers

      Retail space available in new development on General DeGaulle.
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      Mixed-Use Center in Algiers

      Two-story mixed-use center with restaurant, retail, and office opportunities.
      3701 General Degaulle Dr, New Orleans, LA 70114
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    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,500 square feet.
      3875 General Degaulle Dr, New Orleans, LA 70114
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    • $11 SF/Yr
      458 SF

      Mixed-Use Center in Algiers

      Two-story center ideal for restaurants, retail, and office.
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    • Contact for pricing

      Retail Space in River Commons

      Retail space available in a shopping center anchored by Walmart.
      4021 Behrman Pl, New Orleans, LA 70114
      View Details

    Property Visit Statistics

    • Visits by month
      3.3k
    • Visitors by month
      2.8k
    • Avg Time on site
      10 min
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    New Orleans, LA 70114-3253
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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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