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

    3501 General Meyer Ave New Orleans, LA 70114-3347

    • Auto shops
    • 2,877 SF
    • 0.68 lot acres
    OFF-MARKET
    Last Sale
    Mar 30, 2022
    $550,000
    Value Estimations
    $400,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-1305224
    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

    • Texaco New Orleans / Convenience Store / Diesel Fuel Supplier

    Property Details for 3501 General Meyer Ave

    Year built
    1960
    Lot size
    0.68 lot acres
    Property size
    2,877 SF
    Property type
    Auto shops
    APN
    513705404
    APU
    513705404

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $345,000
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $568,000
      Market price range: $148k - $568k
      AI Estimate
      $375,000
      Market price range: $127k - $375k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $335,000
      Current use
      RETAIL STORES
      $425,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $385,000
      Change: +14% Conversion: Difficult
      MEDICAL BUILDING
      $335,000
      Change: -1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $300,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0187
    Latitude
    29.9385
    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
    $10,380
    $66,930
    $77,310
    -
    $103,800
    $446,200
    $550,000

    Comparable in this City

    • Value Estimation
      $225,000
      3,024 SF

      1926 Newton St

      AUTO REPAIR, GARAGE • 3,024 SF
      1926 Newton St, New Orleans, LA 70114-1512
      View Details
    • Value Estimation
      $305,000
      3,750 SF

      3030 General Degaulle Dr

      AUTO REPAIR, GARAGE • 3,750 SF
      3030 General Degaulle Dr, New Orleans, LA 70114-6536
      View Details
    • Value Estimation by Request
      1,875 SF

      3210 Lamarque St

      AUTO REPAIR, GARAGE • 1,875 SF
      3210 Lamarque St, New Orleans, LA 70114
      View Details
    • Value Estimation
      $250,000
      6,614 SF

      3665 General Degaulle Dr

      AUTO REPAIR, GARAGE • 6,614 SF
      3665 General Degaulle Dr, New Orleans, LA 70114-6716
      View Details
    • Value Estimation
      $430,000
      2,175 SF

      1531 Newton St

      AUTO REPAIR, GARAGE • 2,175 SF
      1531 Newton St, New Orleans, LA 70114-2518
      View Details
    • Value Estimation
      $205,000
      1,008 SF

      3803 General Degaulle Dr

      AUTO REPAIR, GARAGE • 1,008 SF
      3803 General Degaulle Dr, New Orleans, LA 70114-8207
      View Details

    Similar Nearby for Sale

    • $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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    • $275,000
      1,713 SF

      Operating Salon For Sale

      Salon business and real estate available near General de Gaulle.
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    • Contact for pricing
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      Commercial Property on General DeGaulle

      Two parcels with development opportunity on General DeGaulle Drive.
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    • $5,330,000
      13 SF

      NNN Retail Investment Opportunity

      NNN leased CVS with over 9.7 years remaining on lease.
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    • $169,500

      Algiers Point Two-Bedroom Condo

      Two-bedroom condo in historic Algiers Point, New Orleans.
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      2,417 SF

      Medical/Professional Office Complex For Sale

      Medical/professional office complex with leased space and owner-user opportunity.
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    Similar Nearby for Lease

    • $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
    • $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
    • $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
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    • $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
    • $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
    • $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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    New Orleans, LA 70114-3347
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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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