Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3940 Canal St New Orleans, LA 70119-6003

    • Investment properties
    • 8,141 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0298954
    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

    • Soniat Realty Inc / Real Estate Agency

    Property Details for 3940 Canal St

    Year built
    1940
    Lot size
    0.10 lot acres
    Property size
    8,141 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    105304206
    APU
    105304206

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,233,000
      Market price range: $461k - $1.26M
      AI Estimate
      $657,000
      Market price range: $261k - $657k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $745,000
      Current use
      RESTAURANT
      $1,540,000
      Change: +107% Conversion: Difficult
      RETAIL STORES
      $1,205,000
      Change: +62% Conversion: Easy
      OFFICE BUILDING
      $990,000
      Change: +33% Conversion: Easy
      AUTO REPAIR, GARAGE
      $955,000
      Change: +28% Conversion: Difficult
      MEDICAL BUILDING
      $940,000
      Change: +27% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $745,000
      Change: -0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0996
    Latitude
    29.9734
    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
    $10,880
    $103,310
    $114,190
    -
    $108,800
    $816,700
    $925,500

    Comparable in this City

    • Value Estimation by Request
      3,988 SF

      3200 Banks St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,988 SF
      3200 Banks St, New Orleans, LA 70119-7211
      View Details
    • Value Estimation
      $545,000
      4,539 SF

      2549 Banks St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,539 SF
      2549 Banks St, New Orleans, LA 70119-7406
      View Details
    • Value Estimation by Request
      3,658 SF

      624 City Park Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,658 SF
      624 City Park Ave, New Orleans, LA 70119-4327
      View Details
    • Value Estimation by Request
      1,966 SF

      213 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,966 SF
      213 Broad St, New Orleans, LA 70119-6413
      View Details
    • Value Estimation by Request
      5,473 SF

      1025 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,473 SF
      1025 Broad St, New Orleans, LA 70119-4212
      View Details
    • Value Estimation by Request
      3,766 SF

      4215 Carrollton Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,766 SF
      4215 Carrollton Ave, New Orleans, LA 70119-6819
      View Details

    Similar Nearby for Sale

    • $235,000
      1,623 SF

      Charming New Orleans Duplex

      Arts and Crafts-style duplex with income potential near Fairgrounds.
      2714 New Orleans St, New Orleans, LA 70119
      View Details
    • $425,000
      2,309 SF

      Mid-City Work-Live Building

      Versatile commercial and residential property in vibrant Mid-City location.
      4705 Iberville St, New Orleans, LA 70119
      View Details
    • $625,000
      3,084 SF

      Historic Treme Mixed-Use Quadruplex

      Income-producing mixed-use quadruplex in the historic Treme district.
      2500 Saint Phillip St, New Orleans, LA 70119
      View Details
    • $850,000
      1,736 SF

      Versatile Commercial Property, New Orleans

      Mixed-use property with income potential in a high-traffic location.
      718 N Broad St, New Orleans, LA 70119
      View Details
    • $299,000
      2,656 SF

      Historic Mixed-Use Property, New Orleans

      Century-old mixed-use property in New Orleans' Historic District.
      2833 Orleans Ave, New Orleans, LA 70119
      View Details
    • $599,000
      14,400 SF

      Mid-City New Orleans Parking Lot

      High-intensity mixed-use redevelopment opportunity.
      2413 Perdido St, New Orleans, LA 70119
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,091 SF

      Mid-City Office Space Available

      New Orleans Office: 800-2,091 SF
      3100 Banks St, New Orleans, LA 70119
      View Details
    • $22 SF/Yr
      2,393 SF

      Mid-City Restaurant Space Available

      Prime Banks St location, fully renovated.
      3200 Banks St, New Orleans, LA 70119
      View Details
    • $925,000
      8,680 SF

      Versatile Office/Warehouse Near I-10

      8,680 SF office/warehouse on 11,983 SF lot, prime location.
      316 S Bernadotte St, New Orleans, LA 70119
      View Details
    • $4 SF/Yr
      21,386 SF

      Lafitte Greenway Lot - Build to Suit

      Prime New Orleans commercial land, build-to-suit opportunity.
      2727 Conti St, New Orleans, LA 70119
      View Details
    • $17 SF/Yr
      10,186 SF

      Mid-City Office Space For Rent

      10,186 SF office space in Mid-City New Orleans.
      2515 Canal St, New Orleans, LA 70119
      View Details
    • $4,000 /Mo
      4,181 SF

      Mid City Restaurant Space Available

      Restaurant space for lease in prime Mid City location.
      125 N Carrollton Ave, New Orleans, LA 70119
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3940 Canal St
    New Orleans, LA 70119-6003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.