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

    500 Soraparu St New Orleans, LA 70130

    • Specialty properties
    • 3,808 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0729916
    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

    • Raphael Academy / Special Education School / Non-Profit Organization

    Property Details for 500 Soraparu St

    Year built
    1960
    Lot size
    0.08 lot acres
    Property size
    3,808 SF
    Property type
    Specialty properties
    APN
    411103101
    APU
    411103101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0747
    Latitude
    29.9235
    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
    $5,230
    $3,770
    $9,000
    -
    $52,300
    $25,100
    $77,400

    Comparable in this City

    • Value Estimation by Request
      1,505 SF

      1510 Religious St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,505 SF
      1510 Religious St, New Orleans, LA 70130-4524
      View Details
    • Value Estimation
      $785,000
      27,988 SF

      1040 Peters St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 27,988 SF
      1040 Peters St, New Orleans, LA 70130-1770
      View Details
    • Value Estimation by Request
      9,644 SF

      1911 Magazine St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 9,644 SF
      1911 Magazine St, New Orleans, LA 70130-5015
      View Details
    • Value Estimation
      $855,000
      23,802 SF

      1040 Magazine St

      CHARITABLE ORGANIZATION • 23,802 SF
      1040 Magazine St, New Orleans, LA 70130-3825
      View Details
    • Value Estimation by Request

      1380 Prt Of New Orleans Pl

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1380 Prt Of New Orleans Pl, New Orleans, LA 70130-1805
      View Details
    • Value Estimation by Request
      6,484 SF

      1179 Constance St

      CHARITABLE ORGANIZATION • 6,484 SF
      1179 Constance St, New Orleans, LA 70130-4151
      View Details

    Similar Nearby for Sale

    • $1,850,000

      Magazine Street NNN Investment Opportunity

      Prime NNN retail investment property on Magazine Street for sale.
      4119 Magazine St, New Orleans, LA 70130
      View Details
    • $5,000,000
      16,352 SF

      Magazine Street Retail Portfolio

      Five prime New Orleans storefronts.
      1904 Magazine St, New Orleans, LA 70130
      View Details
    • $1,800,000
      8,655 SF

      Camp Street Creative Office

      New Orleans investment opportunity: 8,655 SF, 100% occupied.
      1240 Camp St, New Orleans, LA 70130
      View Details
    • $6,400,000
      15,282 SF

      French Quarter Multifamily Condo

      9-unit French Quarter investment opportunity.
      535 Iberville St, New Orleans, LA 70130
      View Details
    • $250,000

      Development Ready Vacant Lot

      Vacant lot zoned MU-2, ready for development in New Orleans.
      1713 Religious St, New Orleans, LA 70130
      View Details
    • $995,000
      4,510 SF

      Victorian Triplex Near Magazine Street

      Victorian triplex near Magazine Street, ideal for investment or residence.
      1014 4Th St, New Orleans, LA 70130
      View Details

    Similar Nearby for Lease

    • $8,000 /Mo

      Lower Garden District Outdoor Space

      Property with extensive outdoor area in revitalizing Lower Garden District.
      2375 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • $30 SF/Yr
      13,280 SF

      French Quarter Retail Condo

      Historic NOLA Retail Space Available
      210 Decatur St, New Orleans, LA 70130
      View Details
    • $22 SF/Yr
      5,847 SF

      St. Charles Ave Retail Opportunity

      Prime New Orleans Retail Space
      1400 St Charles Ave, New Orleans, LA 70130
      View Details
    • $18 SF/Yr
      36,000 SF

      St. Charles Ave Office Suites

      Historic Charm, Modern Office Space
      1820 St. Charles Ave, New Orleans, LA 70130
      View Details
    • $30 SF/Yr
      1,642 SF

      Prime Retail Space, New Orleans

      1642 rsf, Streetcar & Parade Route
      747 St Charles Ave, New Orleans, LA 70130
      View Details
    • $42 SF/Yr
      20,335 SF

      Warehouse District Retail Space Available

      Prime corner location with streetcar access and indoor parking.
      757 St Charles Ave, New Orleans, LA 70130
      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.
    500 Soraparu St
    New Orleans, LA 70130
    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.