Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5801 Read Blvd New Orleans, LA 70127-2612

    • Hotels
    • 65,184 SF
    • 1.73 lot acres
    OFF-MARKET
    Value Estimations
    $3,660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0227955
    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

    • Country Inn & Suites by Radisson, New Orleans I-10 East, LA / Hotel & Motel
    • ATM / Atm
    • Waffle House / Restaurant

    Property Details for 5801 Read Blvd

    Year built
    1980
    Construction
    CONCRETE BLOCKS
    Lot size
    1.73 lot acres
    Property size
    65,184 SF
    Property type
    Hotels
    APN
    39W016347
    APU
    39W016347

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,085,000
      6.5%
      $3,775,000
      7%
      $3,505,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -89.9735
    Latitude
    30.0355
    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
    $30,090
    $514,970
    $545,060
    -
    $300,900
    $3,433,100
    $3,734,000

    Comparable in this City

    • Value Estimation
      $2,595,000
      47,925 SF

      8400 I 10th Service Rd

      HOTEL • 47,925 SF
      8400 I 10th Service Rd, New Orleans, LA 70127-2412
      View Details
    • Value Estimation by Request
      48,692 SF

      10020 I-10 Service Rd

      Hotels • 48,692 SF
      10020 I-10 Service Rd, New Orleans, LA 70127
      View Details
    • Value Estimation
      $4,045,000
      72,592 SF

      10100 I 10th Service Rd

      HOTEL • 72,592 SF
      10100 I 10th Service Rd, New Orleans, LA 70127-2746
      View Details
    • Value Estimation
      $2,700,000
      48,692 SF

      10022 I 10th Service Rd

      HOTEL • 48,692 SF
      10022 I 10th Service Rd, New Orleans, LA 70127
      View Details
    • Value Estimation
      $1,085,000
      19,103 SF

      9300 Chef Menteur Hwy

      MOTEL • 19,103 SF
      9300 Chef Menteur Hwy, New Orleans, LA 70127-4138
      View Details
    • Value Estimation by Request
      8,291 SF

      8542 Chef Menteur Hwy

      MOTEL • 8,291 SF
      8542 Chef Menteur Hwy, New Orleans, LA 70127-4038
      View Details

    Similar Nearby for Sale

    • $231,000

      Multi-Unit Property in New Orleans

      Multi-unit property available for online auction in New Orleans.
      10930 Roger Dr, New Orleans, LA 70127
      View Details
    • $35,000
      0.37 Acres

      Vacant Land in New Orleans

      Residential land available in New Orleans, Louisiana.
      40332 Morrison Rd, New Orleans, LA 70127
      View Details
    • Contact for pricing
      12,400 SF

      Retail Building in Littlewoods Area

      12,400 SF retail building on 1.4 acres for sale.
      11020 Morrison Rd, New Orleans, LA 70127
      View Details
    • Contact for pricing
      5,400 SF

      Residential Lot in New Orleans

      Cleared 5,400 sq ft lot ready for construction.
      5018 Hauck Dr, New Orleans, LA 70127
      View Details
    • $400,000
      3.69 Acres

      New Orleans Vacant Land

      3.69 acres of C-1 zoned land for future development.
      5700 Deer Park Blvd, New Orleans, LA 70127
      View Details
    • Contact for pricing

      New Orleans Multifamily Investment Property

      47-unit multifamily property in New Orleans East, renovated in 2012.
      6780 Bundy Rd, New Orleans, LA 70127
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Center with Pylon Signage

      Attractive retail center with excellent visibility and various spaces.
      9900 Lake Forest Blvd, New Orleans, LA 70127
      View Details
    • Contact for pricing

      Warehouse with Fenced Laydown Yard

      10,840 SF warehouse with 16 docks on 1.99 acres.
      10900 Old Gentilly Rd, New Orleans, LA 70127
      View Details
    • Contact for pricing

      Retail Center with Excellent Visibility

      Attractive retail center with high visibility and ample parking.
      9900 Lake Forest Blvd, New Orleans, LA 70127
      View Details
    • $2,500 /Mo
      2,300 SF

      New Orleans Office For Lease

      Commercial building ideal for medical use in New Orleans.
      8736 Chef Menteur Hwy, New Orleans, LA 70127
      View Details
    • Contact for pricing

      New Orleans East Retail Center

      Retail center with suites available in New Orleans East.
      9820 Lake Forest Blvd, New Orleans, LA 70127
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      5.5k
    • Avg Time on site
      29 min
    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.
    5801 Read Blvd
    New Orleans, LA 70127-2612
    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.
    Sign Up Successful!
    You now have access to more from Realmo!