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    Property profile & analytics

    603 Julia St New Orleans, LA 70130

    • Retail space
    • 3,613 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0628532
    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

    • Humphreys & Partners Architects / Landscape Architect / Architecture Firm

    Property Details for 603 Julia St

    Property size
    3,613 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional New Orleans mixed-use building, located at 603 Julia Street, presents a compelling investment opportunity. The 3,613 square foot building sits on a 2,032 square foot lot and is zoned CBD-5, offering considerable flexibility for various uses. The property features three units: a ground floor storefront ideal for retail or office space, a spacious two-bedroom, two-bathroom apartment, and a cozy one-bedroom, one-bathroom apartment. This two-story Class B building provides a blend of commercial and residential space, perfect for owner-occupancy or investment. The asking price is $999,999, translating to $276.78 per square foot. Situated in the heart of New Orleans' vibrant city center, this property offers convenient access to numerous amenities and a dynamic urban lifestyle. Annual property taxes are $9,801.23. This unique property is ready for its next chapter, offering a rare combination of income potential and prime location. The building's solid construction and versatile layout make it an attractive proposition for discerning buyers seeking a strong return on investment in a thriving market. This is a chance to acquire a well-maintained property in a desirable location with significant upside potential.

    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 Parish
    State
    Louisiana
    Longitude
    -90.0706073
    Latitude
    29.9458701

    Comparable in this City

    • $150,000

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    • $5,000,000
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      Magazine Street Retail Portfolio

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      Magazine Street NNN Investment Opportunity

      Prime NNN retail investment property on Magazine Street for sale.
      4119 Magazine St, New Orleans, LA 70130
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    • $2,350,000
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      French Quarter Development Gem

      Historic building, prime location, high potential.
      211 Decatur St, New Orleans, LA 70130
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    • $123,456
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      Canal Street Retail Development Opportunity

      Three contiguous buildings on Canal Street in New Orleans.
      730/32/38 Canal St, New Orleans, LA 70130
      View Details

    Similar Nearby for Sale

    • $150,000

      Prime Warehouse District Storefront

      Turn-key beauty salon; 13 booths; high-rent district.
      416 Girod St, New Orleans, LA 70130
      View Details
    • $415,000

      Retail Condo in Central Business District

      Retail condo in high-traffic area near French Quarter.
      736 Union 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
    • $1,850,000

      Magazine Street NNN Investment Opportunity

      Prime NNN retail investment property on Magazine Street for sale.
      4119 Magazine St, New Orleans, LA 70130
      View Details
    • $2,350,000
      10,287 SF

      French Quarter Development Gem

      Historic building, prime location, high potential.
      211 Decatur St, New Orleans, LA 70130
      View Details
    • $123,456
      12,345 SF

      Canal Street Retail Development Opportunity

      Three contiguous buildings on Canal Street in New Orleans.
      730/32/38 Canal St, New Orleans, LA 70130
      View Details

    Similar Nearby for Lease

    • $2,950 /Mo
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    • $30 SF/Yr
      2,314 SF

      St. Charles Ave Retail Space Available

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      1224 St Charles Ave, New Orleans, LA 70130
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      Magazine Retail Space - Former Orange Theory Fitness

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      618 Magazine St, New Orleans, LA 70130
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    • $25 SF/Yr
      1,745 SF

      Warehouse District Retail Condo

      1,745 sq ft, prime location, high visibility
      400 Julia St, New Orleans, LA 70130
      View Details
    • Contact for pricing
      2,960 SF

      Retail Space on Tchoupitoulas Street

      Retail space available for rent on Tchoupitoulas Street.
      852-860 Tchoupitoulas St, New Orleans, LA 70130
      View Details
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    603 Julia St
    New Orleans, LA 70130
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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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