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

    605 Wilker Neal Ave River Ridge, LA 70123

    • Commercial real estate
    • 2,250 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0443004
    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

    • Commercial real estate

    Property Details for 605 Wilker Neal Ave

    Property size
    2,250 SF
    Property type
    Commercial real estate

    Description

    This River Ridge, Louisiana duplex at 605 Wilker Neal Ave offers a compelling investment opportunity. Priced at $185,000, this multifamily property boasts a total of 2,250 square feet and comprises two units, each featuring three bedrooms and one bathroom. One unit is currently occupied, while the other is vacant, presenting a significant value-add opportunity for a new owner. The vacant unit allows for immediate rent increase potential or the possibility of owner occupancy. The property's convenient location between Jefferson Highway and Airline Highway provides easy access to both major thoroughfares, approximately two minutes to each. Detailed financial information, including rent roll, income, and expense data, is available upon request. This property presents a strong potential for income generation and appreciation. The property is located in Jefferson Parish, Louisiana, zip code 70123.

    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
    River Ridge
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.2342985
    Latitude
    29.9741833

    Comparable in this City

    • $595,000
      30,895 SF

      Jefferson Highway Harahan Commercial Land

      Multifamily properties • 30,895 SF
      7463 Jefferson Hwy, Harahan, LA 70123
      View Details
    • $184,000

      Residential Land in Harahan, LA

      Vacant lot near the river with house plans available.
      104 Research Dr, Harahan, LA 70123
      View Details
    • $1,400,000
      9,065 SF

      Harahan Office Building For Sale

      Solid office building with rental space and parking.
      1425 Sams Ave, Harahan, LA 70123
      View Details
    • $162,900
      7,300 SF

      Cleared Lot in River Ridge

      Prime lot ready for construction in a desirable location.
      Tullulah Ave, River Ridge, LA 70123
      View Details
    • $985,000
      8,000 SF

      Prime Pine Lake Retail Space

      950 sq ft, 40 parking spaces
      2030 Dickory Ave, Elmwood, LA 70123
      View Details
    • $410,000

      Residential Lot in Harahan

      Expansive residential lot in a peaceful Harahan community.
      143 Colonial Club Dr, Harahan, LA 70123
      View Details

    Similar Nearby for Sale

    • $595,000
      30,895 SF

      Jefferson Highway Harahan Commercial Land

      Multifamily properties • 30,895 SF
      7463 Jefferson Hwy, Harahan, LA 70123
      View Details
    • $184,000

      Residential Land in Harahan, LA

      Vacant lot near the river with house plans available.
      104 Research Dr, Harahan, LA 70123
      View Details
    • $162,900
      7,300 SF

      Cleared Lot in River Ridge

      Prime lot ready for construction in a desirable location.
      Tullulah Ave, River Ridge, LA 70123
      View Details
    • $1,400,000
      9,065 SF

      Harahan Office Building For Sale

      Solid office building with rental space and parking.
      1425 Sams Ave, Harahan, LA 70123
      View Details
    • $3,200,000
      16,428 SF

      Harahan Retail Investment Opportunity

      93% leased retail center anchored by Dollar Tree.
      8225-8233 Jefferson Hwy, Harahan, LA 70123
      View Details
    • $160,000

      Cleared Double Lot Ready

      Cleared 60x120 double lot ready for new construction.
      478 Oak Ave, Harahan, LA 70123
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      46,614 SF

      Elmwood Office Suites for Lease

      Prime Elmwood Office Space Available
      824 Elmwood Park Blvd, Elmwood, LA 70123
      View Details
    • $10 SF/Yr
      102,209 SF

      Jefferson Business Center Warehouse

      Elmwood, LA industrial warehouse space for lease.
      520 Elmwood Park Blvd, Elmwood, LA 70123
      View Details
    • $6 SF/Yr
      29,900 SF

      Industrial Building with Climate Control

      Industrial building featuring climate-controlled warehouse space and gated yard.
      5635 Powell St, Jefferson, LA 70123
      View Details
    • Contact for pricing

      Emwood Business Park Land Parcel

      5-acre leveled land parcel in Emwood Business Park for lease.
      1320 Sams Ave, New Orleans, LA 70123
      View Details
    • $16 SF/Yr
      7,350 SF

      New Orleans Office Space Available

      1,500 sq ft, Second Floor Walkup
      1536 Sams Ave, New Orleans, LA 70123
      View Details
    • $3,500 /Mo
      3,000 SF

      Harahan Flex Space For Rent

      3,000 SF flex space with retail appeal available now.
      1539 River Oaks Rd East, Harahan, LA 70123
      View Details
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    605 Wilker Neal Ave
    River Ridge, LA 70123
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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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