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    Unknown Harvey, LA 70058
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    Unknown, Harvey, LA 70058

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    • Commercial land
    • 2,541 SF
    For Sale
    $480,000
    View Listing →
    Three Buildings and Two Lots For Sale
    $480,000
    2,541 SF

    Three Buildings and Two Lots

    Three buildings and two vacant lots for sale.

    609 1ST Avenue, Harvey, LA 70058
    View Listing
    Property ID
    US36-0583503
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for Unknown

    Year built
    2000
    Property type
    Commercial land
    Property subtype
    Schools

    Description

    This includes the sale of 3 buildings and 2 vacant lots. Their descriptions are as follows: Building #1 is at the corner of 1st Ave and 6th street; 601 1st Ave., it's approximately 3276 sq ft. It's the yellow house. The building next to it, down 1st Ave., is 605 1st Ave., it's approximately 2475 s ... q. ft. And the next building down, on 1st Ave., is 609 !st Ave., it's approximately 1925 sq ft.. The first vacant lot is located on the northeast corner of 1st ave and 6th street. It's a former parking lot: cemented. It measures approximately 45x150. The other vacant lot is located behind the yellow house at 601 1st Ave, and the lot fronts 6th Street. It measures approximately 80x110, which consist of lot #'s 21,22,23. The three buildings were once classrooms. 601 has 3 rooms; 605 has 3 rooms, and 609 has 2 rooms. Each room has it's own bathroom. Lots of covered area and completely fenced-in. The buildings are under termite contract. The parking lot across the street from 601 is also fenced and has parking for 15 vehicles. The lot behind 601 was the former playyard. It is also fenced.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Harvey
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.069
    Latitude
    29.8673

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      Manhattan Blvd Development Opportunity

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      20,000 SF

      Cleared Land on Manhattan Boulevard

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      Versatile Commercial Space in Harvey

      Modern office and warehouse space in a high-traffic location.
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      20,000 SF

      Cleared Land on Manhattan Boulevard

      Cleared land with high traffic count near major retailers.
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      1,661 SF

      Corner Lot Commercial Property

      1,661 sq ft commercial property on corner lot.
      1924 4Th St, Harvey, LA 70058
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    • $120,000
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      Harvey, LA Vacant Land

      Cleared land in Harvey, LA, ready for development.
      Staten Ave, Harvey, LA 70058
      View Details
    • Contact for pricing

      Manhattan Blvd Development Opportunity

      Development tract on Westbank's premier commercial corridor.
      1901 Manhattan Blvd, Harvey, LA 70058
      View Details
    • $320,000
      3,040 SF

      Versatile Commercial Space in Harvey

      Modern office and warehouse space in a high-traffic location.
      405 Texaco Ln, Harvey, LA 70058
      View Details

    Similar Nearby for Lease

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      Westbank Retail Center Pad Site

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      Fountain Park

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      Westbank Industrial Corridor Location

      Industrial property with strong connectivity to regional transportation infrastructure.
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      Commercial Property for Lease

      Commercial property available for lease in Harvey, Louisiana.
      1208 Peters Rd, Harvey, LA 70058
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      Office Space in Rathborne Park

      9,800 SF office space available for lease.
      101 Pailet Dr, Harvey, LA 70058
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      Office Warehouse in Rathborne Park

      Office warehouse featuring ample parking and efficient access.
      181 Grefer Ln, Harvey, LA 70058
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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.

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