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

    6132 Franklin Ave New Orleans, LA 70122-6426

    • Auto shops
    • 1,305 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Jul 10, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0495199
    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

    • Saloy Melanie M DDS / Dental Office
    • Chevron / Auto Repair Shop

    Property Details for 6132 Franklin Ave

    Year built
    1980
    Lot size
    0.20 lot acres
    Property size
    1,305 SF
    Property type
    Auto shops
    APN
    38W421104
    APU
    38W421104

    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
    -90.0522
    Latitude
    30.0222
    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
    $4,290
    $22,550
    $26,840
    -
    $42,900
    $150,300
    $193,200

    Comparable in this City

    • Value Estimation by Request
      5,723 SF

      2940 Franklin Ave

      AUTO REPAIR, GARAGE • 5,723 SF
      2940 Franklin Ave, New Orleans, LA 70122-5837
      View Details
    • Value Estimation by Request
      3,200 SF

      3032 Elysian Flds Ave

      AUTO REPAIR, GARAGE • 3,200 SF
      3032 Elysian Flds Ave, New Orleans, LA 70122-3627
      View Details
    • Value Estimation
      $1,035,000
      8,690 SF

      3151 Elysian Flds Ave

      AUTO REPAIR, GARAGE • 8,690 SF
      3151 Elysian Flds Ave, New Orleans, LA 70122
      View Details
    • Value Estimation by Request
      6,727 SF

      3622 Paris Ave

      AUTO REPAIR, GARAGE • 6,727 SF
      3622 Paris Ave, New Orleans, LA 70122-2381
      View Details
    • Value Estimation by Request
      1,800 SF

      3000 Franklin Ave

      AUTO REPAIR, GARAGE • 1,800 SF
      3000 Franklin Ave, New Orleans, LA 70122-5839
      View Details
    • Value Estimation by Request
      2,716 SF

      2335 Gentilly Blvd

      AUTO REPAIR, GARAGE • 2,716 SF
      2335 Gentilly Blvd, New Orleans, LA 70122-2334
      View Details

    Similar Nearby for Sale

    • $225,000

      Vacant Lots with Auto Shops

      Two vacant lots with auto shops in New Orleans, LA.
      4228 Touro St, New Orleans, LA 70122
      View Details
    • $225,000

      Unique Auto Shops with Vacant Lots

      Two auto shops with vacant lots in New Orleans.
      4228 Touro St, New Orleans, LA 70122
      View Details
    • $2,200,000
      14,940 SF

      Gentilly Blvd Mixed-Use Investment

      Fully Leased, High-Traffic Location
      3871 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • $1,600,000
      14,715 SF

      Gentilly Boulevard Two-Story Retail Building

      Two-story retail building in Gentilly Terrace neighborhood, renovated in 2019.
      3871 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • $1,600,000
      14,715 SF

      Gentilly Boulevard Retail Building

      Two-story retail building in Gentilly Terrace neighborhood.
      3871 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • $1,300,000
      6,815 SF

      Retail Property on Elysian Fields

      Retail property available for sale on Elysian Fields Avenue.
      3000 Elysian Fields Ave, New Orleans, LA 70122
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,975 SF

      Franklin Ave Retail End Cap

      New Construction, 1975 SF, Prime Location
      6750 Franklin Ave, New Orleans, LA 70122
      View Details
    • $22 SF/Yr
      1,800 SF

      Lake Oaks Plaza: Prime Retail Space

      1800 sq ft Executive Office/Retail
      6600 Franklin Ave, New Orleans, LA 70122
      View Details
    • $31 SF/Yr
      793 SF

      Gentilly Blvd Retail/Office Sublease

      Retail or office space available for sublease on Gentilly.
      3135 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • $3,950 /Mo
      1,565 SF

      Former Restaurant Space on Elysian

      Vacant restaurant space with parking on high-traffic Elysian Fields.
      2172 Abundance St, New Orleans, LA 70122
      View Details
    • $1.53 SF/Yr

      Gated Land Parcel For Rent

      Gated 3,840-SF land parcel near I-10 and I-610.
      2555 Constitution Pl, New Orleans, LA 70122
      View Details
    • $10,000 /Mo
      26,759 SF

      Corner Development Opportunity in Gentilly

      Highly visible corner lot available for development in New Orleans.
      2200 Allen Toussaint Blvd, New Orleans, LA 70122
      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.
    6132 Franklin Ave
    New Orleans, LA 70122-6426
    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.