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

    622 Julia St New Orleans, LA 70130-3710

    • Investment properties
    • 6,453 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Oct 03, 2023
    $1,200,000
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    9.4%
    Investment properties
    Location Intelligence
    Property ID
    US36-0519560
    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

    • Investment properties

    Property Details for 622 Julia St

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    6,453 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    103103920
    APU
    103103920

    Description

    This exceptional 785-square-foot ground-floor retail space at 622 Julia Street in New Orleans' Warehouse District is currently undergoing renovations to be showroom-ready. Located in a high-traffic area with ample street parking, this single-tenant space offers unparalleled visibility and foot traffic. Its prime location, a half block from the intersection of Julia and St. Charles Streets, benefits from approximately 3.5 million trolley riders and over 7 million vehicles annually. The surrounding area boasts a dense concentration of hotels, multifamily residences, offices, art galleries, and popular tourist destinations including the National WWII Museum, the Convention Center, and the Mississippi River. This versatile space is ideal for a variety of retail uses and is zoned CBD-5 – Urban Core Neighborhood Lower Intensity Mixed-Use District. The lease is a NNN type. The total building size is 6,453 square feet. This property presents a unique opportunity to establish a thriving business in a vibrant and highly sought-after location within Orleans Parish.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $930,000
      ML approach
      $905,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,450,000
      6.5%
      $1,340,000
      7%
      $1,245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,062,000
      Market price range: $563k - $1.79M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,350,000
      Current use
      OFFICE BUILDING
      $1,510,000
      Change: +12% Conversion: Easy
      RESTAURANT
      $1,220,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0712
    Latitude
    29.9456
    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
    $16,380
    $61,970
    $78,350
    -
    $163,800
    $531,900
    $695,700

    Comparable in this City

    • Value Estimation by Request
      1.46 Acres

      730 Julia St

      OFFICE/RESIDENTIAL (MIXED USE) • 1.46 Acres
      730 Julia St, New Orleans, LA 70130-3794
      View Details
    • Value Estimation by Request
      2,931 SF

      1522 Magazine St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,931 SF
      1522 Magazine St, New Orleans, LA 70130-4724
      View Details
    • Value Estimation
      $810,000
      5,244 SF

      1924 Magazine St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,244 SF
      1924 Magazine St, New Orleans, LA 70130-5016
      View Details
    • Value Estimation
      $540,000
      3,680 SF

      1900 Magazine St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,680 SF
      1900 Magazine St, New Orleans, LA 70130-5064
      View Details
    • Value Estimation
      $590,000
      4,921 SF

      913 Magazine St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,921 SF
      913 Magazine St, New Orleans, LA 70130-3813
      View Details
    • Value Estimation
      $815,000
      7,350 SF

      619 Toulouse St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,350 SF
      619 Toulouse St, New Orleans, LA 70130-2143
      View Details

    Similar Nearby for Sale

    • $1,100,000
      3,300 SF

      French Quarter Mixed-Use Building

      Three-story building with retail and apartments in prime location.
      228 Chartres St, New Orleans, LA 70130
      View Details
    • $495,000
      1,817 SF

      Historic Cottage with Mixed-Use Zoning

      Historic cottage near CBD with mixed-use zoning and parking.
      1630 Robert C. Blakes Sr Dr, New Orleans, LA 70130
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    • New
      $999,999
      3,557 SF

      St. Charles Avenue Mixed-Use Property

      Mixed-use property on St. Charles Avenue with commercial and residential units.
      1216-18 Saint Charles Ave, New Orleans, LA 70130
      View Details
    • $1,750,000
      6,083 SF

      Julia Street Restaurant Opportunity

      Prime New Orleans Warehouse District Retail Space
      527 Julia St, New Orleans, LA 70130
      View Details
    • $2,750,000
      13,622 SF

      Historic Mixed-Use Building, New Orleans

      Historic 13,622 SF mixed-use building in the Warehouse District.
      717 Camp St, New Orleans, LA 70130
      View Details
    • $3,500,000
      6,402 SF

      Warehouse District Mixed-Use Gem

      New Orleans Bar/Restaurant/Events Space. $3.5M
      1131 Tchoupitoulas St, New Orleans, LA 70130
      View Details

    Similar Nearby for Lease

    • $12,500 /Mo
      8,602 SF

      Renovated Mixed-Use Property For Lease

      Versatile property with commercial space and luxury living quarters.
      3157 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • $19 SF/Yr
      672,742 SF

      Pan-American Life Center Office Space

      Prestigious New Orleans CBD office tower, flexible space available.
      601 Poydras St, New Orleans, LA 70130
      View Details
    • $35 SF/Yr
      6,400 SF

      Uptown New Orleans Retail Space

      Prime Retail, Warehouse District, New Orleans
      821 Tchoupitoulas St, New Orleans, LA 70130
      View Details
    • $35 SF/Yr
      4,131 SF

      Warehouse District Retail Spaces

      Prime New Orleans Retail/Restaurant Opportunity
      400 Lafayette St, New Orleans, LA 70130
      View Details
    • $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
    • $19 SF/Yr
      11,440 SF

      New Orleans CBD Commercial Space

      11,440 SF Creative Office, Prime Location
      230 Carondelet St, New Orleans, LA 70130
      View Details
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    622 Julia St
    New Orleans, LA 70130-3710
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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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