Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    623 Saint Peter St New Orleans, LA 70116-3269
    Back to Search
    Property profile & analytics

    623 Saint Peter St, New Orleans, LA 70116-3269

    View on Map
    • Investment properties
    • 2,340 SF
    • 0.02 lot acres
    Off-Market
    Last Sale Apr 12, 2024
    Property ID
    US36-0074627
    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

    • Investment properties

    Property Details for 623 Saint Peter St

    Year built
    1900
    Lot size
    0.02 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    207101309
    APU
    207101309

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 12, 2024 — 623 St Peter St LLC Nasir Khan Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0643
    Latitude
    29.9579
    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
    $7,560
    $41,390
    $48,950
    -
    $75,600
    $355,300
    $430,900

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      1383 Saint Bernard Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1383 Saint Bernard Ave, New Orleans, LA 70116-1454
      View Details
    • Value Estimation by Request
      3,576 SF

      2139 Orleans Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      2139 Orleans Ave, New Orleans, LA 70116
      View Details
    • Value Estimation by Request
      5,474 SF

      734 Orleans Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      734 Orleans Ave, New Orleans, LA 70116-3111
      View Details
    • Value Estimation by Request
      4,350 SF

      714 Orleans Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      714 Orleans Ave, New Orleans, LA 70116-3111
      View Details
    • Value Estimation by Request
      913 SF

      1401 Laharpe St

      OFFICE/RESIDENTIAL (MIXED USE)
      1401 Laharpe St, New Orleans, LA 70116-1404
      View Details
    • Value Estimation
      $580,000
      5,244 SF

      1101 Royal St

      OFFICE/RESIDENTIAL (MIXED USE)
      1101 Royal St, New Orleans, LA 70116-2705
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,000 SF

      Historic Mixed-Use Redevelopment Opportunity

      Historic corner property near French Quarter with redevelopment potential.
      1000 N Rampart St, New Orleans, LA 70116
      View Details
    • $1,160,000
      4,977 SF

      Historic Mixed-Use Building with Two Units

      Historic building offering two separate units, with substantial interior space and multiple redevelopment paths in a commercial zone.
      1009 N Rampart St, New Orleans, LA 70116
      View Details
    • $1,130,000
      4,814 SF

      Historic Treme Building For Sale

      Commercially zoned, 4,800 sq ft property near French Quarter.
      1029 N Rampart St, New Orleans, LA 70116
      View Details
    • $1,160,000
      4,977 SF

      Historic Treme Mixed-Use Building

      Historic commercially zoned building in Treme, near French Quarter.
      1009 N Rampart St, New Orleans, LA 70116
      View Details
    • $1,130,000
      4,814 SF

      Historic Treme Building For Sale

      Commercially zoned, 8-bedroom property near French Quarter.
      1029 N Rampart St, New Orleans, LA 70116
      View Details
    • $1,100,000
      4,754 SF

      French Quarter Portfolio Opportunity

      Rare portfolio sale in the heart of the French Quarter.
      1015 N Rampart St, New Orleans, LA 70116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,934 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans, LA.
      500 Saint Peter St, New Orleans, LA 70116
      View Details
    • $4,500 /Mo
      1,277 SF

      French Quarter Retail Space Available

      Retail space for lease in the heart of the French Quarter.
      1224 Decatur St, New Orleans, LA 70116
      View Details
    • Contact for pricing

      French Quarter Retail Space Available

      Prime retail space in the heart of the French Quarter.
      1132 Decatur St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      1,271 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans, Louisiana.
      1100 N Peters St, New Orleans, LA 70116
      View Details
    • $1.00 SF/Yr

      Office Space in New Orleans

      Office property with 17,613 square feet available for rent.
      2101 Orleans Ave, New Orleans, LA 70116
      View Details
    • Contact for pricing
      600 SF

      Retail Space in New Orleans

      Retail space available for lease in New Orleans, Louisiana.
      1301 Decatur St, New Orleans, LA 70116
      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.
    623 Saint Peter St
    New Orleans, LA 70116-3269
    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

    Thank You for Inquiry
    623 Saint Peter St, New Orleans, LA, 70116
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!