Add Listing
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

    624 Lowerline St New Orleans, LA 70118-5171

    • Apartment buildings
    • 14,544 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0664661
    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

    • Charbonnet Enterprises / Construction Company / General Contractor
    • Foliage Systems Inc / (Bike/Boat/Book/etc) Store / Florist
    • eternal visions records / Recording Studio

    Property Details for 624 Lowerline St

    Year built
    1915
    Lot size
    0.31 lot acres
    Property size
    14,544 SF
    Property type
    Apartment buildings
    APN
    716105207
    APU
    716105207

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,056,000
      Market price range: $1.06M - $2.45M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,795,000
      Current use
      AUTO REPAIR, GARAGE
      $1,705,000
      Change: -5% Conversion: Difficult
      MEDICAL BUILDING
      $1,680,000
      Change: -6% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,505,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.128
    Latitude
    29.9391
    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
    $26,930
    $51,780
    $78,710
    -
    $269,300
    $517,800
    $787,100

    Comparable in this City

    • Value Estimation by Request

      8816 Spruce St

      Multifamily properties
      8816 Spruce St, New Orleans, LA 70118
      View Details
    • Value Estimation by Request
      4,520 SF

      1509 Pne St

      APARTMENT HOUSE (5+ UNITS) • 4,520 SF
      1509 Pne St, New Orleans, LA 70118-5353
      View Details
    • Value Estimation by Request
      4,060 SF

      621 Broadway St

      APARTMENT HOUSE (5+ UNITS) • 4,060 SF
      621 Broadway St, New Orleans, LA 70118-5164
      View Details
    • Value Estimation by Request
      4,870 SF

      1206 Burdette St

      APARTMENT HOUSE (5+ UNITS) • 4,870 SF
      1206 Burdette St, New Orleans, LA 70118-3986
      View Details
    • Value Estimation by Request
      7,998 SF

      809 Cherokee St

      APARTMENT HOUSE (5+ UNITS) • 7,998 SF
      809 Cherokee St, New Orleans, LA 70118-5088
      View Details
    • Value Estimation by Request
      2,394 SF

      2115 Audubon St

      APARTMENT HOUSE (5+ UNITS) • 2,394 SF
      2115 Audubon St, New Orleans, LA 70118-5509
      View Details

    Similar Nearby for Sale

    • $2,000,000
      7,615 SF

      Uptown New Orleans 4-Plex

      Historic Charm, High Occupancy
      7836 St Charles Ave, New Orleans, LA 70118
      View Details
    • $1,350,000
      6,659 SF

      New Orleans Multifamily Investment Opportunity

      Well-maintained multifamily property near Tulane and Loyola Universities.
      2108 Broadway St, New Orleans, LA 70118
      View Details
    • $599,000

      New Orleans 6-Plex Investment

      High-yield multifamily property with upside.
      8816 Spruce St, New Orleans, LA 70118
      View Details
    • $825,000
      5,655 SF

      New Orleans Multifamily Investment Opportunity

      Multifamily property near Tulane and Loyola Universities.
      710 Burdette St, New Orleans, LA 70118
      View Details
    • $1,500,000
      6,659 SF

      Uptown New Orleans Multifamily

      9-Unit Value-Add Apartment Building
      2108 Broadway St, New Orleans, LA 70118
      View Details
    • $780,000
      3,437 SF

      Renovated Duplex with Pool

      Charming New Orleans duplex with modern updates and a pool.
      1815 Broadway St, New Orleans, LA 70118
      View Details

    Similar Nearby for Lease

    • New
      $2,500 /Mo
      1,700 SF

      River Bend Cottage for Lease

      Uptown New Orleans raised cottage suitable for office or retail.
      724 Dublin St, New Orleans, LA 70118
      View Details
    • Contact for pricing

      Prime Land on Airline Highway

      2+ acres of developable land in New Orleans for lease.
      9415 Airline Hwy, New Orleans, LA 70118
      View Details
    • $16 SF/Yr

      Riverbend Office/Retail Space Available

      Office/retail space in walking distance to amenities and streetcar.
      733 Dante St, New Orleans, LA 70118
      View Details
    • $14 SF/Yr

      Warehouse Space with Parking Lot

      2360 SF warehouse with parking, prime location.
      8304 Oak St, New Orleans, LA 70118
      View Details
    • $675 /Mo

      Move-in Ready Uptown Office Space

      Private office spaces available in the heart of Uptown New Orleans.
      7611 Maple St, New Orleans, LA 70118
      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.
    624 Lowerline St
    New Orleans, LA 70118-5171
    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.
    Sign Up Successful!
    You now have access to more from Realmo!