Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6600 Franklin Ave New Orleans, LA 70122
    Back to Search
    Property profile & analytics

    6600 Franklin Ave, New Orleans, LA 70122

    View on Map
    • Grocery and convenience stores
    • 174,859 SF
    • 9.23 lot acres
    For Lease
    $22 SF/Yr
    View Listing →
    Corner Commercial Space Available For Lease
    $22 SF/Yr

    Corner Commercial Space Available

    Commercial space at Franklin Ave and Leon C Simon Blvd.

    6600 Franklin Ave, New Orleans, LA 70122
    View Listing
    Property ID
    US36-0736787
    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

    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • Krab Kingz Seafood NOLA / Restaurant
    • OneMain Financial / Loan Service
    • Krewe of Kids Pediatrics / Pediatrician / Medical Clinic
    • Pamper & Polish Nails / Nail Salon

    Property Details for 6600 Franklin Ave

    Year built
    1994
    Lot size
    9.23 lot acres
    Property type
    Grocery and convenience stores
    APN
    38W419303
    APU
    38W419303

    Description

    Lake Oaks Plaza presents a remarkable 1,800 square foot commercial space, ideally situated at the high-traffic corner of Franklin Avenue and Leon C Simon Boulevard in the Greater New Orleans submarket. Currently vacant, this property offers a unique opportunity for businesses seeking a prominent location within an established retail center. The space is zoned C-2, providing flexibility for a variety of commercial uses. Previously occupied by State Farm, the building boasts excellent visibility and accessibility. This is a chance to become part of a thriving commercial hub alongside reputable national brands such as Rouses Market, CVS, Smoothie King, PJ's Coffee, and Quest Diagnostics. The property's 1,800 square feet provide ample space for a variety of business needs, making it an attractive option for both established companies and new ventures. The multiple tenancy allows for flexibility in lease terms and potential for expansion. The property's APN is 38W419303. This is a rare opportunity to secure a prime location in a high-demand area, offering significant potential for growth and success. The property is categorized as Retail, Office, and Land, providing versatility for potential tenants. Don't miss this chance to establish your business in a vibrant and successful commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $26,460,000
      Market price range: $9.99M - $40.9M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $25,890,000
      Current use
      OFFICE BUILDING
      $23,265,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.054
    Latitude
    30.0276
    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
    $603,410
    $935,330
    $1,538,740
    -
    $6,034,100
    $6,235,500
    $12,269,600

    Comparable in this City

    • Value Estimation by Request
      1,984 SF

      2619 Jasmine St

      GROCERY, SUPERMARKET
      2619 Jasmine St, New Orleans, LA 70122-6017
      View Details
    • Value Estimation by Request
      2,322 SF

      4101 Jumonville St

      GROCERY, SUPERMARKET
      4101 Jumonville St, New Orleans, LA 70122-1660
      View Details
    • Value Estimation by Request
      0.16 Acres

      2821 Arts St

      SHOW ROOM, WAREHOUSE
      2821 Arts St, New Orleans, LA 70122
      View Details
    • Value Estimation
      $620,000
      5,300 SF

      3129 Gentilly Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3129 Gentilly Blvd, New Orleans, LA 70122-3872
      View Details
    • Value Estimation by Request
      2,590 SF

      3241 Gentilly Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3241 Gentilly Blvd, New Orleans, LA 70122-4923
      View Details
    • Value Estimation by Request
      1,144 SF

      3038 Gentilly Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3038 Gentilly Blvd, New Orleans, LA 70122
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,544 SF

      Retail Building on Allen Toussaint

      2,544 SF single-tenant building on 15,625 SF parcel.
      1656 Allen Toussaint Blvd, New Orleans, LA 70122
      View Details
    • $1,600,000

      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
    • $210,000

      Unique Auto Shops with Vacant Lots

      Two auto shops with vacant lots in New Orleans.
      4228 Touro St, New Orleans, LA 70122
      View Details
    • Contact for pricing
      1,565 SF

      Former Restaurant Space on Elysian

      Vacant restaurant space with parking on high-traffic Elysian Fields.
      2940 Elysian Fields Ave, New Orleans, LA 70122
      View Details
    • $210,000

      Vacant Lots with Auto Shops

      Two vacant lots with auto shops in New Orleans.
      4228 Touro St, New Orleans, LA 70122
      View Details
    • Contact for pricing
      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

    • Contact for pricing

      New Retail Space Near UNO

      New retail space near University of New Orleans and Lakefront Arena.
      6750 Franklin Ave, New Orleans, LA 70122
      View Details
    • $250 SF/Yr
      100 SF

      New Orleans Salon Suite Rental

      Salon suite rental available in a popular hair and barber salon.
      3024 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • Contact for pricing

      Corner Commercial Space Available

      Commercial space at Franklin Ave and Leon C Simon Blvd.
      6600 Franklin Ave, New Orleans, LA 70122
      View Details
    • Contact for pricing

      Grocery Anchored Retail Opportunity

      Prime retail space adjacent to Rouses Supermarket and CVS Pharmacy.
      40256 Franklin Ave, New Orleans, LA 70122
      View Details
    • $250 SF/Yr
      100 SF

      New Orleans Salon Suite Rental

      Salon suite rental available in a popular hair and barber salon.
      3024 Gentilly Blvd, New Orleans, LA 70122
      View Details
    • Contact for pricing
      17,500 SF

      Office Space For Rent

      17,500 sqft office space available for lease.
      2045 Lakeshore Dr, New Orleans, LA 70122
      View Details
    View Listing
    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.
    6600 Franklin Ave
    New Orleans, LA 70122
    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
    6600 Franklin Ave, New Orleans, LA, 70122
    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!