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

    838 Lowerline St New Orleans, LA 70118-5160

    • Apartment buildings
    • 12,513 SF
    • 0.14 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2022
    $3,336,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-2531831
    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

    • Apartment buildings

    Property Details for 838 Lowerline St

    Year built
    1940
    Lot size
    0.14 lot acres
    Property size
    12,513 SF
    Property type
    Apartment buildings
    APN
    716107208
    APU
    716107208

    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
    -90.1267
    Latitude
    29.9407
    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
    $11,960
    $321,690
    $333,650
    -
    $119,600
    $3,216,900
    $3,336,500

    Comparable in this City

    • Value Estimation by Request
      7,615 SF

      7836 St Charles Ave

      Multifamily properties • 7,615 SF
      7836 St Charles Ave, New Orleans, LA 70118
      View Details
    • Value Estimation
      $650,000
      6,496 SF

      638 Audubon St

      APARTMENT HOUSE (5+ UNITS) • 6,496 SF
      638 Audubon St, New Orleans, LA 70118-5123
      View Details
    • Value Estimation
      $765,000
      6,659 SF

      2108 Broadway St

      APARTMENT HOUSE (5+ UNITS) • 6,659 SF
      2108 Broadway St, New Orleans, LA 70118-5450
      View Details
    • Value Estimation by Request
      4,750 SF

      1134 Broadway St

      APARTMENT HOUSE (5+ UNITS) • 4,750 SF
      1134 Broadway St, New Orleans, LA 70118-5243
      View Details
    • Value Estimation by Request
      3,100 SF

      7823 Zimpel St

      APARTMENT HOUSE (5+ UNITS) • 3,100 SF
      7823 Zimpel St, New Orleans, LA 70118-3970
      View Details
    • Value Estimation by Request
      4,500 SF

      201 State St

      APARTMENT HOUSE (5+ UNITS) • 4,500 SF
      201 State St, New Orleans, LA 70118-5754
      View Details

    Similar Nearby for Sale

    • $599,000

      New Orleans 6-Plex Investment

      High-yield multifamily property with upside.
      8816 Spruce St, 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
    • $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
    • $1,500,000
      6,659 SF

      Uptown New Orleans Multifamily

      9-Unit Value-Add Apartment Building
      2108 Broadway 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
    • $329,000
      1,960 SF

      Historic Corner Property in New Orleans

      Unique duplex near Tulane and Loyola with projected rental income.
      8301 Belfast St, New Orleans, LA 70118
      View Details

    Similar Nearby for Lease

    • $1,650 /Mo
      900 SF

      Furnished Apartment Near Universities

      Furnished apartment near Tulane and Loyola Universities, suitable for office space.
      7735 Maple St, New Orleans, LA 70118
      View Details
    • $1,450 /Mo

      Uptown Two-Bedroom Apartment for Rent

      Spacious two-bedroom apartment in Uptown/Carrollton, close to amenities.
      1020 Short St, New Orleans, LA 70118
      View Details
    • $4,375 /Mo
      1,842 SF

      New Construction Black Pearl Duplex

      New construction duplex with high-end finishes and levee views.
      7822 Dominican St, New Orleans, LA 70118
      View Details
    • $2,900 /Mo
      1,800 SF

      Riverbend Corner Office/Retail Space

      1800 sqft office or retail space in the Riverbend area.
      732 Dublin St, New Orleans, LA 70118
      View Details
    • $675 /Mo
      13,551 SF

      Move-in Ready Uptown Office Space

      Private office spaces available on historic Maple Street in Uptown.
      7611 Maple St, New Orleans, LA 70118
      View Details
    • $14 SF/Yr
      2,360 SF

      Warehouse Space with Parking Lot

      2360 SF warehouse with parking, prime location.
      8304 Oak 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.
    838 Lowerline St
    New Orleans, LA 70118-5160
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.