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

    933 Decatur St New Orleans, LA 70116-3307

    • Turn key restaurants
    • 4,140 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Jun 03, 2022
    $1,200,000
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-0578387
    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

    • Frank's Restaurant / Seafood Restaurant / Steak House
    • LibertyX Bitcoin ATM / Atm

    Property Details for 933 Decatur St

    Year built
    1900
    Lot size
    0.03 lot acres
    Property size
    4,140 SF
    Property type
    Turn key restaurants
    APN
    207100533
    APU
    207100533

    Description

    This exceptional three-story building, located at 933 Decatur Street in New Orleans' vibrant French Quarter, offers a unique investment opportunity. Currently operating as Frank's Restaurant, a family-run establishment for over 60 years, the 4,500 square foot property boasts two floors of fully equipped dining facilities, including two kitchens, two freezers, two seating and bar areas, and a commercial hood. The second floor features high ceilings and a dining balcony. A valuable liquor license is included, making this a turnkey restaurant operation. The building enjoys high visibility, facing the French Market and benefiting from an average daily traffic count of approximately 9,579 vehicles. The property is situated within five blocks of numerous restaurants, shops, a farmer's market, and a flea market, ensuring high foot traffic. The third floor offers a large loft/storage area with significant redevelopment potential, allowing for expansion or adaptation to suit various uses. The real estate is offered for sale at $2,995,000, with the business operations available for an additional $895,000. A lease option is also available on a NNN structure. This property presents a rare chance to own a piece of New Orleans history in a prime commercial location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $755,000
      ML approach
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,227,000
      Market price range: $378k - $1.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.061
    Latitude
    29.959
    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
    $9,660
    $165,510
    $175,170
    -
    $96,600
    $1,103,400
    $1,200,000

    Comparable in this City

    • Value Estimation by Request
      5,228 SF

      726 Saint Peter St

      RESTAURANT • 5,228 SF
      726 Saint Peter St, New Orleans, LA 70116-3119
      View Details
    • Value Estimation by Request
      1,200 SF

      1501 Saint Philip St

      RESTAURANT • 1,200 SF
      1501 Saint Philip St, New Orleans, LA 70116-2934
      View Details
    • Value Estimation by Request
      3,105 SF

      1729 Rampart St

      RESTAURANT • 3,105 SF
      1729 Rampart St, New Orleans, LA 70116
      View Details
    • Value Estimation by Request
      2,310 SF

      1941 Rampart St

      RESTAURANT • 2,310 SF
      1941 Rampart St, New Orleans, LA 70116-1936
      View Details
    • Value Estimation by Request
      1,430 SF

      91 French Market Pl

      RESTAURANT • 1,430 SF
      91 French Market Pl, New Orleans, LA 70116-2617
      View Details
    • Value Estimation by Request
      2,994 SF

      901 Bourbon St

      RESTAURANT • 2,994 SF
      901 Bourbon St, New Orleans, LA 70116-3120
      View Details

    Similar Nearby for Sale

    • $1,015,000
      879 SF

      French Quarter Retail Gem

      Turnkey Business & Real Estate
      1231 Decatur St, New Orleans, LA 70116
      View Details
    • $999,000
      1,680 SF

      French Quarter Mixed-Use Condo

      Historic French Quarter retail & residential
      521 St Philip St, New Orleans, LA 70116
      View Details
    • $470,000

      Corner Redevelopment Opportunity

      Prime corner location suitable for redevelopment in New Orleans.
      2100 St. Claude Ave, New Orleans, LA 70116
      View Details
    • $4,500,000
      15,308 SF

      Frenchmen St. Development Gem

      Prime New Orleans Mixed-Use Property
      421 Frenchmen St, New Orleans, LA 70116
      View Details
    • New
      $850,000
      4,850 SF

      Retail Property in High-Traffic Area

      Two-story strip mall in high-traffic New Orleans location.
      1418 N Claiborne Ave, New Orleans, LA 70116
      View Details
    • $3,375,000
      31,750 SF

      Prime New Orleans Retail Center

      High-Yield Shopping Center, 6 Tenants
      2001 St Bernard Ave, New Orleans, LA 70116
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      13,000 SF

      Prime Rampart Street Retail Space

      Versatile 3,000+ SF Retail Opportunity
      822 Rampart St, New Orleans, LA 70116
      View Details
    • $85 SF/Yr
      1,080 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
    • $34 SF/Yr
      5,698 SF

      Decatur Street Retail Opportunity

      French Quarter Retail Space Available
      1222 Decatur St, New Orleans, LA 70116
      View Details
    • $7,943 /Mo
      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
    • $4,000 /Mo

      French Quarter Retail Space Available

      Prime retail space in the heart of the French Quarter.
      1132 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.
    933 Decatur St
    New Orleans, LA 70116-3307
    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.