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

    940 Elysian Flds Ave New Orleans, LA 70117-8536

    • Investment properties
    • 6,669 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $795,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US36-2622049
    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

    • Investment properties

    Property Details for 940 Elysian Flds Ave

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.09 lot acres
    Property size
    6,669 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    37W102114
    APU
    37W102114

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $924,000
      Market price range: $224k - $924k
      AI Estimate
      $594,000
      Market price range: $184k - $594k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $585,000
      Current use
      RESTAURANT
      $1,260,000
      Change: +116% Conversion: Difficult
      RETAIL STORES
      $985,000
      Change: +69% Conversion: Easy
      OFFICE BUILDING
      $885,000
      Change: +52% Conversion: Easy
      AUTO REPAIR, GARAGE
      $780,000
      Change: +34% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $780,000
      Change: +33% Conversion: Moderate
      MEDICAL BUILDING
      $770,000
      Change: +32% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans
    State
    Louisiana
    Longitude
    -90.0571
    Latitude
    29.9674
    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
    $12,290
    $73,600
    $85,890
    -
    $122,900
    $588,800
    $711,700

    Comparable in this City

    • Value Estimation by Request
      13,624 SF

      1303 Music St

      OFFICE/RESIDENTIAL (MIXED USE) • 13,624 SF
      1303 Music St, New Orleans, LA 70117
      View Details
    • Value Estimation
      $980,000
      10,537 SF

      901 Piety St

      OFFICE/RESIDENTIAL (MIXED USE) • 10,537 SF
      901 Piety St, New Orleans, LA 70117
      View Details
    • Value Estimation by Request
      3,915 SF

      3143 Rocheblave St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,915 SF
      3143 Rocheblave St, New Orleans, LA 70117-6424
      View Details
    • Value Estimation by Request
      9,376 SF

      530 Louisa St

      OFFICE/RESIDENTIAL (MIXED USE) • 9,376 SF
      530 Louisa St, New Orleans, LA 70117-6731
      View Details
    • Value Estimation by Request
      2,154 SF

      1643 Desire St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,154 SF
      1643 Desire St, New Orleans, LA 70117
      View Details
    • Value Estimation by Request
      3,590 SF

      4231 Saint Claude Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,590 SF
      4231 Saint Claude Ave, New Orleans, LA 70117-5338
      View Details

    Similar Nearby for Sale

    • New
      $275,000
      1,880 SF

      Historic Mixed-Use Property in Marigny

      Historic property in vibrant St. Claude corridor with zoning flexibility.
      2827 St Claude Ave, New Orleans, LA 70117
      View Details
    • $724,000
      2,029 SF

      Remodeled Commercial Property in Faubourg Marigny

      Remodeled property near restaurants and shops, ideal for commercial uses.
      2404 Saint Claude Ave, New Orleans, LA 70117
      View Details
    • $389,000
      2,400 SF

      Holy Cross Live/Work Opportunity

      Historic New Orleans corner lot with commercial and residential spaces.
      4999 Burgundy St, New Orleans, LA 70117
      View Details
    • $350,000
      1,799 SF

      Commercial/Residential Redevelopment Opportunity

      Mixed-use property with redevelopment potential in vibrant New Orleans district.
      4031-33 St Claude Ave, New Orleans, LA 70117
      View Details
    • $350,000
      1,799 SF

      Commercially Zoned Redevelopment Opportunity

      Commercially zoned property with redevelopment potential in a vibrant New Orleans corridor.
      4031 St Claude Ave, New Orleans, LA 70117
      View Details
    • $159,500
      1,354 SF

      Renovation Opportunity in Upper 9th Ward

      Three-unit property in historic New Orleans neighborhood, ready for renovation.
      4217 N Roman St, New Orleans, LA 70117
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      63,244 SF

      New Orleans Warehouse - 63,244 SF

      Spacious Bywater Warehouse, 11 Docks, Immediate Occupancy
      2940 Royal St, New Orleans, LA 70117
      View Details
    • $6,300 /Mo

      Bywater White Box Retail Space

      1,729 SF white box space in the heart of Bywater.
      880 Montegut St, New Orleans, LA 70117
      View Details
    • $120 SF/Yr
      4,771 SF

      St. Claude Ave Healing Center Suites

      New Orleans creative office spaces available
      2372 St Claude Ave, New Orleans, LA 70117
      View Details
    • $6,300 /Mo
      3,980 SF

      Bywater Retail/Restaurant Space Available

      Prime retail/restaurant space in the heart of the Bywater.
      882 Montegut St, New Orleans, LA 70117
      View Details
    • $5 SF/Yr
      20,566 SF

      Dauphine Street Warehouse Opportunity

      New Orleans Industrial Warehouse Space Available
      2900 Dauphine St, New Orleans, LA 70117
      View Details
    • $3 SF/Yr

      Bywater Commercial Land Rental

      Prime Bywater lot, short-term lease available.
      3036 Chartres St, New Orleans, LA 70117
      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.
    940 Elysian Flds Ave
    New Orleans, LA 70117-8536
    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.