Freret Commercial Investment For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30835822
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use
Building Size (RSF): 1,760 SF
Gross Building Area: See Agent
Gross Land Area: 4,530 SF
Sale Price: $650,000
Unit Price: $369.32 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/10/2023

Overview / Comments

Located in the heart of the Freret Street traffic, 4921 Freret Street offers a fully leased investment property. The 2-unit property is master leased by a single tenant who operates a vape/smoke shop in the front with a 1-bedroom apartment in the rear. The raised shotgun-style property features ample off-street parking, rear and side yards, excellent street presence, and enjoys healthy income from its tenant. The lease term expires in 2024, with an option for the tenant to renew for an additional 3-year term.

The property is located less than a mile from Tulane and Loyola Universities, as well as Sacred Heart, Lusher, and Newman high schools, making it a prime destination for students and locals. Additionally, the property is within walking distance to Freret Street’s best spots, including Cure, Dat Dog, Good Bird, High Hat, and many more.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 614331322
Zoning: HU-MU
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,613 176,399 393,836
Median Age: 33.4 35.9 37.3
Households: 14,489 76,412 167,228

Contact

Photograph of Listing Agent

Aaron Kazanoff

ben + burka New Orleans, LA 70115
LACDB Member
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