Large Bywater Historic Redevelopment Site For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30353980
Property Subtypes: Free-Standing Building, Mixed Use, Movie Theatre, Parking Facility, Restaurant, Street Retail, Other
Building Size (RSF): 70,871 SF
Gross Land Area: 65,000 SF
Sale Price: $5,999,000
Unit Price: $84.65 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/1/2019

Overview / Comments

With over 70,000 SF of improvements on about 65,000 SF of land, this is the largest historic tax credit eligible development property in the Bywater. The property was built as Kirschman’s Furniture showroom back in 1908. The site is currently configured with about 10,000 SF of conditioned office space, 54,000 SF of warehouse spaces, and about 6,000 SF of multifamily improvements. The improvements contain clear span layouts, original hardwood flooring, historic windows, original storefront cast iron columns, high ceilings, and other architectural details throughout. The 5th floor offers excellent views of the Mississippi River and the French Quarter. The site is permitted to have up to 100 apartments (based on zoning density restrictions). HM-MU is the most intensive commercial zoning in the Bywater Neighborhood.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Zoning: HU-MU
Zoning Description: The HM-MU Historic Marigny/Tremé/Bywater Mixed-Use District is intended to provide a mixed-use environment of light industrial, commercial, and residential uses that would not adversely affect the historic character of the neighborhood. Compatibility of such uses and structures with one another and with the area is encouraged through the development review process.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,333 144,979 367,493
Median Age: 39.29 37.18 35.73
Households: 10,626 63,294 152,682

Contact

Photograph of Listing Agent

Ben D Jacobson

Ben + Burka New Orleans, LA 70115
LACDB Member
Photograph of Listing Agent

Casey A Burka

Ben + Burka New Orleans, LA 70115
LACDB Member
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