Development Opportunity across from Xavier

Office for Sale
Catylist Listing ID: 30386908
Property Subtypes: Coworking, High-Tech, Medical, Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 3,915 SF
Sale Price: $475,000
Unit Price: $121.33 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/23/2021

Overview / Comments

Sieze this #OpportunityZone incredible steal of a deal!
Currently divided into two units, 1/2 has a completely new roof, and renovated office space currently rented, while the other 1/2 is a warehouse space, with a mezzanine level that is used by a contractor/owner.

This property is in the Opportunity Zone.

Great opportunity to convert the building into a multi-use property of retail, residential and/or offices, and be able to go as high as 55 feet.

Current Tenants

Tenant Business Name Staffing Agency
Industry Type Other Services
Is Renting? Yes
Annual Revenue $24,000 (Annual)
Employees Total 20
Employees at Location 6
SF of Space Occupied 2,000 SF
Current Rent $2,000 PSF (Annual)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41045215
Property Located Between: Pine and Broadway Streets
Property Visibility: Excellent
Highway Access: Less than one mile from I-10
Site Description: CMU and brick skin with Steel structure
Area Description: Changing neighborhood on busy thoroughfare
Total Number of Buildings: 1
Number of Stories: 2
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Steel Frame
Exterior Description: Brick
Parking Type: Surface, Other
Total Parking Spaces: 2
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Internet Access: Cable, DSL
Interior Description: 1/2 space is an office/retail space, The other 2000SF is currently laid out as a warehouse.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Single Entity
Legal Description: 1. MARLYVILLE SQ 3 LOT 5 A 2. WASH & BROADWAY TO STROELITZ 3. 51/50 X 83/80 7200-02 WASHI 4. NGTON 2-B-BLDG-W/2-STORES 5. FILE #88199 11/04

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,998 194,966 403,081
Median Age: 32.35 36.95 37.48
Households: 10,580 86,869 174,098

Contact

Photograph of Listing Agent

Ian Cockburn

John Anthony Realty LLC New Orleans, LA 70113
LACDB Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.