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

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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


Photograph of Listing Agent

Ian Cockburn

John Anthony Realty LLC New Orleans, LA 70113
LACDB Member
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