700 Texas Street

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30403043
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 18,180 SF
Sale Price: $750,000
Unit Price: $41.25 PSF
Ceiling: 14 ft.
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: Former Tipitina's Foundation Building
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 90
Last Updated: 9/18/2019

Overview / Comments

Historic two story Texas Street building that can be renovated using Historic Tax Credits. The building is also in the downtown Shreveport Opportunity Zone. The Building built in the early 1930's. Current building configuration was completed in the early 1960's. The building is wood and concrete construction with a new roof.

Financials

Finance Data Year 2018
Net Operating Income $48,045 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Shreveport-Bossier City
County: Caddo
Tax ID/APN: 181437109002000
Zoning: CBD
Retail Clientele: General
Property Located Between: Texas Street & Louisiana
Property Visibility: Excellent
Largest Nearby Street: Texas Street
Highway Access: I-20 I-220 I-49
Airports: Shreveport Regional Airport Downtown Shreveport Airport
Site Description: Shreveport's Historic Downtown
Area Description: Central Business District
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 9,000 SF
Property Condition: Good
Year Built: 1932
Year Renovated: 1965
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Historic Brick
Parking Type: Surface
Parking Description: Building has no dedicated parking area but there are several rental parking lots near the building and street meter parking.
Freight Elevators: 1
Interior Description: Dated interior with 20 small office rentals with 3 small apartments and a retail space
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,059 70,359 152,879
Median Age: 43.63 34.13 34.67
Households: 1,872 28,744 61,261

Contact

Photograph of Listing Agent

Chris Stokes

Walker-Alley & Associates Shreveport, LA 71166
LACDB Member
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