619 & 631 Milam Buildings for Sale w Parking

Retail-Commercial for Sale
Catylist Listing ID: 30747060
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 49,242 SF
Sale Price: $2,350,000
Unit Price: $47.72 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: Shepherd Blanchard Building & Goldrings Department Store
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 50
Last Updated: 11/25/2021

Overview / Comments

631 Milam has 18,996 sq. ft. and is currently a historically restored 3 story Class B office building that is 50% occupied with medical and professional tenants. This building is ideal for an owner occupant. It can also be converted into as many as 12 Lofts using Federal and State Historic Tax Credits along with other historic development tax incentives. 631 Milam is actually two buildings built in 1900 & 1901 and renovated together in the mid 1980’s into one office building. Well maintained with new roof, exterior brick mortar cleaned and
repointed, stucco reworked and painted in 2019. Updated interior finishes. Multiple split system HVAC. 15 parking spaces in rear lot with additional 36 in lot across the street corner Louisiana and Crockett.

619 Milam the former Goldrings Department Store is a 30,249 sq. ft. two story building with a built out basement that is ideal for an open office conversation, sound stage, recording studio or other creative use. Federal and State Historic Tax Credits and other incentives are also available to the developers.

Additional Details

Nearest MSA: Shreveport-Bossier City
County: Caddo
Tax ID/APN: 181437177000100
Zoning: CBD
Property Located Between: Milam & Louisiana in Downtown Shreveport
Property Visibility: Excellent
Largest Nearby Street: Texas Street
Feet of Frontage: 50
Highway Access: I-20, I-49
Airports: Shreveport Regional & Downtown Airport
Site Description: Downtown Historic District
Area Description: Shreveport's Central Business District
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 3
Typical SF / Floor: 6,000 SF
Property Condition: Good
Year Built: 1900
Year Renovated: 2000
Exterior Description: Well maintained with new roof, exterior brick mortar cleaned and repointed, stucco reworked and painted in 2019.
Total Parking Spaces: 51
Parking Type: Surface
Parking Description: Two Parking Lots
Passenger Elevators: 2
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, DSL, T1/T3, Fiber Optic
Interior Description: Traditional Office
Zoning Description: CBD
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,222 71,029 155,325
Median Age: 42.66 34.06 34.62
Households: 2,752 29,195 62,190

Contact

Photograph of Listing Agent

Chris Stokes

Walker-Alley & Associates Shreveport, LA 71166
LACDB Member
Photograph of Listing Agent

Ben W Walker, III

Walker-Alley & Associates Shreveport, LA 71166
LACDB Member
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