Strip Center and Adjacent Land for Redevelopment

Shopping Center for Sale
Catylist Listing ID: 30808308
Property Subtypes: Strip Center
Building Size (RSF): 7,552 SF
Gross Building Area: See Agent
Gross Land Area: 36,430 SF
Sale Price: $585,000
Unit Price: $77.46 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/28/2022

Overview / Comments

This site is located at the signalized intersection of Franklin Ave and Allen Toussaint Blvd, just a few blocks off Leon C. Simon Drive. The subject property consists of two separate retail buildings and an adjacent 21,866 sf land parcel. Owner will be installing new windows in the building. Tenants are Holy Trinity Family Worship Center Church, The Spot Restaurant, and Franklin Ave Pharmacy.

All leases are triple net, and financial information is available upon request. The retail center and adjacent land parcel make this property a tremendous investment or redevelopment opportunity.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41073462
Zoning: S-B1
Retail Clientele: General, Family
Property Located Between: Allen Toussaint Blvd and Mexico Blvd
Property Visibility: Excellent
Largest Nearby Street: Franklin Ave
Traffic/Vehicle Count: 15,081
Highway Access: I-10 and US 90
Site Description: This area is easily accessible via public transit. The New Orleans bus line #57 runs along Franklin Avenue, connecting with other bus lines that run east to west.
Area Description: Suburban residential surroundings, primarily consisting of single-family homes but also encompassing both Southern University of New Orleans and the University of New Orleans, as well as the 600,000-sf research and technology park, The Beach at UNO.
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Parking Type: Surface
Parking Description: Parking spaces in front of tenants, with an empty lot as overflow
Total Parking Spaces: 28
Zoning Description: S-B1 Suburban Business District. The general character of this type of development should be sensitive to and compatible with more suburban residential surroundings. Permitted uses include, but are not limited to, financial institution, animal hospital, medical clinic, office, personal services institution, art gallery or studio, and specialty and standard restaurants. Conditional uses are subject to permitting and include carry-out and fast food restaurants and day care facility.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,670 62,714 207,734
Median Age: 33.45 37.05 36.16
Households: 4,915 25,238 86,252

Contact

Photograph of Listing Agent

William Sadler

Corporate Realty
New Orleans, LA
LACDB Member
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