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. |
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 |
|
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