Mid-City Commerical / Short Term Rental
Retail-Commercial
for Sale
| Catylist Listing ID: |
30820448 |
| Property Subtypes: |
Free-Standing Building, Mixed Use, Street Retail
|
| Building Size (RSF): |
4,390 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
3,915 SF
|
| Sale Price: |
$875,000 |
| Unit Price: |
$199.32 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Vacant/Owner-User, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/15/2023 |
Overview / Comments
Located just off the corner of Canal and Norman C. Francis Pkwy, 116 S. Norman Francis offers nearly 4,400 SF of commercial space over two floors. Currently, the upper unit is leased at $2,200/month, featuring original hardwood floors and ornate historic detailing, high ceilings, ample natural light, and rich wood accents throughout. The downstairs is a currently unoccupied 3 bedroom/ 2 bath unit. Additionally, there is a ~600 SF unfinished portion of the ground floor that could easily be finished out as a 1-bedroom apartment or small commercial use for additional income.
The zoning allows for a host of uses including short-term rental, office, retail, etc. The property is in close proximity to a host of bars, restaurants, and retailers, as well as being located just off the streetcar line and Mardi Gras parade route.
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Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Orleans |
| Submarket/Township: |
Greater New Orleans |
| Tax ID/APN: |
41036290 |
| Zoning: |
HU-MU |
| Property Visibility: |
Good |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
29,596 |
198,803 |
389,649 |
| Median Age: |
32.98 |
36.63 |
37.17 |
| Households: |
11,423 |
87,142 |
167,908 |
|
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