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.

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

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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


Photograph of Listing Agent

Aaron Kazanoff

ben + burka New Orleans, LA 70115
LACDB Member
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