Immediate Value-Add Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30858194
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 8,200 SF
Gross Building Area: See Agent
Sale Price: $1,950,000
Unit Price: $237.80 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/28/2024

Overview / Comments

Located on one of the busiest stretches of St. Charles Avenue in the heart of the CBD, the offering consists of a 8,200 square foot four story mixed-use building, with a ground-floor restaurant tenant and three loft-style apartment units on each of the upper floors.

The property is primed for repositioning with minimal up-front capital through lease-up and pushing rents to market rates, or with doubling unit capacity by adding one bedroom to each unit. The attractive CBD-1 zoning, also makes the property a great candidate for conversion into hospitality or office applications.

The historic building is likely eligible for Federal and State Historic Tax Credits. The property is also located in a Qualified Opportunity Zone and outside the boundaries of local Historic District authority.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 104101111
Zoning: CBD-1
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Casino
Property Located Between: Canal & Poydras
Property Visibility: Excellent
Largest Nearby Street: Canal Street
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 4
Typical SF / Floor: 2,050 SF
Property Condition: Good
Roof Type: Hip
Zoning Description: CBD-1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,100 186,227 401,945
Median Age: 41.37 35.91 36.91
Households: 8,720 81,707 168,794

Contact

Photograph of Listing Agent

Gordon McLeod

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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