REDUCED: Cash Flowing CBD Building FOR SALE

Retail-Commercial for Sale
Catylist Listing ID: 30772134
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 6,802 SF
Gross Building Area: See Agent
Sale Price: $2,050,000
Unit Price: $301.38 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/27/2022

Overview / Comments

401 Baronne is a recently renovated 6,802 SF commercial building located on the hard corner of Baronne and Perdido Streets in the heart of New Orleans’ Central Business District. Floors 2-3 are leased to Sonder, a public company via recent SPAC deal. The first floor is also leased, making the property 100% occupied.

The first floor is leased to Dream House Lounge, a wellness lounge and oxygen bar (https://www.dhlounge.com/). Read more about Dream House here: https://nola.eater.com/2022/7/22/23270535/black-entrepreneurs-leading-new-orleans-nonalcoholic-sober-bar-movement

Priced at $2,050,000, this property is zoned CBD-1. The building has close proximity to major downtown high-rise office buildings, including First Bank and Trust Building, One Shell Square, Pan American Life Center, and Poydras Center, as well as several hotels, notably the recently completed Virgin Hotel. Additionally, the Superdome is located half of a mile away.

This cash-flowing asset is ideal for income-seeking buyers. Financials are available upon request. Please do not disturb tenants.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41185841

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,412 192,540 406,029
Median Age: 39.34 35.69 36.95
Households: 8,774 83,599 170,504

Contact

Photograph of Listing Agent

Timothy Thompson

SVN Urban Properties New Orleans, LA 70130
LACDB Member
Photograph of Listing Agent

Henry Shortess

SVN Urban Properties New Orleans, LA 70130
LACDB Member
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