Historic Mixed-Use Building in the Heart of Mid-City
Retail-Commercial
for Sale
| Catylist Listing ID: |
30851352 |
| Property Subtypes: |
Free-Standing Building, Mixed Use, Street Retail, Other
|
| Building Size (RSF): |
10,830 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
4,356 SF
|
| Sale Price: |
$975,000 |
| Unit Price: |
$90.03 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/25/2023 |
Overview / Comments
This high-visibility, three-story building is located at the signalized intersection of Tulane Avenue and Norman C. Francis Parkway in Mid-City. The 4,356-sf site commands a well-traveled corner along a corridor from the Central Business District and BioMedical District to Metairie. It is approximately half a mile from the property to I-10 and Airline Drive. The area is easily accessible and has multiple restaurants, retail centers, and upcoming retail developments.
Originally built in the 1940s, the building may qualify for historic tax credits. It currently has two tenants, Russell’s Cleaners and Poree’s Embroidery, occupying the ground floor retail spaces. The second and third floors are shell space, primed for redevelopment for multifamily or office use, and total 7,220 rsf.
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Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Orleans |
| Submarket/Township: |
Greater New Orleans |
| Tax ID/APN: |
105300501 |
| Zoning: |
MU-1 |
| Retail Clientele: |
General |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Tulane Ave |
| Traffic/Vehicle Count: |
30,126 |
| Total Number of Buildings: |
1 |
| Number of Stories: |
3 |
| Year Built: |
1940 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
27,751 |
199,442 |
396,755 |
| Median Age: |
31.7 |
36.9 |
37.25 |
| Households: |
9,987 |
88,320 |
170,873 |
|
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