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: 2/27/2024

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.

The building is pre-approved for both State and Federal historic tax credits. Pre-approval documentation is located below.

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

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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

Contact

Photograph of Listing Agent

Bennett K Davis

Corporate Realty - Place St. Charles New Orleans, LA 70170
LACDB Member
Photograph of Listing Agent

Walker Davis

Corporate Realty - Main Office New Orleans, LA 70170
LACDB Member
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