Exceptional Real Estate in Exceptional Location

Office for Sale
Catylist Listing ID: 30835396
Property Subtypes: Coworking, Mixed Use, Flex Space, Office Building
Building Size (RSF): 38,729 SF
Gross Building Area: See Agent
Sale Price: $5,900,000
Unit Price: $152.34 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/14/2023

Overview / Comments

These three interconnecting buildings, formerly the home of Peter Mayer Advertising, are offered for sale. Comprising a total of 38,729 sf in the heart of downtown New Orleans, this is a perfect development opportunity for multi-family, hospitality, or co-working. Originally built in the 1800s, these three buildings will be able to get both state and federal historic tax credits (HTCs). The HTCs will allow a developer to recoup over 30% of its renovation costs.

Each building consists of four floors that connect on each level. This masterfully-done renovation preserves the character of the buildings while providing contemporary interiors. The property spans the width of a downtown block, with the fronts of the buildings facing Camp Street and the backs providing access to
Picayune Place.

The property is only one and a half blocks from Poydras Street, a primary thoroughfare for the Central Business District, and adjacent to Class A office buildings, hotels, and restaurants. It is also only two blocks from Canal Street and the French Quarter. This is an exceptional commercial real estate opportunity.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 104101007
Zoning: CBD-2
Property Visibility: Excellent
Total Number of Buildings: 3
Number of Stories: 4
Zoning Description: Future Zoning: DMU - Mixed-Use Downtown - The aim is to encourage and support a compact, walkable mixed-use neighborhood in the city center. Permitted uses include residential, office, commercial, hotel, retail, and service uses.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,470 183,612 403,757
Median Age: 40.84 35.94 36.92
Households: 9,759 80,657 169,394


Photograph of Listing Agent

Donna Whalen Little

Corporate Realty - Main Office New Orleans, LA 70170-0000
LACDB Member
Photograph of Listing Agent

Randy R White

Corporate Realty - Main Office New Orleans, LA 70170-0000
LACDB Member
Photograph of Listing Agent

Michael J Siegel, SIOR

Corporate Realty - Main Office New Orleans, LA 70170-0000
LACDB Member
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