Catylist ID:
#30835396
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. |
Attachments & Media
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. |
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 |
Contact
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