Huge Development Site in N.O. East

Vacant Land for Sale
Catylist Listing ID: 30409216
Property Subtypes: Hospitality, Multi-Family, Retail, Self Storage
Gross Land Area: 20 Acres
Sale Price: $3,250,000
Unit Price: $162,500 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/23/2019

Overview / Comments

This tract is ideally situated for an intensive commercial development reliant on direct visibility and access to Interstate 10, or Mixed-Use with Multi-Family Above the Ground Floor. The current zoning allows for a wide array of potential development uses as listed above (https://czo.nola.gov/article-15/). The site is fully cleared, paved and ready for new development.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Northshore / N.O. East
Tax ID/APN: 41090429
Zoning: C-3
Property Located Between: Read Boulevard & Citrus Canal
Property Visibility: Excellent
Feet of Frontage: 1,200
Highway Access: Direct access to I-10 via the Read Boulevard interchange, directly east of the property.
Site Description: Northwest Quadrant of Interstate 10 and Read Boulevard, New Orleans, Louisiana: 9701 N. I-10 Service Road, New Orleans, LA 70127 Approximately 1,200’ on I-10 Service Road & approximately 700’ along Citrus Canal ~20 Acre development site (exact size to be confirmed by purchaser commissioned survey)
Area Description: The listed property is located at the high-traffic and developed intersection at Read Boulevard and I-10. This intersection contains many established businesses including CVS Pharmacy, and Hancock-Whitney Bank to name a few. New Orleans East is the only sub-market in the New Orleans MSA with sizable tracts remaining. The market has recently improved with new development taking advantage of attractive land pricing, and a market that is presently at its healthiest status since Hurricane Katrina. The proximity to I-10 and the accessibility to both St. Tammany Parish and Downtown New Orleans make for a strategic location for new commercial or multi-family development.
Lot Frontage: ~1,200
Lot Depth: ~7,000
Zoning Description: The C-3 Heavy Commercial District is intended to provide for auto-oriented heavy commercial uses and large-scale shopping centers. Standards for the C-3 District are designed to maintain and enhance the appearance of these areas, and to provide adequate buffering between any residential and lower-intensity commercial properties adjacent to the district.
Topography: Level
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,111 55,946 109,616
Median Age: 29.95 32.71 34.39
Households: 6,466 20,101 40,957

Contact

Photograph of Listing Agent

Gordon McLeod

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
Photograph of Listing Agent

S. Parkerson (Parke) McEnery

The McEnery Company New Orleans, LA 70112
LACDB Member
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