Oak Street Corner Property on Big Lot
Retail-Commercial
for Sale
| Catylist Listing ID: |
30837060 |
| Property Subtypes: |
Mixed Use, Street Retail
|
| Building Size (RSF): |
2,982 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
7,909 SF
|
| Sale Price: |
$1,250,000 |
| Unit Price: |
$419.18 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/2/2023 |
Overview / Comments
8739 Oak Street sits at the highly visible intersection of Eagle and Oak Streets where Leake Avenue turns into River Road. Approximately 8,000 sf on 3 lots, this is an ideal property for redevelopment.
This site has been the home of Graffiti Graphics for twenty years, but the company is now closing. The property includes a commercial space within a corner grocery store; a private residence with stainless steel appliances, large windows, and a washer/dryer; and a space that is currently being used for storage. The buildings enclose a gated courtyard.
It is zoned HU-MU Neighborhood Mixed-Use District which is intended for areas of mixed-use development that are close to residential neighborhoods. The buildings may qualify for economic tax incentives and/or historic tax credit redevelopment.
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Additional Details
| Nearest MSA: |
New Orleans-Metairie |
| County: |
Orleans |
| Submarket/Township: |
Greater New Orleans |
| Tax ID/APN: |
716200406 |
| Retail Clientele: |
General |
| Site Description: |
The property consists of three lots with the addresses of 8735, 8737, and 8739 Oak. The main building on the site is composed of three smaller structures: the former sign
shop with 1,564 sf, an ancillary retail space with 545 sf, and a residence with 873 sf. There is an additional structure on the site which is currently used for storage and has an attached garage. |
| Zoning Description: |
The HU-MU Neighborhood Mixed-Use District permits single and multi-family residences along with a range of commercial uses including animal hospital, art gallery, bar, live entertainment venue, office, and restaurant. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
21,756 |
158,250 |
403,681 |
| Median Age: |
33.39 |
37.07 |
38.45 |
| Households: |
9,057 |
67,941 |
174,817 |
|
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