3 Fully leased Commercial Condos for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30869463
Property Subtypes: Street Retail
Building Size (RSF): 4,781 SF
Gross Building Area: See Agent
Sale Price: $375,000 - 1,325,000
Unit Price: $78.44 - 277.14 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 4/1/2024

Overview / Comments

Investment Opportunity
3 fully leased condos for sale at 8% return

4,781 sq. ft. in three first floor commercial condos for sale on St. Charles Ave. Condos can be sold together for $1,325,000 or sold individually at the following prices:

Condo A 1,088 sf
Currently leased by a retail sales store

Condo C-3 2,318 sf
Currently leased to a restaurant

Condo C-4 1,375 sf
Currently leased to office user

NOTES: Historic 1205 St. Charles Condominium Building on the St. Charles Ave streetcar line, walking distance to Wendy’s, Popeye’s, and Mr. Ed’s Seafood. Suites have signage facing St. Charles Ave. and are improved and leased. Tenants for Condos A and C-3 pay condo fees in addition to rent. Condo fees for Condo C-4 are included in the rent. Financial information available upon request. No reserved parking in place. Zoned HU-MU Commercial, office or retail use permitted. Please do not disturb tenants. Call agent for tours.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 102000056
Tenancy: Multiple Tenants
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,013 202,047 402,515
Median Age: 37.07 35.4 37.05
Households: 11,145 86,822 167,800


Photograph of Listing Agent

Joe Gorman CCIM

Audubon Commercial Real Estate New Orleans, LA 70112
LACDB Member
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