Canal & I-10, Within the Opportunity Zone & Bio-Med. District

Retail-Commercial for Sale
Also listed as Hospitality, Multi-Family
Catylist Listing ID: 30359684
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 157,000 SF
Gross Land Area: 2.98 Acres
Sale Price: $18,000,000
Unit Price: $114.65 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/17/2018

Overview / Comments

This offering includes land in two city squares with two buildings & parking situated in one square, and additional land in the other square:

The two buildings sit on the main parcel (entirety of Square 188), land totaling 80,577+/- sq ft bounded by Canal, I-10, Iberville & N. Robertson Streets. Zoned CBD-7. There is also a 46+/- space surface parking lot within this square.

The building at 1615 Canal Street is one floor totaling 12,545+/- Sq Ft. One tenant currently occupies 6,000+/- sq ft in this building.

The Main building at 1661 Canal Street (also 1630 Iberville) is three floors totaling 144,000+/- sq ft (GBA). Four tenants currently occupy space in this building on the first & second floors & roof. The third floor is shell space.

The additional / surplus land is 49,255+/- sq ft of land in Square 215 bounded by Iberville, I-10, Bienville & N. Derbigny Streets currently used for surface parking. Zoned MU-1. One lot is leased land. A month-to-month tenant occupies the corner of Bienville & Claiborne.

THE GATEWAY TO DOWNTOWN NEW ORLEANS
(French Quarter, CBD, & Warehouse District)

* EXISTING INCOME / TENANTS IN PLACE

* MAIN BUILDING BUILT 1960'S, may qualify for historic tax credits

* 150,000 + CARS / DAY (combined traffic)

* ADJACENT TO NEW $2.5-BILLION LSU & VA MEDICAL CENTERS

* AREA EXPERIENCING TREMENDOUS REDEVELOPMENT

Survey, property outline and zoning ordinance links attached below.
Contact me for further information...

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Submarket Type: Central Business District
Taxing Authority: City of New Orleans, LA
Tax ID/APN: 41181595
Zoning: CBD-7 & MU-1
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Visibility: Excellent
Total Number of Buildings: 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,333 200,989 405,750
Median Age: 36.96 35.92 37.02
Households: 9,777 87,577 171,436

Contact

Photograph of Listing Agent

Randy Argote

Don Randon Real Estate, Inc.
New Orleans, LA
LACDB Member
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