HISTORIC Small Duplex Office/Retail/Other Commercial Space on Broad

Office for Sale
Also listed as Retail-Commercial, Hospitality
Catylist Listing ID: 30497567
Property Subtypes: Executive Suites, Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 1,750 SF
Gross Land Area: 3,162 SF
Sale Price: $385,000
Unit Price: $220 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User, Business
Usable Size (USF): 1,750 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: 7.0%
Last Updated: 9/10/2019

Overview / Comments

SELLER IS VERY MOTIVATED AND DESIRES QUICK AND EASY SALE

Small office duplex on Broad, near Canal

There is an existing tenant with a 6 month lease in the 220 side. The owner is in the 218 side. There is also a 180 sqft music studio in the back. The seller requires 1-4 weeks after closing to remove leasehold improvements in the music production studio, particularly expensive wiring installed behind the walls.

2-3 parking spots in the rear of the building, but both adjacent properties have put up fences to prevent access.

No central air, only window units
Owned since 1987
Wood framing is thick cypress
Roof since 2006
Flooding rarely gets above sidewalk
Seller recommends unsophisticated buyers to NOT spend more than $5,000 on basic repairs and believes everything else is aesthetic.

SHOWINGS
By appointment only, 218 side
Feel free to visit the 220 side during business hours but please don't disturb the tenant by asking them if you can see the area behind the jewelry cases.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41031478
Zoning: HU-MU
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Total Parking Spaces: 3

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,939 203,219 404,453
Median Age: 32.66 36.58 37.16
Households: 10,513 89,547 172,889

Contact

Photograph of Listing Agent

Russell Bernstein

Metairie, LA
LACDB Member
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