Commercial STR on AUTOPILOT!

Hospitality for Sale
Sale Pending
Catylist Listing ID: 30804295
Status: Pending
Number of Units: 2 Units
Building Size (RSF): 3,000 SF
Gross Building Area: See Agent
Gross Land Area: 5,250 SF
Sale Price: $895,000
Unit Price: $447,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/23/2022

Overview / Comments

Excellent cap rate on commercial STR right by Med Center. Both licenses grandfathered in (obtained Nov 2019 prior to rule change) and renewed annually. Very easy to operate. Weekends stay booked! 3 Night Minimum and rents as 8 Bedrooms at once. Turnkey. Bookings into 2023. Yard has great space for a small pool/spa. Room for rental income growth. Licensed broker is member of selling LLC. Property built in 2019 - COO issued Nov 2019. Currently only advertising on 1 vacation rental site.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41031829
Zoning: MU-2
Largest Nearby Street: Tulane Ave
Site Description: Large lot. Off Street Parking
Total Number of Buildings: 1
Number of Stories: 2
Exterior Description: Hardy Plank.
Parking Type: Other
Parking Description: Off street parking and commercial str turnaround in back in place. Off street for 3-5 cars.
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Internet Access: Cable
Interior Description: New Construction in 2019- completed Nov 2019.
Zoning Description: MU-2
Lot Frontage: 30
Lot Depth: 175
Water Service: Municipal
Sewer Type: Municipal
Legal Description: SQ 576 LOT 15 OR 31DORGENOIS 30 9X175

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,041 207,171 411,649
Median Age: 32.03 36.35 37.27
Households: 8,563 91,239 175,640


Photograph of Listing Agent

Rachele Riley

Lion Realty Group LLC Metairie, LA 70002
LACDB Member
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