Mixed Use for Sale on St. Claude!

Retail-Commercial for Sale
Catylist Listing ID: 30821343
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 8,250 SF
Gross Land Area: 13,680 SF
Sale Price: $599,000
Unit Price: $72.61 PSF
Ceiling: 8 ft.
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 9.73%
Average Occupancy Rate: 95
Last Updated: 2/26/2024

Overview / Comments

This 6 unit property sits in the resurgent St. Claude Avenue area and is currently home to 4 retail concerns and 2 residential tenants. Zoned Historic Urban Neighborhood Mixed-Use District (HU-MU), the property offers a wide variety of potential tenants and uses. With a total square footage of 8,250 and a full capacity Net Operating Income (NOI) of $58,300 per year (there is one residential vacancy), the CAP Rate is a healthy 9.73%. The 6 units sit on 13,680 sf of land and offers 30 parking spots. Please call for more information or to set up an appointment to visit.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Northshore / N.O. East
Tax ID/APN: 41129287
Zoning: HU-MU
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Tricou St. & Delery
Property Visibility: Excellent
Largest Nearby Street: N. Claiborne Avenue
Feet of Frontage: 117
Airports: MSY Louis Armstrong International; New Orleans Lakefront Airport
Area Description: Mixed retail, office, medical & residential
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Average
Year Renovated: 2012
Construction/Siding: Stucco
Total Parking Spaces: 30
Parking Type: Surface
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: HU-MU; Historic Urban Neighborhood Mixed Use District
Lot Frontage: 117
Lot Depth: 117
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,848 92,747 274,626
Median Age: 36.48 36.37 36.26
Households: 3,376 37,178 112,932

Contact

Photograph of Listing Agent

Michael E Allain

KW Commercial 889-9898 Metairie, LA 70002
LACDB Member
Photograph of Listing Agent

Bob R Fraiche

KW Commercial 889-9898 Metairie, LA 70002
LACDB Member
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