Freestanding Corner Mid-City Office Building

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30180885
Property Subtypes: Office Building
Status: Pending/Contingent
Building Size (RSF): 3,247 SF
Gross Land Area: 9,127 SF
Sale Price: $550,000
Unit Price: $169.39 PSF
Property Use Type: Vacant/Owner-User
Class of Space: Class B
Usable Size (USF): 3,247 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/19/2018

Overview / Comments

Highly visible, single story Mid-City office building at the intersection of Banks Street and South Jefferson Davis Parkway. The building has Spanish revival architectural features such as red tile roofing tiles and stucco exteriors. The expansive corner lot also provides at least 8 parking spaces and plenty of room for landscaping.

The building has been used in single- and multiple-tenant configurations in the past, and is currently utilized as two separate office suites. The owners occupy the larger (approximately 2,200sf) suite and have leased out the smaller (approximately 1,000sf) suite in the past. The smaller suite was damaged by the early August 2017 floods. It has not been repaired and is currently being used as storage.

Mixed use zoning allows for a variety of uses including art galleries, micro-breweries, office, restaurant and retail.

Existing flood premium is $9,384. Current owner is a non-profit and does not pay property taxes.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41034183
Zoning: HU-MU
Property Located Between: Banks & Tulane
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,247 SF
Roof Type: Flat
Construction/Siding: Stucco
Lot Frontage: 87
Lot Depth: 104'11"
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Square 680, Lots 9, 10 & 11

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,422 201,246 391,000
Median Age: 32.59 36.81 37.27
Households: 11,195 88,745 168,185


Photograph of Listing Agent

Jonathan D Shaver

RE/MAX Commercial Brokers Inc Metairie, LA 70002
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