For Sale
$990,000

8518 Oak StNew Orleans, LA 70118

Two buildings, high-demand location. Redevelopment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use investment opportunity encompasses two buildings totaling 3,618 square feet situated on a 10,140 square foot lot in New Orleans' desirable Oak Street corridor. The main building at 8518 Oak Street, a 2,518 square foot structure with a 380 square foot attached garage, currently serves as office space. Its flexible layout allows for diverse uses, including retail or multi-family, under the HU-MU zoning designation. This building is individually priced at $695,000. The property also includes 1121 Leonidas Street, a 1,100 square foot, three-bedroom, two-bathroom single-family home, currently leased month-to-month. This second building presents significant redevelopment potential, given its commercial zoning. Purchasing both properties creates an "L"-shaped parcel with dual street frontage and access from both Oak and Leonidas Streets, offering a combined 10,140 square foot site, including a substantial rear yard of approximately 2,600 square feet and a total gross building area of 4,000 square feet. The asking price for the combined property is $990,000, representing a price per square foot of $273.63. This presents a unique chance to acquire a substantial property in a prime location with significant upside potential for redevelopment and future income generation. The property is located in Orleans Parish, Louisiana, zip code 70118.

Property Details for 8518 Oak St

Property type
Office properties, Mixed-use properties
Square Feet
3,618 SF
Buildings
2
Stories
1
Units
2

Location Insight

City
New Orleans
County
Orleans Parish
State
Louisiana
Latitude
29.9502938
Longitude
-90.1336527
8518 Oak St, New Orleans, Louisiana

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8518 Oak St
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