147 Carondelet StNew Orleans, LA 70112

Property Details for 147 Carondelet St

Year built

1919

Lot size

0.19 AC

Property size (Sq ft)

41,922 SF

Property type

Office buildings

APN

105101513

APU

105101513

Description

This exceptional six-story, 41,922 square foot building, constructed in 1923, presents a unique redevelopment opportunity in New Orleans' Central Business District (CBD). Formerly a Federal Reserve Bank branch, this vacant property boasts a prime location on Carondelet Street, directly facing the St. Charles Avenue streetcar line, just one block from the intersection of Canal and Bourbon Streets. Its proximity to the French Quarter, Warehouse District, and Medical District ensures excellent visibility and accessibility. The building is offered free and clear of all encumbrances, providing a clean slate for future development. A significant advantage is the inclusion of 25 complimentary parking spaces secured through a long-term agreement with the Pere Marquette Garage, extending for nearly 80 more years. This mixed-use property, previously utilized as a bank, executive office space, and event venue, offers substantial potential for various commercial ventures. The asking price is $6,000,000, translating to $143.12 per square foot. This is a rare chance to acquire a distinguished historic building in a thriving, high-traffic area of New Orleans.

• CAP approach

  CAP return

  Valuation

  6%

  $6,648,054

  6.5%

  $6,136,665

  7%

  $5,698,332

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,197,847

  Geo Method

  $2,980,235

• Alternative Use

  Use

  Valuation

  Residential

  $7,609,464

  Hospitality

  $6,970,228

  Educational

  $5,799,148

  Medical

  $5,998,590

  Retail

  $9,020,897

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.953

Longitude

-90.071

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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