508 David StNew Orleans, LA 70119

Property Details for 508 David St

Year built

1940

Lot size

0.09 AC

Property size (Sq ft)

3,100 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

207208406

APU

207208406

Description

This exceptional Mid-City warehouse offers 3,200 square feet of versatile space, ideal for a variety of industrial uses. The property features a single-tenant occupancy, making it perfect for businesses seeking a dedicated and secure location. The building boasts approximately 566 square feet of office space, providing ample room for administrative functions. A substantial 500-square-foot concrete pad in the rear offers additional storage or loading capabilities. High ceilings, reaching 16 feet at the eaves and 21 feet clear, provide ample vertical space for storage or equipment. Access to the warehouse is convenient via a single 18' x 12' overhead door at ground level. The property is zoned commercial, ensuring compliance for a wide range of industrial operations. The monthly rental rate is $2,400, triple net, translating to a rate of $9.00 per square foot. Net expenses are $3.75 per square foot. This property presents a compelling opportunity for businesses seeking a well-appointed and strategically located warehouse in the vibrant Mid-City area. Don't miss this chance to secure this prime industrial space.

• CAP approach

  CAP return

  Valuation

  6%

  $722,656

  6.5%

  $667,067

  7%

  $619,419

• Comparable approach

  Method

  Valuation

  Relative Method

  $595,906

  Geo Method

  $555,355

• Alternative Use

  Use

  Valuation

  Residential

  $562,696

  Hospitality

  $515,426

  Educational

  $428,829

  Medical

  $443,577

  Retail

  $667,067

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9783

Longitude

-90.098

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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