142 Delaronde StNew Orleans, LA 70114

Property Details for 142 Delaronde St

Lot size

1.30 AC

Property type

Office buildings

APN

513101011

APU

513101011

Description

This exceptional 80,884 square foot office complex, located at 142 Delaronde Street in Algiers Point, New Orleans, Louisiana, presents a unique investment opportunity. The property, built in 1966, comprises five buildings across five stories and sits on a 57,935 square foot lot. Zoned MU-1, it offers significant potential for adaptive reuse, potentially qualifying for state and/or federal historic tax credits. Its prime location directly across from the Algiers Ferry terminal provides unparalleled access to the Central Business District, Warehouse District, and French Quarter, ensuring convenient seven-day-a-week connectivity. The asking price is $3,375,000, translating to $41.73 per square foot. The property boasts breathtaking views of the New Orleans skyline and is situated in one of the city's most desirable neighborhoods. This presents an ideal opportunity for a mixed-use development project within a vibrant and established community. The property's rich history and strategic location offer a chance to create a lasting legacy in this historic city. Note that this property can be sold as a package with 149 Delaronde Street. The property features a total of five buildings.

• CAP approach

  CAP return

  Valuation

  6%

  $8,951,926

  6.5%

  $8,263,316

  7%

  $7,673,079

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,306,056

  Geo Method

  $4,013,030

• Alternative Use

  Use

  Valuation

  Residential

  $10,246,512

  Hospitality

  $9,385,750

  Educational

  $7,808,834

  Medical

  $8,077,392

  Retail

  $12,147,075

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9529

Longitude

-90.0546

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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