3827 Frenchmen StNew Orleans, LA 70122

Property Details for 3827 Frenchmen St

Year built

1950

Lot size

0.28 AC

Property size (Sq ft)

11,592 SF

Property type

Retail properties

Property subtype

Retail space

APN

37W415108

APU

37W415108

Description

This exceptional mixed-use property, located at 3827 Frenchmen Street in New Orleans, Louisiana, presents a unique investment opportunity. The 12,974 square foot building sits on a large lot and includes an adjacent parking lot at 2158 Foy Street. The property is comprised of a two-story building with four retail/restaurant spaces on the ground floor, currently leased, generating a strong net operating income (NOI) of $6,300. The upper level offers office space with a shared lobby and restrooms, currently undergoing renovations for completion soon. The net rentable area totals 11,250 square feet. The asking price of $1,500,000 includes both the Frenchmen Street building and the adjacent Foy Street parking lot; the parking lot is not available for separate purchase. This prime Gentilly location offers significant potential for investors seeking a blend of established rental income and future development possibilities. The property's size and configuration, combined with its desirable location, make it an attractive investment in the vibrant New Orleans market. The zip code is 70122.

• CAP approach

  CAP return

  Valuation

  6%

  $2,702,267

  6.5%

  $2,494,400

  7%

  $2,316,229

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,228,305

  Geo Method

  $2,076,670

• Alternative Use

  Use

  Valuation

  Residential

  $2,104,120

  Hospitality

  $1,927,362

  Educational

  $1,603,543

  Medical

  $1,658,691

  Retail

  $2,494,400

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9976

Longitude

-90.0602

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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