4501 Galvez StNew Orleans, LA 70117

Property Details for 4501 Galvez St

Year built

1960

Lot size

2.42 AC

Property size (Sq ft)

63,967 SF

Property type

Showrooms

APN

39W508601

APU

39W508601

Description

This exceptional New Orleans industrial property, located at 4501 N. Galvez Street, offers a compelling investment opportunity. The 2.49-acre lot features two buildings totaling over 68,622 square feet of versatile warehouse space. Building 1, a substantial 61,422 square-foot warehouse, boasts 12-foot eaves, an impressive 18.4-foot center clear height, and four dock-high loading doors, including one with grade-level ramp access. The floor has been recently repaired, and the roof was recoated in 2017. The building is fully sprinklered. Building 2 is a 7,200 square-foot rectangular metal building, providing additional storage or workspace. The property benefits from its strategic location in an active New Orleans industrial district, with frontage on both North Galvez and Kentucky Streets, and proximity to the Industrial Canal. Ample parking and storage space are available within the fully gated lot. An adjacent rail spur offers potential for expanded logistical capabilities. The property is zoned H-I (Heavy Industrial), allowing for higher-intensity manufacturing, warehousing, and storage uses. The asking price is $2,599,000.

• CAP approach

  CAP return

  Valuation

  6%

  $14,911,655

  6.5%

  $13,764,604

  7%

  $12,781,418

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,296,238

  Geo Method

  $11,459,483

• Alternative Use

  Use

  Valuation

  Residential

  $11,610,959

  Hospitality

  $10,635,576

  Educational

  $8,848,674

  Medical

  $9,152,994

  Retail

  $13,764,604

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9752

Longitude

-90.0268

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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