167 Harbor CirNew Orleans, LA 70126

Property Details for 167 Harbor Cir

Year built

1970

Lot size

0.60 AC

Property size (Sq ft)

3,920 SF

Property type

Office properties

Property subtype

Office buildings

APN

39W015250

APU

39W015250

Description

This exceptional 4,500-square-foot flex space industrial property, located at 167 Harbor Circle in New Orleans, Louisiana, presents a unique investment opportunity. Priced at $350,000 ($77.78/SF), the property sits on approximately one acre of land (200' x 217'), offering ample space and potential for diverse uses. The building itself comprises a versatile layout including approximately 3,000 square feet of office space, a 1,500-square-foot garage, and approximately 14,600 square feet of covered parking. This combination of office, garage, and extensive covered parking makes it suitable for a variety of businesses. The property is zoned H-1, providing flexibility for future development or adaptation. Its past uses as a tow yard and school bus lot demonstrate its adaptability and resilience. While currently offered for sale, the property is also available for lease at $2,350 per month, triple net (NNN). Situated in Orleans Parish, with a zip code of 70126, this property offers excellent access to New Orleans' vibrant infrastructure and business community. The location's versatility and ample space make it an attractive option for entrepreneurs and investors seeking a flexible and well-positioned industrial property. This is a rare opportunity to acquire a substantial property with significant potential in a desirable New Orleans location.

• CAP approach

  CAP return

  Valuation

  6%

  $621,640

  6.5%

  $573,821

  7%

  $532,834

• Comparable approach

  Method

  Valuation

  Relative Method

  $299,021

  Geo Method

  $278,673

• Alternative Use

  Use

  Valuation

  Residential

  $711,538

  Hospitality

  $651,765

  Educational

  $542,261

  Medical

  $560,910

  Retail

  $843,517

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

30.0292

Longitude

-90.0293

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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