241 Harrison AveNew Orleans, LA 70124

Property Details for 241 Harrison Ave

Year built

1950

Lot size

0.17 AC

Property size (Sq ft)

2,890 SF

Property type

Retail space

APN

716502515

APU

716502515

Description

This exceptional 1,400-square-foot retail space is ideally situated in New Orleans' vibrant Lakeview neighborhood at 241 W Harrison Ave. Located at the rear of the building, this single-tenant property offers a peaceful retreat from the bustling Harrison Avenue while maintaining convenient access to the area's amenities and thriving commercial and residential districts. The space boasts ample room for diverse uses, including retail, office, studio, or creative workspace. A large storage closet provides extra storage, enhancing the property's practicality. A significant advantage is the inclusion of a roll-up door, adding versatility for businesses needing easy access for inventory, equipment, or simply maximizing natural light and ventilation. This feature significantly enhances the space's functionality. The property's APN is 716502515, and it's located in Orleans Parish, Louisiana, zip code 70124. This 1,400 square foot space presents a compelling opportunity for businesses seeking a private yet accessible location with versatile features to accommodate a wide range of needs. The entire space is currently vacant. The property is classified as Commercial, Mixed Use, and Retail-Pad.

• CAP approach

  CAP return

  Valuation

  6%

  $673,702

  6.5%

  $621,879

  7%

  $577,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $555,538

  Geo Method

  $517,734

• Alternative Use

  Use

  Valuation

  Residential

  $524,578

  Hospitality

  $480,510

  Educational

  $399,779

  Medical

  $413,528

  Retail

  $621,879

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

30.006

Longitude

-90.1179

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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