5641 Morrison RdNew Orleans, LA 70126

Property Details for 5641 Morrison Rd

Year built

1960

Lot size

4.96 AC

Property size (Sq ft)

15,160 SF

Property type

Showrooms

APN

39W015221

APU

39W015221

Description

This exceptional 15,100-square-foot property in Orleans Parish's Northshore/N.O. East submarket presents a unique investment opportunity. The property consists of two buildings situated on a substantial 4.97-acre lot, offering ample space for a variety of industrial and office uses. One building comprises 11,500 square feet of open dock space, ideal for distribution or warehousing operations. The second building, a 3,600-square-foot structure constructed of engineered steel, provides grade-level access and additional functional space. The entire 15,100 square feet is currently vacant, allowing for complete customization to suit a single tenant's specific needs. The property boasts a 14-foot ceiling height throughout, providing generous vertical clearance for storage or equipment. Zoned L-I Light Industrial, this property is well-suited for a range of businesses. The expansive lot size offers significant potential for future expansion or outdoor storage. The property's location in the Northshore/N.O. East submarket provides convenient access to major transportation routes, enhancing logistical efficiency. This single-tenant property is ready for immediate occupancy. APN: 39W015221.

• CAP approach

  CAP return

  Valuation

  6%

  $3,534,020

  6.5%

  $3,262,173

  7%

  $3,029,160

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,914,174

  Geo Method

  $2,715,866

• Alternative Use

  Use

  Valuation

  Residential

  $2,751,765

  Hospitality

  $2,520,602

  Educational

  $2,097,111

  Medical

  $2,169,234

  Retail

  $3,262,173

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

30.0269

Longitude

-90.0268

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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